ACORD Application Processing Solution helps Life insurers efficiently manage inbound applications

Ingesting and classifying new business ACORD applications can be a tedious and time-consuming process unless you have the OnBase ACORD Application Processing Solution. This solution captures data from ACORD forms and, through the OnBase Enterprise Integration Server, exchanges the information with other applications. As a result, this manually intensive, error-prone process transforms into a fully automated, high-quality, controlled practice.

The OnBase ACORD Application Processing Solution manages the inbound applications received from the distribution channel, and based upon the ACORD form type, automatically separates the documents into specified application sections, handling even multi-line policies. Using pertinent information to classify each application, the solution automatically routes them to the appropriate underwriter via OnBase Workflow.

Sharing documents and exchanging information is a critical, often cumbersome and time consuming, component of the New Business process.  ShareBase by Hyland reduces this burden by securely accepting documents from key business partners such as agents and brokers, alerting the salesforce of missing information delaying the quoting process and sharing quotes, binders and policy documents throughout the process.  

Gartner Magic Quadrant for ECM 2015