AMS/TowerStreet

Rough Notes, Dec 2000

AMS/TowerStreet TowerStreet is working on a proof of concept pilot with several real-time rating partners and will be able to send quote request data via XML to the carrier's policy/quote processing system to obtain premiums. TowerStreet is able to collect and combine underwriting reports along with the risk data. This data is validated against the carrier's underwriting rules for policy submission and put into a single submission. The carrier's system calculates the final policy premium and uses XML standards to return premium information, along with the policy number, back to TowerStreet. The agent can transfer the data back into the agency management system without rekeying. The TowerStreet Web site is: www.towerstreet.com.

Applied Systems Applied Systems and IVANS have entered into a joint venture to create a new real-time data exchange. Inquiry, collaboration, policy transactions, billing and claims can be handled with a total elapsed time of 10 to 30 seconds. Using the Internet and XML, agency data can be exchanged and processed in real-time. This new combined data exchange delivers a single agency workflow for both batch and real-time SEMCI. The Applied Systems Web site is: www.appliedsystems.com.