"We hope that the report will convince agents and brokers to get involved in what we consider to be a revolution," said Jeff Yates, ACT's executive director. "We are not talking about a few applications in this report, but a whole revolution in technology. We need them to get involved and get working on embracing this technology."

Mr. Yates noted that the report defines what real time is and goes into detail about how it will impact the future of the industry. Besides urging agents to get involved, the report defines a lot of the terms, software and vendors, and describes how it all fits together and benefits agents.

"Implementation by large numbers of the agency force provides a powerful message to the carriers that these workflow improvements are important to agents," the report said.

The report notes that by implementing real-time technology, carriers benefit by giving agents the opportunity to improve their workflow and freeing the agency and brokerage firm staff "to sell and to provide customers with more highly valued services."

The report notes that customers already recognize the benefits of this technology from their experience with the financial services industry. This experience has changed "customer expectations forever." Customers, it infers, are developing the same expectations for the insurance industry.

For agents, there is the time saving element and efficiency, not only for their own business, but also in getting answers for customers quickly and efficiently.

It notes that real time benefits managing general agents through the efficiency of having complete ACORD application submissions. The report urges the excess and surplus lines industry to continue its own e-business initiatives that improve efficiency toward real-time transactions.

Carriers reap the benefits of real-time transactions because independent agents and brokers continually look for those companies that exemplify ease of doing business.

"Once again, building real-time functionality?positions the carrier as a competitive player over the long term," said the report.

"This is a major report from ACT (which is affiliated with the Alexandria, Va.-based Independent Insurance Agents & Brokers of America) and it involved a combination of agents, user group leaders, vendors and carriers. This is the major trend we see in technology," Mr. Yates said.