For customers of VERTEX, the vendor's VTXml Product Suite provides a way to define their insurance product processing rules by using business terms.
"We translate that to an industry data standard format so that they can communicate the data electronically to all of their distribution partners in one standard format," says Suzanne Brazeal, vice president of business automation services for VERTEX, a winner this year of a RAVE Award.
"Each year we continue to drive the growth of the industry standards through definition and adoption to ensure our clients' specific business challenges are addressed by the standards," she adds. "This past year we enhanced the standards and our solution to include better definition for life products and a means to support in-force transactions for annuity products."
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
