Insurance Data Processing (IDP)) is a software and services vendor based in Wyncote, Pennsylvania

Wyncote, Pennsylvania

Wyncote is a census-designated place in Cheltenham Township, Montgomery County, Pennsylvania, United States. The population was 3,044 at the 2010 census...

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IDP makes insurance

Insurance

In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...

 software for property and casualty insurance carriers and agencies

Agency (law)

The law of agency is an area of commercial law dealing with a contractual or quasi-contractual, or non-contractual set of relationships when a person, called the agent, is authorized to act on behalf of another to create a legal relationship with a third party...

; IDP also provides statistical (bureau) reporting services and project planning

Project planning

Project planning is part of project management, which relates to the use of schedules such as Gantt charts to plan and subsequently report progress within the project environment....

 consultation

Consultation (media)

Consultation Refers to the relationship between a media service provider and media services consumer.An information services centre must be established, this comprises a media organization which has a large amount of information at its disposal...

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History

IDP was founded in 1949, by a group of five insurance companies and a reinsurance

Reinsurance

Reinsurance is insurance that is purchased by an insurance company from another insurance company as a means of risk management...

 brokerage firm. These six entities formed a cooperative accounting and statistical unit; subsequent growth resulted in the formation of Mutual Tabulating Services, Inc. in 1953.

Over the next ten years, with the increasing use of computers in business operations, the company entered the field of computer-based data processing

Data processing

Computer data processing is any process that a computer program does to enter data and summarise, analyse or otherwise convert data into usable information. The process may be automated and run on a computer. It involves recording, analysing, sorting, summarising, calculating, disseminating and...

. In 1961, the name of the corporation was changed to Insurance Data Processing, Incorporated.

In 1967, IDP was acquired by Marsh & McLennan, Inc. (Guy Carpenter & Co., Inc.), and in 1985 it became a part of the Carlino Financial Group. In 1997, ownership evolved into a Carlino/Gilbert partnership.

Today, Insurance Data Processing, Inc, is known as IDP, or IDP::Insurance Data Processing, Inc. In addition to the corporate headquarters in Wyncote, PA, IDP also has facilities located in Solon, Ohio

Solon, Ohio

Solon is a city in Cuyahoga County, Ohio, and is an affluent suburb of Cleveland in the Northeast Ohio Region, the 14th largest Combined Statistical Area in the United States. As of the 2010 census, the city population was 23,348...

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Software and Services

IDP’s software is divided into two product platforms: IDP::Vision, a policy processing application hosted by IDP (Software as a Service); and IDP::Software, a line of policy administration applications that IDP sells separately or as a unit.