The Power of Broker Choice
Summary
In today's insurance distribution world companies and brokers are faced with complex, disconnected manual processes to get transactions right. This problem is growing as transactions are generated from an increasing number of channels, such as company portals and real-time broker management systems. The cost of bridging data and processes from multiple BMS and real-time initiatives is too high. So is the cost of ignoring the problem and standing still.
iterS's communies module is a proven, pre-built solution that has been used successfully by Canadian insurers since 1999. It is an application that streamlines electronic B2B information exchange between insurance companies and distribution partners. Leveraging the ACORD and CSIO XML standards, communies speeds up an insurer's integration to services such as WARP, EDI, NEXISYS, CSS and CQ Real-Time Exchange and reduces development and maintenance costs. It is a reliable, simple and low cost solution that can be brought to market quickly.Whether the start point is Applied Systems' Warp transmission, a commercial lines management system or an industry-sponsored initiative, communies can solve the challenges facing web portals when it comes to electronic exchange of information, correction of data and straight-through processing (no re-keying of data). And this is done by simply utilizing and leveraging the insurance company's existing web portal technology.See the full content of this document
Extract
The Power of Broker Choice
Insurance companies are making substantial technology investments in Web portals to support brokers and streamline business processes. And these have been successful in introducing real-time, online transactions. Company web portals have opened the door ...
See the full content of this document
If you are already a vLex customer, access here