Press Release: SBS Launches Web-based X12 EDI Translator to Simplify Insurance Tracking for Mortgage Servicers and Outsourced Trackers
Specialized Business Software, a provider of custom software solutions for insurance, mortgage and financial services companies, launched its web-based X12 EDI Translator to enable mortgage servicers and insurance tracking companies to translate insurance policies from the X12 format into a more readable form and eliminate the added expense and time needed to develop and maintain an internal electronic data interchange (EDI) system.
The X12 EDI solution speeds up processing times by translating X12 data and sending it to the company’s insurance tracking system regardless of the X12 version used and automatically takes care of the acknowledgement file. This eliminates the traditional requirement of multiple custom import rules for the different insurance trading partners before users can stop manually keying paper documents into the system.
“Our X12 solution enables servicers and trackers to process X12 insurance data faster and more efficiently while ensuring greater accuracy, which reduces time and risk for the institution,” said Steve Wiser, President of Specialized Business Software. “There is no programming needed or any software to install; you can start receiving insurance policy data electronically immediately.”