(Image credit: HmsFree.)
Aspen Insurance (Hamilton, Bermuda) has selected Verisk’s (Jersey City, N.J.) Mozart Form Composer to help research, create, and edit policy language for its U.S. operations. Verisk describes Mozart as its InsurTech platform for forms management and product development.
Mozart is designed to help insurers manage and create insurance products to address today’s risks, reduce production time, and streamline their form update and development processes, according to a Verisk statement. Aspen recently used Mozart to help implement a library of policy forms and endorsements.
“Mozart Form Composer has helped us more easily identify and sort forms based on our unique forms development and management processes,” comments Kerian Bunch, executive VP and general counsel for Aspen’s U.S. operations. “It’s also allowed policy wording changes to be made with greater ease.”
Form Analytics Powered by Machine Learning
“Keeping insurance policy language up to date has become a major challenge because advances in technology have not kept up with the growth and diversity of forms,” comments Ron Beiderman, VP, commercial coverage product development, ISO (Jersey City, N.J.), a Verisk business. “With Mozart, Aspen will have access to form analytics powered by machine learning along with a robust product development platform that makes forms management easier than ever.”