Insurance Software aligns SOA with ACORD Framework.
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Press Release Summary:
Applicable to insurance industry key aspects and processes, pre-configured reusable business service XCelerators(TM) support ACORD (Association for Cooperative Operations Research and Development) Standards Framework. They bridge gap between framework of ACORD business messages, business function models, and SOA. Solution caters directly to specific needs of each discrete insurance business function in 3 main areas: product management, sales and distribution, and customer service.
Original Press Release:
Xaware Aligns SOA with New ACORD Standards Framework
Pre-configured business services for SOA increase speed to market and cut costs
COLORADO SPRINGS, Colorado - September 26, 2006 - XAware TM, Inc., an enterprise software company specializing in Service-Oriented Architecture (SOA) solutions, announces the development of its reusable business service XCelerators TM, created to support the ACORD (Association for Cooperative Operations Research and Development) Standards Framework. These services increase both efficiency and agility, and are applicable for key aspects and processes of the insurance industry.
"XAware SOA accelerators for insurance truly bridge the gap between the framework of ACORD business messages, business function models and SOA," explains Steve Horneman, product and marketing manager for XAware. "Since there is no code to maintain in these collections of business services, maintenance costs are substantially lower than SOA built with traditional tools and reuse is immediate."
By closely examining common actions of insurance companies through client engagement and industry involvement, XAware has created business service XCelerators that cater directly to the specific needs of each discrete insurance business function through SOA. XAware then took these common actions and united them with ACORD's new Standards Framework and common messages, ultimately providing an SOA solution. The result is that customers can realize SOA at a fraction of the cost and time of traditional development approaches.
Although each type of insurance product - life, property and casualty - varies and will request and respond with different ACORD standards-based information, XAware's XCelerators concentrate on three high-level areas of the insurance industry:
Product Management
In the product management solution category, XAware's XCelerators are provided for policy product transmittals, with others available. XCelerators in the product management grouping allow carriers to develop and maintain customer based offerings through pre-configured SOA solutions prepared for connection to operational systems.
Sales and Distribution
XCelerators for sales and distribution cover sales and distribution channel management, with others available. These SOA solutions based on ACORD are integral in acquiring and retaining customers and producers. Some specific examples include, but are not limited to, new business submission for a policy, general requirements order request, MIB inquiry, producer inquiry and product transmittal.
Customer Service
Customer service XCelerators include contract servicing and relationship management functions vital in the support of existing customers in servicing contracts, managing inquiries and claims. Specific examples include holding inquiry, address change request and party inquiry. Others are also available. XAware has accelerated ACORD and SOA realization through aligning their SOA solutions to the new ACORD capability models and prevalent messages for both life and property and casualty general areas.
XAware's services are priced per CPU. For more information about pricing, please contact XAware at 719-884-5400 or sales@xaware.com.
XAware, Inc.
XAware, Inc. is a privately-held enterprise software company that provides complete services solutions for the modeling, manufacturing, monitoring and management of Service-Oriented Architecture (SOA). XAware enables success for the business SOA model by bridging the gap between business processes and IT. This XML-based bridge is the Business Services Layer which is comprised of logical assemblies of IT data services and conditional processing. These business services can then be choreographed and re-choreographed to provide new business processes and give companies the agility necessary to keep up with today's ever changing business environment. XAware Business Service XCelerators (BSX), logically grouped catalogs of related and integrated business services, have been designed for and with insurance companies, financial market leaders and government agencies around the globe. For more information on XAware, visit www.xaware.com or call 719.884.5400.
XAware and XCelerator are trademarks of XAware, Inc.
