Travelers unveiled two advancements for real-time transactions based on the ACORD XML standard. The company announced that it is in production with a real-time single-entry, multiple-company interface (SEMCI) capability for quoting personal auto insurance policiesenabling agents to quote an auto insurance policy in real-time directly from their Applied Systems agency management system through IVANS’ Transformation Station. Also debuted was a first-in-the-industry use of real-time SEMCI technology for large commercial accounts.
This capability for large commercial insurance will enable agents and brokers to electronically transmit large and mid-sized account submission information to Travelers from their Applied Systems agency management system through IVANS’ Transformation Station. Travelers’ real-time electronic submission capability for large commercial accounts will furnish agents and brokers with increased speed, improved quality and a streamlined communication processextending the technology currently available to Travelers’ agents who sell small business insurance.
“Travelers is dedicated to providing 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. “As a developer and an early adopter in the implementation of ACORD XML standards, we are pleased to work with agency vendors to continue putting technology to work for our agents and brokers, helping to simplify routine business processes and enabling greater focus on sales. At the same time, Travelers is proud to extend its leading role in deploying technology to better serve our customers.”
Travelers, Applied Systems and IVANS are debuting these new initiatives at the ACORD Annual Conference being held at the Walt Disney World Dolphin hotel.
“Real-time insurance offers far-reaching benefits for the independent insurance distribution system,” said James P. Kellner, chairman and CEO of Applied Systems. “We’re pleased to continue to work with Travelers and IVANS to develop real-time solutions that improve agency workflows and customer servicing.”
“We are pleased that Travelers continues to extend the functionality of The Agency Manager for their agents through IVANS’ Transformation Station,” said Clare DeNicola, IVANS vice president of sales. “Fast, reliable and consistent communications between agents and their customers create a more productive workflow and enable agents to devote more time to new business development.”
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.
Travelers and Applied Systems also announced that Moody and Associates Inc. of Gaithersburg, Md., has been identified as the 100th Applied Systems insurance agency to be brought live with Transformation Station for Travelers for real-time SEMCI quoting for small commercial insurance.
“This marks strong progress in the adoption of this technology by agencies,” said Pat Gee, vice president of operations for personal and small commercial insurance. “With our SEMCI capability, agents can quote business owners, workers compensation, commercial auto and umbrella insurance and also execute a claims loss run – all directly from their Applied Systems agency management system.”
Travelers is expanding the use of the ACORD XML standard to the company’s bond division as well. Travelers Bond has recently attained ACORD XML certification for its surety processing system, a system that will enable Travelers to electronically process bonds with other ACORD-certified agency management systems or broker systems.
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