Wisconsin-based property/casualty insurer Wausau Insurance announced that it is launching technology to expand middle-market electronic links with its brokers and agents.
Wausau has developed the technology to accept complete submission data from producers based on ACORD XML, then feed the data into internal workflow and rating systems. The immediate feed of data is designed to improve efficiency and accuracy as well as reduces response time to agents from Wausau underwriters. Wausau’s producers will be able to send complete workers’ compensation, commercial auto and general liability submissions directly from their AMS/Sagitta agency management system.
In addition, Wausau will use the data received to automatically initiate gathering underwriting information from outside sources, including motor vehicle reports, experience mods, financial information, customer characteristics and property valuations.
The new system is aimed at streamlining the producer’s workflow, reducing handling of paper transactions, postage and large e-mail attachments. Producers are provided a real-time response, within their agency management system, when the submission is successfully received by Wausau.
Wausau has signed an agreement with Carlsbad, Calif.-based, BCF Technology, to use its TIER-XML platform to transform the application data from an AMS agency management system, via AMS TransactNOW, into industry standard ACORD XML, and thereby allowing delivery of real-time submission data to Wausau.
Wausau is a member of the Liberty Mutual Group, which ranks 116th on the Fortune 500 list.
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