ACORD Conference 2003, May 17 through 20, promises to be unlike what you may be to used to. Oh sure, there will be the Saturday golf tournament, the exhibit hall features, workshops, awards, and the all the other features attendees have come to expect. But the scope, size, and flavor of the event should definitely be different.
For one thing, the size of the exhibit hall and the number of exhibitors has increased. More than 130 exhibitors will be gathered into a 110,000 sq. ft. space. Secondly, the number of workshops has been increased from last year’s 65 to 82 this year, which will be organized around seven different business and technology tracks.
Perhaps most significantly, however, is the 2003 program’s expanded scope, which reflects ACORD’s increasing international reach and expansion into the life, annuity, and reinsurance arenas. Indeed, a program that was previously P&C dominated is giving way to a larger insurance technology landscape. The program is geared to business and technology executives who are interested in standards, XML, Web services, IT, and strategic issues.
Conference information and details are available at ACORD. While you’re at it, check out the list of workshop titles and descriptions. Frankly, some are a mouthful to read, and one wonders how much can actually be covered in a mere 45-minute session. — S.B.
Kemper Auto and Home announced April 2 that it has certified
IBQ Systems for real-time
XML-based rating. As the IBQ press release explained "Agents enter quote
information into IBQ's Q-Rater program and the software automatically connects
to IBQ's platform via the internet. The platform queries the KAH mainframe
and then displays real-time rates in a comparative environment for every carrier
on the IBQ platform. An agent can take the next step and apply for a policy
without any re-keying of data."
I saw a demo of the IBQ platform a while back and what's interesting about it, besides the fact that it's designed to do real-time, XML-based comparative rating, is it's reliance on a thin client at the agency end. Why the thin client, rather than handling all the rating in a Web server with a browser window a passive display mechanism? Because, according to IBQ, pure Web-based rating is just too slow to be satisfactory to agents accustomed to the performance of locally running rating. The thin client manages communication between the agency PC and the IBQ server to make it particularly efficient and also runs some code locally to minimize trips to the server. The result is response time on a par with locally running rating software and generally faster than pure server-based rating software.
In its aim to be fast, IBQ has given up some of the cosmetics of Web pages and Windows applications. The version I saw looked more like a DOS application than Windows. But it had the virture of not requiring ratefile updates (as would locally installed software) and it was very fast (compared to server-based rating I've seen).
IBQ has taken a different approach from other rating vendors — first because of its real-time connection to carriers via XML and secondly because it achieves speed through running a small amount of application code on the agent's desktop. It's interesting to see this Washington company take some creative steps I have yet to see from some of the more established rating vendors. — J.A.
State Farm distributed 77,000 disposable cameras to Long Island customers as part of a program to reduce fraudulent claims associated with an auto accident. The idea, according to an Associated Press story reported in insurance newsnet, is to enable auto accident victims to document damages.
State Farm reportedly spent at least $100,000 for the cameras, the cost of which will surely be more when film processing costs are added. But State Farm thinks the idea of their insured having a camera to document damages may preempt the other driver from making suspicious claims later on. Of course, the program assumes the State Farm driver won't be injured to the extent he or she can't use the camera.
The program is believed to be a first. Who knows? Perhaps this low-tech potential anti-fraud tool will help reduce New York State's $1 billion insurance fraud price tag.
Here’s a novel idea for P&C agents. Give a disposable camera to a new auto policyholder — and explain why you’re providing it. It’s a low-cost way to make a memorable impression, create good will, and demonstrate eagerness to serve. — S.B.
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