ISO Completes Strategic Acquisition of ACI
ACI Internet and mobile technology driving force behind field automation, data analysis and integration for ISO and its customers
Palm Coast, FL, May 12, 2003—ISO has acquired the assets of Palm
Coast Solutions, Inc. (ACI), the leading provider of workflow solutions
in the mortgage services, hospitality and insurance vertical markets.
ISO is a leading source of information, products and services related
to property and liability risk for the insurance industry. ACI will continue
to conduct business under the ACI name in its Palm Coast, Florida headquarters.
ACI will provide ISO's nationwide staff of field representatives with
technology that will enable them to collect data more efficiently and
reliably while improving response time and lowering costs. In addition,
ACI's technology will help ISO import field-verified information from
numerous sources and deliver it to customers with risk-specific underwriting,
natural hazard and claims analytics developed by professional staff throughout
ISO.
"We expect the complementary strengths of ISO's analytics and ACI's
technology to open new cross-industry opportunities," said Frank
J. Coyne, ISO chairman, president and chief executive officer, adding
"The intellectual strength of the ACI team is a significant strategic
addition for ISO."
"By utilizing the vast financial and business resources that ISO
has to offer, we are well positioned to grow within the mortgage services
industry," said Dave Roberts, president of ACI. "Additionally,
our new entry into the property/casualty insurance space will provide
us with more opportunities for growth and expansion."
"The transition to ISO will be seamless for ACI's existing customers,"
said Coyne, adding "ISO is fully committed to maintaining ACI's leadership
position by making further investments to grow ACI's traditional markets."
About ACI
ACI is a leading provider of digital solutions under the ACI, MCS, FormFill,
CRAL, Lighthouse, and ZOOware brands, encompassing electronic forms, digital
photo imaging, and automation tools for the mortgage services, real estate,
insurance, and hospitality vertical markets. The ACI client base features
many of North America's premier lenders, national appraisal companies,
and real estate brokerage firms. Additional information is available on
the Internet at www.aciweb.com. ACI solves mobile workflow management
challenges with well-crafted, sustainable enterprise solutions built on
digital, Internet, and wireless technologies, targeted to the mortgage,
insurance, and hospitality industries. These solutions are custom-configured,
highly scalable, and flexible, to fit the unique characteristics of each
corporation, while offering reliability and interoperability.
About ISO
ISO is a leading source of information, products and services related
to property and liability risk. For a broad spectrum of commercial and
personal lines of insurance, ISO provides analytical and decision-support
products; consulting; data processing; and technical, statistical and
actuarial services. ISO field services include on-site rating and underwriting
services, and the evaluation of community loss-mitigation efforts. ISO's
products help customers with sales and prospecting, underwriting, rating
and quoting, customer management, policy administration, product development,
claims administration and fraud detection. ISO's AIR Worldwide subsidiary
provides customers with the most advanced technologies to assess and manage
natural and man-made extreme-event risk. Through its ISO Claims Services,
Inc. (iiX unit) and Intellicorp Inc. subsidiaries, ISO provides motor
vehicle reports and criminal-records information and through its AscendantOne
unit delivers policy management and rating solutions. In the United States
and around the world, ISO serves insurers, reinsurers, agents, brokers,
self-insureds, risk managers, insurance regulators and other government
agencies.