Once upon a time, the word batch had a wonderful meaning, particularly when you remembered your sweet little gray-haired grandmother making a batch of chocolate chip cookies. Insurance companies used the word to describe how they would process their work at the end of the day. Today, batch processing is looked on as being somewhat quaint.
It hasn't gone away, though, which is why Wednesday, Feb. 29—Leap Day to many—is being celebrated as Real Time Day for the insurance industry, sponsored by the Real Time/Download Campaign.
Sure, it's not going to supplant Groundhog Day, Presidents Day or my birthday as key events on the February calendar and the fact that we won't have another Feb. 29 until 2016 may take some of the momentum away. It does seem like a good time to appreciate the movement between insurers and agencies to speed the process of writing and issuing insurance policies and the benefits derived from such efficient production.
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