Travelers Property Casualty announced the first electronic transmission of location and vehicle schedules for large commercial accounts, in real-time, from an Applied Systems agency management system through IVANS Transformation Station directly into Travelers’ proprietary underwriting system. Travelers was the first carrier to participate with Applied Systems in the production of single entry, multiple carrier interface (SEMCI) capability for large commercial insureds.
The real-time transaction, based on ACORD XML standards, will provide agents and brokers the ability to transmit submission exposure schedules with increased speed and improved quality. Moreover, agents can request loss runs and make inquiries on policies or billing without leaving their agency management system. The streamlined communication process also eliminates the need for Travelers to re-key large amounts of location and auto schedule data as part of the rating process for large commercial and construction business.
“Travelers is committed to furnishing independent agents with the tools needed to meet their agencies’ business objectives,” said David Findley, senior vice president of Operations for personal and commercial insurance. “At the same time, we are proud to extend our leading role in deploying technology to better serve our customers. Insureds of this size possess large vehicle and location schedules that, until now, had to be manually keyed. With this latest implementation, Travelers has shown that XML technology is just as beneficial to larger commercial enterprises as it is for small commercial and personal lines.”
“Real-time insurance transactions offer far-reaching benefits for the independent insurance distribution system,” added Doug Johnston, executive vice president of Applied Systems. “We’re pleased to continue working with Travelers and the Web services of IVANS Transformation Station in expanding the use of this technology to large commercial customers. This is a clear example of how ACORD XML can dramatically simplify the communication of large policy schedules directly into carrier systems. We continue to develop seamless solutions for improved agency workflows as well as even better customer servicing.”
Real-time SEMCI capabilities help streamline workflow in an agency by helping to eliminate redundant data entry, by synchronizing information between the agency and carrier, and by reducing an agency’s training and processing costs. This benefits both carrier and agent, eliminating redundant keying for the carrier while offering agents the ability to request loss runs and inquire about policies, billing and claim from their own agency management system.
Was this article valuable?
Here are more articles you may enjoy.