MI

Millennium Information Services, Inc.

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Company Research Report: Millennium Information Services, Inc.



Company Overview


  • Name: Millennium Information Services, Inc.

  • Mission: Transform data into intelligence, providing P&C insurers with innovative ways to collect, manage, and mine an extensive range of property and performance data to fuel true underwriting intelligence.

  • Founded: 1991

  • Founder: No information is available

  • Key People: No information is available

  • Headquartered: 500 Park Blvd., Suite 1100, Itasca, IL 60143

  • Number of Employees: No information is available

  • Revenue: No information is available

  • Known For: Offering nationwide inspections, technology tools, and analytic solutions to help insurers build more profitable and predictable homeowner portfolios.


Products



Self InspectR®


  • Description: An alternative to physical inspections, providing a less-intrusive option for homeowners to capture property photos using their smartphones or tablets.

  • Key Features:

  • User-friendly self-submission process

  • No need for mobile app download

  • Seamless photo capture guided by examples

  • Location-verified photos analyzed by underwriting specialists


PreInspectR®


  • Description: Inspection optimization tool that directs resources to actionable risks.

  • Key Features:

  • Analyzes over 50 factors to prioritize inspections

  • Uses policy, home, environmental, and geographic variables


Property PredictR®


  • Description: Predictive scoring solution for assessing the potential loss ratio relativity of each property.

  • Key Features:

  • Developed with FICO® analytics

  • Informs carriers of individual loss potential

  • Optimizes inspection budgets


Data Analytics


  • Description: A suite of tools that provides comprehensive data analysis for informed decision-making.

  • Key Features:

  • Ad hoc reporting tool for multi-dimensional reports

  • PreInspectR Insurance Scores for likelihood of actionable conditions

  • Historical and geospatial data analysis


Reporting & Workflow Tools


  • Description: Provides dynamic data warehouse and workflow management solutions.

  • Key Features:

  • Instant access to property information and inspections

  • Automated underwriting process with configurable Stack Logic®

  • Secure, password-protected website


Telephone Surveys


  • Description: Phone-based services for the acquisition and verification of policyholder information.

  • Key Features:

  • Residential data verification

  • Pre-inspection notifications

  • Post-inspection satisfaction surveys


Recent Developments



New Products Launched


  • Self InspectR®: Introduced a service for homeowners to self-inspect their properties using smartphone apps, particularly useful for hard-to-schedule locations.


New Features Added


  • MAPS Platform Enhancements: Integration with Self InspectR® for seamless data handling and improved inspection process workflows.


Partnerships


  • FICO® Partnership: Collaboration to develop Property PredictR®, which uses FICO®’s advanced analytics for predictive risk assessments.


New Initiatives


  • Enhanced Customer Call Processes: Improved engagement with policyholders by pre-notifying them about inspections via calls, leading to increased homeowner cooperation and faster inspection completion.

  • Customized Training Programs: Implementation of specific training sessions for inspectors based on client needs, enhancing inspection accuracy and client satisfaction.


Note: The report contains only the information available from the provided data. Fields marked as "No information is available" indicate the absence of specific details in the given data.