More than one million new life insurance policies were processed in 2006 using Skywire Software Insurance Data Exchange (IDX)
Skywire Software, a leading provider of software and services for the insurance industry, announced the release of Insurance Data Exchange (IDX) 9.6 and the GA 2007 Agency Management System for brokerage general agencies. The company, which pioneered the automation of real-time data exchange via ACORD-XML and other industry standards for life, health and annuities, also announced plans to extend its powerful distribution model to property and casualty insurers.
"Automating the exchange of data between all parties involved is critical for companies looking to increase efficiency and speed processing new insurance business," said Wendy Gibson, chief marketing officer, Skywire Software. "The latest enhancements to our products demonstrate our commitment to helping our customers achieve improved agent carrier communications and straight-through-processing. We look forward to helping property and casualty companies realize the same benefits that our customers in life and health have long been experiencing, including the exchange of direct carrier rating messages."
Skywire Software’s IDX is the largest independent life insurance centralized data hub. More than one million new policies were processed through IDX during 2006, involving the exchange of more than 10 million ACORD-XML and other data messages. The latest enhancements to IDX and the GA 2007 system further enable application upload of new life insurance business with leading carriers, collaboration with service providers, and deepen integration with partner systems.
Skywire Software will showcase both products, along with its comprehensive suite of business and enterprise Customer Communications Management (CCM) offerings during the ACORD LOMA Insurance Systems Forum, May 20-22, in Lake Buena Vista, Fla.
More than 20 customer-driven enhancements have been made to GA 2007, including:
Application Upload
– Brokerage general agencies can now enter cases in the system and upload an application for life insurance directly to American General Life Insurance Company (American General Life), Prudential, and another leading carrier. The system also enables processing for Part I and Part II forms of a life insurance application for American General Life.
Expanded Third Party Service Provider Network
– MediConnect and Superior Mobile Medics have joined Skywire Software’s network of third party service providers. GA users can now easily and quickly electronically order paramedical exams, attending physician statements and motor vehicle reports, and receive real-time status back on the order. Both service order and status updates are exchanged using compliant ACORD-XML formats.
Integrated Imaging Workflow
– Additional integration between the GA system and PaperClip Software enhances imaging capabilities and workflow, resulting in increased efficiencies and reduced errors. Images can now be linked to specific cases and agents. Modifications made to case records are now automatically updated in both systems.
Skywire Software serves more than 1,000 insurance companies. Approximately 50 leading life underwriting companies, more than 50 of the largest life insurance brokerage agencies, 7,000 agencies / agents, and the top five service providers use Skywire Software’s automated data exchange products.
About Skywire Software
Skywire Software is a leading software company serving the insurance, health care, utility, and financial services industries. The Company develops industry-specific software products that help companies integrate processes, people and information. With products and services that span a range of key functions, including rating, rules, underwriting, business intelligence, agency management, data movement, and enterprise-wide document automation, Skywire Software is dedicated to providing an unparalleled customer experience to more than 1,600 customers worldwide. For more information, contact Skywire Software at 1-800-735-6620 or visit www.skywiresoftware.com.