Wausau Automates Mid-Mkt. Submissions

During the conference, the carrier revealed it has worked with AMS and Applied–two major agency management system vendors–to develop an interface technology compatible with their product.

For the University Park, Ill.-based Applied, Wausau Insurance is using IVANS Transformation Station from IVANS Insurance E-Commerce Solutions, based in Greenwich, Conn. For agents using AMS agency management systems–such as AMS Sagitta Browser and AfW Online–the carrier is facilitating the transaction using TransactNOW from Bothell, Wash.-based AMS.

Both Transformation Station and TransactNOW provide the link necessary to translate the data output from agency management systems to the ACORD XML format, which is then passed on to Wausau.

There is no extra cost for producers to use this process. The only additional step for them is a few clicks of the mouse on their computer screen, since the process is already embedded in their agency management systems, the company said.

Joan Kiburz, Wausau's e-business manager, who gave the company's presentation on its advances during the conference, said the carrier's initiative to automate the middle-market submission process started 16 months ago.

"I was named e-business manager at Wausau two years ago and was asked [then] to work on technologies, including interfaces with our agents, that will make it easier for them to do business with us," Ms. Kiburz explained.

On her first visit to the ACORD-LOMA conference after her appointment, she remembered many carriers talking about XML standards and XML data streams to quote submissions, but they were concentrating on the personal-lines or small-commercial business arena.

"If the interface was bringing efficiencies to small-commercial and personal lines, we wanted to realize these same benefits in the middle-market area," she said.

Ms. Kiburz said producers using Wausau's middle-market submission technology will save time and will benefit from quick-and-easy export of submission data, immediate confirmation and faster turn around time for quotes.

Another benefit is producing more accurate quotes by eliminating errors that can occur when information is re-typed into a submission.

"We wanted to improve the accuracy of our data and avoid re-keying information into numerous underwriting systems and internal workflow systems," she explained.

Data now gets to underwriters faster, and they can do their job much quicker because they get the information placed in front of them, whereas before, they had to take the paper information and key it in into various carrier rating systems, Ms. Kiburz said–adding that agents like the quicker response on a process that once took 30-to-45 days.

Implementing the process also brought other changes, Ms. Kiburz noted.

Previously, agents needed to separately e-mail, fax or send a paper copy of middle-market submissions. The carrier would then have to manually key it into the corporation's own systems.

Now, by allowing producers to transmit submission data from their agency management system with a click of a mouse, it is fed directly into the carrier's workflow and rating systems within minutes.

Wausau can receive automated submissions for applications of workers' compensation, commercial auto, general liability, property and umbrella. Currently, this process is available to about 80 percent of agencies working with the carrier, as well as to the direct sales force responsible for a quarter of the company's $1 billion in annual revenue.

Wausau, which began deploying its technology to commercial agents in early 2004, took another step up this month, adding the capability to receive submissions with file attachments for documents such as loss runs and financial statements, which is an important part of larger, more complex middle-market submissions.

Other carriers are following suit, according to Wausau. The Hartford Financial Services Group and Nationwide Mutual Insurance Company are beginning to offer automated middle-market submission process in some lines, Wausau noted.

"We truly believe that this [automation process] will be the industry standard within three years," Ms. Kiburz said. "With the maturity of this process, companies are starting to see the benefits to move it into the middle-market."

Flag: Wausau's Way

Head: How Do Agents Benefit?

The Wausau Insurance Companies offers agents an automated e-submission process for middle-market commercial accounts. The company sees the following benefits from the change:

o Agents no longer need to e-mail, fax or send a paper copy of submissions. There is no extra cost for producers and agents to use this process.

o Since data is fed directly into the carrier's workflow and rating systems, it saves time, eliminates manual key-in and cuts inaccuracies.

o Agents benefit from quick-and-easy export of submission data, immediate confirmation and faster quote times.

Quotebox, with mug:

"We truly believe that this will be the industry standards within three years. With the maturity of this automated submission process, companies are starting to see the benefits to move it into the middle market."

Joan Kiburz, E-Business Manager

Wausau Insurance Companies