Orlando, FL – ASCnet TENCon – (October 6, 2004) – Soaring higher and faster every day, the volume of real-time interface transactions processed through IVANS Transformation StationT (TS) is on a pace to break the 2 million-transaction barrier by mid-December, according to Applied Systems, Inc., developer of the TS technology.
It took 20 months to reach the 1 million transaction mark on June 23, 2004; the 2 million milestone will come only six months later, reports Doug Johnston, Executive Vice President of Interface Services for Applied Systems. Johnston attributes the brisk growth pace to more companies using the network, and to agencies and companies collaborating to make more real-time transactions possible.
“Every day, as more companies are making more transactions available, real time is becoming mainstream at the agencies’ desktops,” Johnston explained. “Agencies are initiating thousands of transactions per day to a number of companies, making real-time the agents’ de facto method of communication with these companies.”
Also contributing to the increased volume is the ongoing development of new forms of transactions, Johnston said. He cited real-time inquiries, data bridges to companies, and company-initiated alerts as activities created from within real-time communication technology. Johnston also credits the activities of the ASCnet Interface Committee in promoting real-time interface to agencies and companies, educating them on the capabilities of the technology.
Applied Systems is the leading provider of automation solutions for the property and casualty insurance industry. Since 1983, the company has developed software for independent insurance agents, brokers, managing general agents, and insurance companies, as well as banks and other financial institutions with insurance operations. Applied Systems has helped more than 10,000 insurance organizations achieve new levels of success using its leading management systems, The Agency Manager� and The Agency Manager� Vision SeriesT.
Developments in electronic data interchange also contribute to Applied Systems’ position as the industry’s technology frontrunner. Incorporating consulting services and third-party integration, Applied Systems automates insurance transactions at every distribution level, from consumer through carrier. For information, visit www.appliedsystems.com.