SAP Awarded ACORD XML Certification for SAP® Claims Management Application at ACORD-LOMA Systems
May 23, 2006
LAS VEGAS - - SAP America Inc., a subsidiary of SAP AG (NYSE: SAP), today announced it has received ACORD standards certification (ACORD XML Notification of Loss) for the integrated SAP® Claims Management application. The ACORD Certification Award recognizes companies such as SAP that implement ACORD messages and certify that they are consistent with the specification. Using SAP Claims Management, insurance companies can automatically send or receive a notice of loss (FNOL/FROI) in the ACORD XML standard from most notice-of-loss service providers or agency management systems and seamlessly transform it into a claim. This enhanced process helps lower costs, shorten customer response time and eliminate data entry errors.
As industry-wide consolidation increases, the need for more standardization continues to grow. Fulfilling the ACORD certification requirements demonstrates SAP’s continuous support for insurance industry standards by enabling insurers to exchange information internally and externally. SAP is committed to building the infrastructure to seamlessly incorporate insurance customers’ needs into its solution for integrated claims management. SAP is making more business options available to insurers who want to make their claims processes more efficient.
“We are pleased that SAP has certified some ACORD messages to help insurers meet their changing needs,” said Denise Garth, vice president, membership and standards, ACORD. “The ACORD message certification will enable insurers to perform as never before possible.”
For more information about SAP for Insurance, please visit www.sap.com/industries/insurance.
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