Retention Deductible Definition
A deductible is applicable under an Umbrella Liability policy that contains this provision if and when a loss occurs in which there is no primary, underlying coverage.
IVANS, Inc. announced today that Applied Systems, DORIS, InStar, and NASA are each rolling out additional real-time transactions that will provide immediate benefits to agency-carrier workflows. During the first four months of 2004, transactions conducted on Transformation Station have increased by 35% and the pace at which each agency vendor system is rolling out new carriers has rapidly increased.
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Applied Systems, a ProgramBusiness Storefront Owner http://www.programbusiness.com/tracking/sftracker.asp?Sfid=140, introduced its first implementation of Applieds WebEdits technology to enhance the real-time quote and issue process. According to Doug Johnston, executive vice president, Applied Interface Services, “WebEdits functions as a real-time Web service within the agency's workflow and dynamically cleanses ACORD XML messages originating from insurance agencies.” The use of WebEdits allows a carrier to establish rules for editing and correcting agency data used for real-time policy rating and issuance transactions between the agency and the company. Additionally, Applied Systems has implemented two new real-time Transformation Station transactions -- alerts and endorsement bridge.
InStar Corporation and North American Software Associates (NASA) rolled out real-time billing, claims and policy inquiry, along with the ability to request and receive loss runs, with nine insurance carriers through Transformation Station. One or more of these transactions are available today with the following carriers – ACUITY, Allstate, Chubb, Encompass Insurance, The Hartford, New York Central, Ohio Casualty Group, St. Paul Travelers, and Unigard. “Through one implementation InStar can quickly provide our agents with real-time interface to multiple carriers,” said Tom Hatcher, vice president, InStar. “At the same time carriers are able to reach agents with a variety of platforms, as a result of Transformation Stations use of ACORD XML and Web services.”
Bruce Dickhoff, president, NASA, added, “We are anxious to provide our agents with the full suite of real-time transactions available through Transformation Station. We are moving at a fast pace and will be ready to pilot personal auto quoting in June.”
DORIS is also announcing the availability of company Web site sign-on, endorsement bridge, and the ability to make payments through Transformation Station. Agents using DORIS are already benefiting from real-time access to billing, claims, policy, and loss run information. “With the number of endorsements in our business, the ability for an agent to start in their agency system and be scripted directly into the carrier Web site to make their change will be a huge time savings,” said Mike Mansperger, vice president and CIO, DORIS Insurance Systems.
D & O
Thirty-nine insurance carriers now participate in Transformation Station, the leading Internet managed data exchange using Web services and ACORD XML to enable real-time transactions between insurance carriers, MGAs, and independent agents and brokers.
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