Hyland Software to Support ACORD XML Data Standards with OnBase Insurance Solutions
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 www.onbase.com/insurance. Contact: Lindsay McCune, 440-788-6029 First Call Analyst: Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20070110/CLW019LOGO CONTACT: Lindsay McCune of Hyland Software Inc., +1-440-788-6029 Web site: http://www.onbase.com/
2008-05-14 19:21:55 0362086 PRNEWSWIRE
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