2023-06-02 04:16
The North American Industry Classification System (NAICS) is a company classification system designed through a collaboration between the United States, Canada, and Mexico. This classificati… Read More
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insurance
record
personal
naic
json
auto insurance
homeowner insurance
aoi groups
agency
supplementary acord
We are an InsurTech company focused on the P&C US insurance market, and we are implementing ACORD standards through our products. We are an ACORD Member (Solutions Provider). Frank Sentner, who is a well known P&C insurance industry and ACORD standards expert, is a member of our Advisory board.
We have several years of P&C industry experience behind us because we have developed some of the most popular agency management systems in use in the US. While working with multiple InsurTech software vendors and insurance agencies we experienced that some of the key insurance products (for example, AL3 Parser) are not easily available in the market. Some companies have built them but they either keep the availability of the products to a certain segment in the industry only or their products are too expensive to afford for a lot of companies. This results in frustration and over-spending by the needy companies. Considering this we have built and continue to build and improve products around AL3, ACORD Forms, and ACORD XML, and make them available to our clients at a one-time fee or reasonable renewal fee (flexible license plans).
2023-05-31 04:53
Insurance agencies provide 2 types of billing options to their insureds. One of them is agency billing, in agency billing the insurance agency issues the bill to the insured for the policy… Read More
2023-05-11 05:01
The importance of having auto insurance cannot be overstated. In the event of an accident, theft, or other damage to your car, it offers financial protection. The vehicle class is one of the… Read More
2023-05-09 05:17
Create a formula field on the record page. Add the given below formula in Formula Options IMAGE('https://chart.googleapis.com/chart?chs=250x250&cht=qr&chl='+ AccountId ,'test') Add t… Read More
2023-05-05 05:33
What is a Supplementary Acord Form? Acord Forms attached to the main Acord application are labeled supplementary Acord Forms. Depending on the scenario, these forms might be linked to a Pers… Read More
2023-05-03 05:00
The financial loss you might suffer in the event of a break-in or an attempted break-in at your home or place of business is protected by burglary insurance. Burglary is the term for breakin… Read More
2023-05-01 04:44
LOB generally means Line Of Business which defines the type of insurance for the policy. It is the general classification of business used by several companies. In Insurance, it can be defin… Read More
2023-04-27 04:40
Binders A Binder is like a temporary contract of insurance for a short period until the policy is issued and the insured gets the certificate of insurance. As per the definition of IRMI (Int… Read More
2023-04-25 04:50
5AOI: The Additional/Other interest is a joint group used to contain information relating to persons or parties other than the insured who have an interest during this policy for one reason… Read More
2023-04-19 04:46
Winsurtech Web Viewer is one of the software which can be used to open AL3 files and see the data visually. You can access the AL3 Web Viewer here: https://al3viewer.winsurtech.com/. It lets… Read More
2023-04-17 04:46
What are defense costs in insurance and are they paid separately from the limit of liability? What is post-judgment interest?
Defense Costs in insurance mean any type of fees, costs, and exp… Read More
2023-04-12 05:08
ACORD Forms
ACORD forms are used in the insurance industry to standardize the collection of information for insurance applications, quotes, and policies. Carrier questions are a section of t… Read More
2023-04-10 04:36
Certificates of Insurance
A Certificate of Insurance is a complete and defined document that includes all the important information about an insurance policy. It could be used, for instance… Read More
2023-04-06 04:43
We can find the Insured’s name in the 5BPI group. The name of the insured can be a free-form text name, a family name, or an individual’s name. The insured’s name is contai… Read More
2023-04-04 04:51
Introduction:
Commercial business insurance protects companies and organizations. Mainly, it’s designed to protect the company, its owners, and its employees. Commercial insurance, als… Read More
2023-03-31 05:04
What is the purpose of Inland Marine Insurance
How is it different in Personal Lines as compared to Commercial lines?
Purpose
Inland Marine Insurance policies are typically written on a nam… Read More
2023-03-29 04:48
Family Risk Management refers to the approach that helps in the reduction of risk to the family through various risk management programs. It is a part of personal insurance.
It involves ana… Read More
2023-03-27 04:37
Find out if you need to purchase rental car insurance before approaching the counter. The rental car agency will make several offers to sell you supplementary insurance. Included in this is… Read More
2023-03-22 05:18
Catastrophe:
A catastrophe is defined as an unexpected event that will cause significant damage or a high amount of suffering with that damage. That means this event will cause serious diffi… Read More
2023-03-15 04:38
Introduction
When someone rents a car, the rental car companies try to sell different types of supplemental coverages. It can include collision coverage that helps to protect the rental vehi… Read More
2023-03-03 04:49
Introduction:
Any insurance that protects individuals from financial loss brought on by a person’s death, an injury, or the loss of their property is referred to as personal lines insu… Read More
2023-02-27 04:56
Definition: Cyber insurance can also be called cybersecurity insurance. This insurance policy helps different businesses to cover the risks of cybercrime activities. The most common cybercri… Read More
2023-02-17 04:47
Property insurance that expressly covers losses from water damage brought on by flooding is known as flood insurance. Floods can be brought on by persistent or severe rain, melting snow, coa… Read More
2023-02-13 04:47
5PPH (Prior Policy History Group)
This group refers to the Prior Policy History Group (like the previous carrier, policy number, etc). The relevant historical information pertaining to this… Read More
2023-02-08 05:00
Amazon Web Services Simple Notification Service (AWS SNS) is a web-based service that automates the process of sending notifications to the subscribers attached to it. It provides this servi… Read More
2023-02-03 04:44
Deductible
Your policy deductible, also known as an annual deductible, is the amount you are responsible for paying out of pocket prior to your insurance policy providing support and coverag… Read More
2023-01-30 04:51
Homeowners Insurance:
The owner of the home purchases a homeowners insurance policy. The amount of insurance generally covers both the cost of replacing the home and the personal property in… Read More
2023-01-20 05:00
A study by a research organization has estimated that over 33 billion records will be stolen by cybercriminals in 2023 alone. So it’s very important to consider effective cybersecurit… Read More
2023-01-16 05:20
Personal auto insurance covers private vehicles. It is used to provide protection against monetary loss to an insured from bodily injury or property damage to other automobiles.
A totaled Ca… Read More
2023-01-11 04:43
Homeowners insurance is a type of property insurance that protects a person’s home, furniture, and other belongings from losses and damage. Additionally covered by homeowner insurance… Read More
2023-01-06 05:10
When compared to personal auto insurance, rental car insurance is a separate thing and operates differently. The benefits and coverage of rental car insurance are not the same as those of or… Read More
2023-01-02 04:54
PERSONAL LINE INSURANCE
The term “personal insurance” refers to any type of insurance that covers an individual against loss caused by death, injury, or property loss. These insu… Read More
2022-12-23 04:51
In the present era, as we have all seen and experienced, especially in recent times, Insurance has become a necessity for everyone. Insurance, whether it be for personal or commercial purpos… Read More
2022-12-19 04:35
In AL3 downloads, if a policy matches more than one policy record in AMS/CRM, that means we need to take a look at the downloaded transaction record and manually merge it to the correct orig… Read More
2022-12-14 04:51
Insurance Coverage Area: The insurance coverage area can be defined as the geographic area in which an insurance policy’s benefits will apply to the insured. In other words, it can be… Read More
2022-07-01 04:35
Investing in an insurance policy through any insurance company is the way to create financial stability to cover the uncertainty of the future for the insured and his/her family.
A guarantee… Read More
2022-06-29 04:38
Driver training credit is the discount or reduction provided to a student within the insurance premium. Young drivers become eligible for driver training credits upon completion of a driver… Read More
2022-06-27 05:01
Stacked Insurance:
The term “stacking” refers to the ability to combine coverage limits for several automobiles. The highest amount your insurance will pay toward a covered cla… Read More
2022-06-24 04:49
Introduction
Towing and labor cost coverage is an optional coverage that pays the cost of towing the vehicle to a repair shop when it is unable to be driven. It also covers a specified amoun… Read More
2022-06-22 04:39
When a policyholder requests compensation for a covered loss or policy event from an insurance company, it is known as an insurance claim. The insurance company has the authority to validate… Read More
2022-06-20 04:13
Apart from liability insurance, which is required by Rhode Island law, an auto policy might include a variety of additional coverages.
Physical Damage to the Automobile
Comprehensive coverag… Read More
2022-06-16 04:38
Difference between risk management and insurance?
Risk ManagementRisk management is a proactive process that involves identifying and planning for different types of risks, including financi… Read More
2022-06-14 04:36
INSURANCE PREMIUM
An insurance premium is the sum of money an individual or a business unit pays to the insurance company for an insurance policy. These policies cover home, automobile, heal… Read More
2022-06-02 10:58
What Is a Multi-Car Insurance Policy?
A multi-car insurance policy covers multiple cars, trucks, or other vehicles. You can save money by bundling your automobiles.
This strategy is also kno… Read More
2022-06-02 10:24
Rated driver is someone who is mentioned on the policy, they don’t have coverage elsewhere and they regularly drive one or more cars mentioned in the policy.
A primary driver is often… Read More
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