Specialized Business Software, a provider of custom software solutions for insurance, mortgage and financial services companies, has reached several milestones in 2013, including an increase another year-over-year increase in the number of new projects.
Specialized Business Software attributes this growth to increased awareness within the financial and insurance industries about the benefits of automated custom software and a large number of repeat customers who value being able to reduce the time it takes to complete basic business processes by as much as 90 percent.
Specialized Business Software also released two new products in 2013. Docunym 2.2 is an enhancement to its web-based document management and workflow solution, which helps users manage and retrieve mortgage loan documents faster and more efficiently. The X12 EDI Translator is a web-based solution enabling mortgage servicers and insurance tracking companies to translate insurance policies from the X12 format into a more readable form, which eliminates the need to develop and maintain an internal electronic data interchange (EDI) system.
“Our growth in 2013 is a reflection of the increased need for automated technology solutions with customized features among mortgage lenders and insurance companies,” said Steve Wiser, president and founder of Specialized Business Software. “Our custom solutions enable users to more efficiently complete core functions, thereby, pulling them ahead of competitors.”
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, a provider of custom software solutions for insurance, mortgage and financial services companies, has experienced several important milestones in 2012, including exceeding projected company revenues by 20 percent.
Specialized Business Software also enhanced its Docunym Enterprise Document Management solution with additional workflow management capabilities to enable users to log into a digital dashboard and simultaneously view multiple documents, such as insurance and appraisals in electronic job folders. Other 2012 highlights include the following software systems for specialty insurance programs:
• The addition of EDI X12 processing capabilities to enable insurance tracking companies to load mortgage and auto insurance data received in the X12 standard into their tracking systems
• The completion of a Lender Placed Policy Management System for a national insurance company to help their agencies and insureds to manage risk on their uninsured collateral
• The enhancement of a Captive Insurance Management System to enable risk retention groups of health care providers to securely manage their data and process underwriting information more efficiently
“Our success is a reflection of our commitment to provide quality custom technology solutions that meet the evolving needs of our clients, such as our EDI X12 processing capabilities or the Lender Placed Policy Management System,” said Steve Wiser, president and founder of Specialized Business Software.
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.