Collaboration to Help Insurers Achieve Process Efficiency across Multiple
Systems, Processes and Business Channels
CLEVELAND, May 14 /PRNewswire/ -- Hyland Software, developer of the
OnBase enterprise content management (ECM) software suite, announced a
collaborative initiative with select insurance customers to enable OnBase
Workflow and BPM applications to support ACORD XML data standards. With the
new integration capabilities insurers will be able to use OnBase to process
and share ACORD standards-based XML data with other systems without the
need for complex custom coding.
(Logo: http://www.newscom.com/cgi-bin/prnh/20070110/CLW019LOGO )
The first phase of the initiative will meet the specific needs of
individual customers and will be completed in Fall 2008. An initial
packaged release of the capabilities supporting ACORD standards is expected
to be available in the first quarter of 2009.
"Our expectation for this enhancement is to improve our ability to
streamline and standardize communication with third parties," said Evamarie
Bell, IT Analyst at Beneficial Financial Group, one of the carriers
sponsoring Hyland's development around ACORD standards. "With this
solution, we will gain efficiencies from requests to vendor turnaround time
and improved accuracy of information."
Bell continued, saying, "Vendor support for the insurance industry is
more than just marketing, it requires a commitment to research and
development. This initiative, while key for our business, demonstrates the
commitment to meeting the specific needs of insurers that sets Hyland
Software and the OnBase product suite apart from other vendors."
The new functionality is based on ACORD (Association for Cooperative
Operations Research and Development) XML standards, which were created to
maintain a standard among insurance, reinsurance and related financial
services industries. ACORD currently maintains two separate XML standards,
including one for Life, Annuity & Health and one for P&C/ Surety. Utilizing
the ACORD specific data model with the benefits of XML, the new solution
delivers an answer to a wide variety of information sharing needs within
the insurance industry.
"Data is the most valuable asset that an insurance organization has,
and by sharing this data with its partners, it exponentially increases the
value," said Jason King, director of Financial Services Solutions. "With
the OnBase Integration for ACORD/XML standards, insurers will operate more
efficiently and cost effectively by sharing electronic data. Insurers will
realize improved customer service, better internal communication and more
accurate and consistent data within the company."
About Hyland Software Inc.
Hyland Software Inc. is the developer of OnBase, a rapidly deployable
suite of enterprise content management (ECM) software applications. OnBase
is a modular suite of ECM applications that includes document imaging,
workflow, electronic document management, COLD/ERM and records management.
OnBase allows insurance carriers, managed general agents, and third-party
administrators to streamline processes and improve service levels across
the enterprise, including strategic areas such as new business,
underwriting, claims, regulatory compliance support and customer service.
For more information about OnBase, please contact an Authorized OnBase
Solution Provider or visit http://www.onbase.com/insurance.
Contact: Lindsay McCune, 440-788-6029
SOURCE Hyland Software Inc.
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Related links:
http://www.onbase.com
http://www.onbase.com/insurance
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20070110/CLW019LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Lindsay McCune of Hyland Software Inc.,
+1-440-788-6029
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