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.”
Specialized Business Software, a provider of custom software solutions for insurance, mortgage and financial services companies, announced WNC First Insurance Services, a provider of risk protection solutions to financial institutions, insurance companies and agents, reduced the time it takes to process insurance policies by 90 percent with Specialized Business Software’s (SBS) custom software solution.
As a rapidly growing insurance tracker, WNC needed a custom software solution that would enable it to receive a broader array of insurance policies electronically. By significantly increasing the number and type of insurance policies WNC can receive electronically, WNC eliminated the traditional requirement of having to manually input those insurance policies into its computer systems. In June of 2012, WNC chose SBS’ custom X12 EDI software solution. Since launching the software, SBS’ custom insurance software solution has enabled the company to redeploy extra internal resources to other areas. By increasing the breadth of its automated processes and increasing efficiency, WNC has achieved a significant reduction to data capture costs.
“We chose a customized solution through SBS that was designed to meet our specific needs because a generic, out-of-the-box software system would not have provided the same level of capability,” said Jim Sigafoos, Chief Operating Officer at WNC First Insurance Services.
“Every feature we included in WNC’s insurance software solution was focused on either saving time and money or enhancing the organization’s ability to serve their customers,” said Steve Wiser, president and founder of Specialized Business Solutions. “This eliminated a lot of wasted effort and enables WNC’s staff to maintain their focus on their customers.”
Specialized Business Software wins approval to develop a custom EDI X12 translator for mortgage and auto insurance tracking. This application handles multiple versions of EDI X12 formats and can interface with multiple insurance tracking systems.