November 9, 2011
Colorado Springs, CO
Colorado Springs, CO, November 9, 2011 — Insurance Technologies LLC, a provider of sales automation solutions for the financial services industry, was awarded the 2011 Most Compelling Case Study ACORD Award at the ACORD Implementation Forum conference in Fort Lauderdale, Florida. Insurance Technologies was recognized for their involvement in standardizing tag values and instances, referred to as eLabels, for any fillable document used within an ACORD transaction.
Each year ACORD recognizes member partners who have demonstrated innovative development in enhancing the industry's implementation of ACORD standards. Insurance Technologies was presented a 2011 Award for their involvement in generating a value added deliverable, eLabels, that assist in adoption and adds implementation value to existing standard ACORD forms. By implementing standardized eLabels, end users will have the ability to interject an e-label "smart" tagged PDF into existing business flow, which can then either generate an ACORD transaction or ingest an ACORD transaction and populate a PDF while leveraging the existing fillable form technology.
Insurance Technologies' product offerings support ACORD standards, delivering their clients with sales solutions that provide streamlined workflows and straight-through processing. By incorporating eLabel support within Insurance Technologies' FireLight® electronic application and fulfillment platform, an ACORD 103 new business transaction will have eLabels standardized, expediting new business processing.
"Insurance Technologies is proud of our history in the enhancement and implementation of ACORD standards and to be recognized by ACORD for our participation is a true honor," said David Fenimore, EVP Engineering & CIO for Insurance Technologies. "Here at Insurance Technologies, we continually strive to provide our clients innovative solutions to help them transact business. By incorporating ACORD standards into our newest product, FireLight, we are able to offer the industry a world class electronic application new business platform that simplifies new business processes and straight-through processing."
"On behalf of ACORD, I want to congratulate Insurance Technologies on winning a 2011 ACORD Award for most compelling case study," said Rick Heil, Director of Standards, ACORD. "Their commitment to Standards and their leadership is to be applauded."
"The new eLabel ACORD deliverable adds a tremendous value to the entire industry and leads to a cleaner, more conformant set of standards from ACORD," said Jim Ferrell, VP Product Management for Insurance Technologies. "We are excited about the value this provides to our FireLight platform and the entire industry."
About Insurance Technologies (www.insurancetechnologies.com) Based in Colorado, Insurance Technologies provides innovative sales automation solutions to the financial services industry, supplying Carriers, Broker-Dealers, Bankers and Advisors the accurate sales tools allowing them more time to develop new sales opportunities. Our product suite manages the sales process across distribution channels thus providing Straight-Through Processing (STP) resulting in more in good order applications. ForeSight™ is a mobile point-of-sale platform that illustrates all business lines across diverse distribution channels. VisibleChoice® is a multi-carrier annuity sales solution that compares side-by-side product features and values thus reducing compliance risk and increasing suitability. FireLight® is an electronic fulfillment platform that provides a low cost, flexible and easy to deploy solution for all product lines resulting in world class electronic application processing. Insurance Technologies is known for our best of class products, advanced technology, dependable delivery and highly regarded customer service.
ACORD (Association for Cooperative Operations Research and Development) is a global, nonprofit standards development organization serving the insurance industry and related financial services industries. ACORD's mission is to facilitate the development of open consensus data standards and standard forms. ACORD members include hundreds of insurance and reinsurance companies, agents and brokers, software providers, and industry associations worldwide. ACORD works with these organizations towards a goal of improved data communication across diverse platforms through implementation of standards. ACORD maintains offices in New York and London..