Insurance Services Office (ISO) is a data collection and statistical analysis organization that helps small insurers reduce the uncertainty in predicting losses by providing them with data that exists in the insurance industry.

Question

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ISO collects extensive data on insurance claims and uses this information to create actuarial tables and other products that insurers can use to assess risk more accurately. This helps especially smaller insurers who may not have access to as much data, thereby reducing the uncertainty in predicting losses.

Insurance Services Office (ISO) Is a Data Collection and Statistical