Fair Isaac Corporation announced availability of XML Manager For Insurance version 2.1, based on Fair Isaac Blaze Advisor rules management technology. The new release supports the 1.2 release of the ACORD SPX standard and helps carriers and agents more easily capture and exchange insurance data for faster policy issuance and reconciliation. Release 2.1 offers new functionality and ease of use for insurance carriers, based in part on design and development contributions from The Hartford.
XML Manager For Insurance is part of the Blaze Advisor family of rules management products. It allows carriers to define and maintain insurance policy and claims application data requirements in compliance with ACORD SPX standards. ACORD, the Association for Cooperative Operations Research and Development, develops U.S. standards for insurance policy and claims information transmittal between insurance carriers, agents, brokers, and other third parties. Insurance carriers can use XML Manager for Insurance to quickly update data requirements to reflect underwriting changes and to customize forms for new lines of business. One of the key features of release 2.1 is the ability to automatically generate complete Web-based data entry screens from a set of XML message descriptions, with embedded data validation and field edits. Agents and carriers benefit from reduced rework while offering their customers faster turnaround on policy decisions.
The new 2.1 release incorporates many enhancements to improve performance, reusability of developed rules and edits, and deployment of data validation rules as Web Services. It also allows much more open and flexible integration with external systems through a new partnership with Software AG, Inc. that provides customers with advanced message handling and transformation of both XML and non-XML data into ACORD XML formats, along with native XML storage of transaction information.
Many of the new features in XML Manager For Insurance release 2.1 were implemented based on close development cooperation and product use experience with The Hartford. As one of the nation’s largest insurance and financial services companies, The Hartford was an early adopter of ACORD SPX standards for use in internal operations and in communications with agents and brokers. They have worked closely with Fair Isaac from product inception to ensure that the product meets the real-world needs of insurers and agents, with the performance and functionality necessary to support high-volume commercial insurance operations.
XML Manager For Insurance uses the power of Fair Isaac Blaze Advisor rules management technology to deliver proven performance and functionality to insurers. Blaze Advisor is used by many of the top insurance companies in the U.S. to provide business rules execution and control for underwriting, claims management, customer interaction, and many other insurance-related business processes.
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