Wave Insurance Technologies, Inc. d/b/a AVYST (“AVYST”) today announced it is the proud recipient of the 2016 ACORD Case Study Award. This is one of only four awards that ACORD presents to organizations each year.
AVYST provided a compelling, two-tiered case study on the use of ACORD standards in the software development process to reduce costs as well as the use of ACORD standards to transmit information by pre-filling ACORD forms for agents and brokers, wholesalers, intermediaries and carriers via AVYST’s Form, Application Viewer and Editor (“AFAVE”). “There are many benefits to be gained by leveraging these standards. One example is the ACORD eLabel ID which allows AVYST to map data gathered during the interview process to a corresponding field on an ACORD, carrier or agency-specific form,” said Gail Salazar, COO of AVYST. “It also enables the agent and CSR to auto-populate information across multiple forms while providing AVYST with the ability to display only those questions and answers an agent needs to complete a client interview.”
The use of ACORD standards has allowed AVYST to integrate more quickly and consistently with its partners while driving future development and integration activities for both personal and commercial lines of business. Ms. Salazar continued, “Our belief is that we have created a simple but effective integration process for partners while providing incredible value to our customers via the delivery of pre-filled ACORD forms to third parties.”
AVYST has developed a sales and risk management software solution for the P&C industry that manages the sales process from the lead generation stage to when the policy is bound, driving a consistent workflow for the independent insurance agency. “We recognized the need to develop standards to advance our development efforts and ACORD made that selection very easy for us,” said Marc Still, CEO of AVYST. “ACORD standards reduced our development cycle time and provided the credibility and reliability that our solution needs to effectively integrate with our partners. We are a proud to be an active member of the ACORD organization.”
Wave Insurance Technologies, Inc. d/b/a AVYST, provides a personal lines sales and risk management solution that enables independent insurance agents to efficiently manage a referral through the application, placement and binding process. This is accomplished with the use of intelligent question sets, workflow, quoting integration and by removing complexity in the way agencies do business today. AVYST has offices in Aurora, CO and Dallas, TX. For more information, visit www.avyst.com.
ACORD (Association for Cooperative Operations Research and Development), founded in 1970, is a global, nonprofit organization serving the insurance and related industries. ACORD facilitates fast, accurate data exchange and more efficient workflows through the development of electronic standards, standardized forms, and tools to support their use.