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ACT E&S Page

 
The E&S business provides vital insurance protection for businesses and individual clients around the globe. The sector is diverse, specialized and dispersed -- as a result, it’s been slower than the IA distribution channel in adopting standards and data sharing. But not for long. This article shows the areas the E&S Joint Working Group is focusing on driving momentum.
This report results from several months of discussion among retail agents and GAs as to how business processes within the E&S industry can and should be improved. The report identifies workflow improvements that should be given immediate attention by the parties, as well as workflow improvements sought 12-24 months in the future. The report then identifies next steps for the work group as of October, 2012.
There are significant industry efforts underway to improve the efficiency of the E&S markets, but those efforts are at a crossroads. The involvement of independent agents is needed now to push for the acceptance of ACORD applications in this market, as well as for the implementation of automated real-time data uploads and downloads by their general agent and wholesaler business partners.
This guide helps the E&S industry understand what the ACORD standards can offer them and how to get started implementing them and getting these implementations certified. The guide also provides info on getting started with the E&S Joint Working Group.
The 'Roadmap' provides a directional guide to assist GAs in the E&S market in website development and pertinent functionality that will prepare them for future integration with retail agents, as well as with their respective backend systems, raters, and carriers. The report takes into account the special characteristics of the E&S market and articulates the recommended evolution in GA Website functionality through four generations-- from image, to data, to process centric. The recommended evolution of GA website functionality will enable GAs increasingly to provide the functionality needed by retail agents and position these GAs eventually to be able to provide their retail agents with Real Time interfaces and download. The report also supports the overall WG's other goals of incorporating the ACORD standards, increasing the use of standardized ACORD applications, and developing standardized supplements where necessary in the E&S market