Insurance carrier joins ranks of leading life underwriting companies using Skywire Software’s IDX hub to automate data exchange for life insurance
Skywire Software, a leading global provider of software and services for the insurance industry, announced that Fidelity Life Association has selected its Insurance Data Exchange (IDX). The announcement came during NAILBA FOCUS in Scottsdale, Ariz., where Skywire Software is exhibiting its offerings for the industry, June 6-7.
Skywire Software’s IDX is the largest independent life insurance centralized data hub that automates real-time data exchange between carriers, brokerage general agencies (BGAs) and service providers for life, health and annuities. Fidelity Life Association will use IDX to automate application upload for new life insurance business and communicate pending case status for its Rapid Decision Term product.
“Skywire Software understands the insurance industry and the need for innovative technology that can enhance collaboration between all parties involved in the processing of life insurance business,” said Stephan Peters, director of Information Technology, Fidelity Life Association. “Using Skywire Software’s IDX to automate data movement, we expect to expedite the application submission process for our distribution partners and make it easier for them to do business with Fidelity Life Association.”
More than one million new policies were processed through Skywire Software’s IDX during 2006, involving the exchange of more than 10 million messages in ACORD-XML, NAILBA, and other proprietary data formats. Accelerated processing and transactions boosts profitability and increases customer satisfaction by offering one touch point to move data across distribution channels, agency management systems, and supporting multiple file formats.
“Automating real-time data exchange between all parties involved is a critical need as insurers seek ways to increase efficiency and speed the processing of new insurance business,” said Wendy Gibson, chief marketing officer, Skywire Software. “We are pleased to be working with Fidelity Life Association and look forward to enabling the company to better assist its customers by exchanging data through our IDX insurance hub.”
Skywire Software’s Michael Sladek is one of three panelists who will lead the workshop, “Maximizing BGA Productivity”, at NAILBA FOCUS, 2:30-3:45 p.m., Thursday, June 7. Panelists will present real world examples demonstrating how companies can benefit from using automated data exchange for application upload and to enhance collaboration between carriers and BGAs.
Skywire Software serves more than 1,000 insurance companies. Approximately 50 leading life underwriting companies, more than 50 of the largest life insurance brokerage general agencies, 7,000 agencies / agents, and the top five service providers use Skywire Software’s IDX and related 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.
About Fidelity Life Association
First established in 1896 as a fraternal benefit society designed to provide financial security for the growing middle class, the company remains an innovator in product design with a focus on consumer friendly service targeting the needs of Middle Americans. Fidelity Life Association provides the financial strength and security of an A- (Excellent) rating from A.M. Best. For more information, visit www.fidelitylifeassocation.com.