News Room

Millennium Information Services Launches Web Event Series to Introduce Full Property Inspection Lifecycle

Lifecycle approach offers P&C professionals a proven methodology for managing property inspections

Chicago, IL, August 4, 2008 – Millennium Information Services, Inc., a leading property inspection service provider, announced the availability of a new online demonstration of the Full Property Inspection Lifecycle, a proven approach to smart underwriting decisions. The demonstrations are available by registering at www.millinfo.com.

The Full Property Inspection Lifecycle contains six distinct stages: 1) Property Inspection, 2) Versatile Data Capture Platform, 3) Qualification and Validation, 4) Dynamic Risk Assessment, 5) Advanced Data Analytics and 6) Comprehensive Data Management. Integrated throughout the lifecycle are high-touch customer service, data and platform integration, and efficient service deployment, while guaranteeing no start-up costs or technology resources are needed and that flexible pricing is immediately available.

“The property inspection lifecycle has evolved quite dramatically over time, and the truth is today’s property and casualty insurance providers need a solution that enables better and more efficient decision-making,” said Steve Pietrzak, president and founder of Millennium Information Services. “This process, which includes Millennium’s Property PredictR™ score, enables a heightened level of precision and accuracy to underwriting by integrating this powerful property risk score into our industry-leading MAPS processing platform.

“Unpredictable natural disasters, like a hurricane or tropical storm, make it difficult for P&C insurers that serve property owners in weather-vulnerable regions, from coastal states like Florida and Georgia to midwestern states like Iowa and Wisconsin that are still overcoming the effects of disastrous floods,” Pietrzak said. “How are these insurers supposed to accurately assess the risk of their policyholders? The Full Property Inspection Lifecycle enables those decisions in a way to mitigate risk to the insurer.”

A Look inside the Property Inspection Lifecycle It begins with Millennium’s qualified national network of professional inspectors, which are able to handle any need, from new business inspections to renewal inspections or even major re-underwriting projects.

Incorporated throughout the Full Property Inspection Lifecycle are Millennium’s unique property inspection products. Millennium's Automated Property System (MAPS™) is the P&C insurance industry's most robust, stable and time-tested paperless workflow platform. The MAPS platform, with its proprietary StackLogic processing, automatically analyzes and pre-sorts inspected policies allowing underwriters to spend their valuable time reviewing the most significant risks.

For more information on the six stages of the Property Inspection Lifecycle, visit www.millinfo.com.

About Millennium

Millennium Information Services, Inc. is an insurance outsourcing company that provides property inspections along with an array of risk information and underwriting support services to property and casualty insurance companies and their agents. Millennium's various processes allow companies to capture otherwise unrecognized premium dollars by obtaining current and accurate data on the insured risks. By employing the latest technology in all of its activities, Millennium is able to significantly reduce its clients' expenses associated with policy information maintenance. Millennium's products also help increase internal efficiencies by reducing or eliminating paper forms and reports, thereby providing a more manageable working environment. The company works with many of the top regional and national property and casualty companies in the country. For more information, visit www.millinfo.com.