Insurance Technologies (IT), the premier provider of point-of-sale management software for the financial services industry, today announced its acceptance of the Business Process Redesign Award from ACORD. Insurance Technologies received this award at the ACORD Technology Conference yesterday in Orlando, Florida. Insurance Technologies and SAFECO created an XML (TXLife) schema to transfer data between SAFECO's front-end web system and Insurance Technologies'
product calculation engine. This XML document supports point-of-sale to
administration data exchange for several of SAFECO's annuity products. Insurance Technologies has consistently developed software using leading
technology, helping facilitate communication between software components
using standards. Due to this flexibility, Insurance Technologies assembles
a software solution unique to each client's needs.
"Receiving the Business Process Redesign Award from ACORD is an affirmation
of our ForeSight(tm) technology and our commitment to keeping current with
insurance industry software standards," said David Fenimore, Senior Vice
President Engineering, Insurance Technologies. "True development partners
such as SAFECO make adoption of these standards a reality for our industry."
Insurance Technologies was one of only two vendors to receive this award in
the Life space. Insurance Technologies is also a previous recipient of the
ACORD Early Adopter award of XML Standards for Life Insurance.