May 2002, Travelers (NYSE: TAP.A – News), an
industry leader in developing real-time automation solutions for independent agents,
unveiled two advancements today 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 policies
– enabling 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 process – extending 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 here 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 today 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.
About Travelers Property Casualty
Travelers Property Casualty (NYSE: TAP.A – News) is a leading provider of a wide range of
insurance products for individuals and businesses. Travelers is a member of Citigroup (NYSE: C – News). For
more information on Travelers products, see
www.travelers.com.
