Adding ammunition to the war on keystrokes, more than 250 of the most widely used ACORD standardized forms became available as eForms in January. Throughout the year, more forms will be moved to the electronic format until all are available. At this time there are more than 250 eForms in the ACORD library.
"There was a strong drive to implement these eForms," said Lloyd Chumbley, vice president of standards, ACORD, "and the technology of how these forms are used. What we are delivering today is a specification to automate agencies."
An eForm is an electronic fillable ACORD form that collects data through XML coding technology. The data from an eForm is extracted for re-use and used to populate other forms. EForms are programmed to extract data straight into agency management systems.
An ACORD eForm file contains:
o Layout of the form
o Atomic definition of the fields
o Instructions for completing each field
o Consistent labeling of the fields on the form (eLabels)
o Consistent XML format for data extraction or population.
To fully understand an eForm, picture input and output, said Roger Barbe, chairman of the ACORD property-casualty surety implementation subcommittee. The advantage of an eForm for input is a standard interface for entering data. This reduces training time as most agents and CSRs are familiar with ACORD forms. On the output side, an agent enters information into an application–such as a personal auto application–once, and any updates to that form, such as changing or adding fields, are easier. "As a vendor, you only have to build a personal auto map once. When ACORD updates it, you just pull in the updated form." Barbe said.
"The eForm maintains the XML data structure, so when you send it to someone, if they are eForms compliant, a person can receive it, open it up and see the changes," said Jeff Larson, Ebix's general manager of U.S. P&C brokerage solutions, Atlanta.
Ebix, a developer and supplier of software and e-commerce solutions to the insurance industry, received an award recently from ACORD in recognition of Ebix's support of ACORD standards in the provider's eForms Viewer. Ebix's eForms Viewer, which contains ACORD XML standards, enables agents to collaborate and contribute data to electronic forms used by agency management systems. The view can handle multiple forms to help the agent build a complete application. The agent may select multiple forms and the viewer automatically maps the data.
"We can reduce your key strokes by filling in 'like data.'" Larson said. "A piece of the ACORD eForm is eLabels, and the eLabels are part and parcel of eForm standards. Whenever the eLabel is acquired, the viewer will put that specific piece of data and keep the forms updated. EForms greatly help ensure that ACORD forms are always up-to-date."
But how would a carrier be notified if there are changes to the eForms? ACORD publishes a monthly report of everything that changes, whether changed due to the government's processes or regulatory requirements. "What we are doing is enhancing that notification process," Chumbley said. "Instead of being told what the change is, carriers can access the form online and distribute those new specifications to their end users."
Barbe explains how ACORD promotes new standards to its members. The subcommittee is active in e-newsletters and has an implementation forum in October. There are team sites, blogs, a discussion forum and AUGIE–an ACORD advocacy group.
Insurance Technology, Colorado Springs, Colo., has been an ACORD member since 1997, and has been using the data scheme to run its software in the annuity field. The vendor's VisibleChoice annuity sales platform, incorporates the eForms by examining the different manufacturers and narrowing the choice of annuity for the advisor. Once that is done, the advisor takes the information from VisibleChoice and transfers that to the eForm. "The advantage is that manufacturers don't have to go to every jurisdiction to get that form certified," said Kevin Hendricks, senior vice president, product development.
As a vendor, Hendricks sees different benefits than what an agent may experience with eForms. "We can query for the correct forms. And once that form is returned to the advisor, we can prepopulate the form with what is passed through our systems and additional information."
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