Claims

Claims

Ebix’s electronic claims solution allows a Broker to submit claims directly to the Carrier or to the Insurance Market Repository (IMR) for agreement. The Ebix Claims solution speeds up the claims process by providing a service to send the data stored in their claim system to the London Market Bureau or directly to a Carrier. As a result of this the Carrier receives this data in a structured and standardised format allowing them to make a quicker and more accurate decision, which ultimately speeds up the process.

EbixExchange
Not all Brokers/Carriers have the ability to send/receive ACORD standard EBOT/ECOT messages. This can be an issue, however Ebix has solved this problem by creating a bespoke platform to aid this process.
Brokers can provide this platform to their partner Carriers for them to receive and accept the technical and settlement data. The platform is web based, easy to use and is already used by over 900 companies globally.
EbixExchange
EbixExchange
An ACORD enabled Carrier can provide this platform to their producing Brokers which in turn can transform Spreadsheets and PDF’s into the ACORD EBOT/ECOT format for the carrier to use.
There is a trend of companies moving toward the new EBOT/ECOT technology with Ebix being at the centre of this drive. Over the last few years the number of companies adopting this process and data rich solution is growing at a fast pace.

Broker

ECF submission to XIS:

The Claims service provides an option for Brokers to submit work packages to the XIS using DRI messaging. The integration service removes the need for a Broker to key in the details manually using the direct load facility method. This service is initiated directly from a Broker’s administration system and provides status updates and responses when received.

ECOT submission to XIS:

Utilising the already proven ACORD CM schema, a Broker can submit structured XML data to XIS for processing. This process is initiated directly from a Broker’s administration system with status updates and responses received on the Broker platform when available.

ECOT submission directly to Carrier:

Ebix’s Claims solution allows a Broker to submit claims movement data directly to Carriers using the secure, consistent and data rich ACORD ECOT standard. This process is already established and adopted within the global insurance market with some of the largest insurance Brokers/Carriers already involved.

Carrier

Receiving EDI from XIS:

EDI messages are sent out by XIS to Carriers, however not all Carriers have the ability to consume the EDI message. Ebix can act as the recipient of the EDI message for the Carrier and then convert this message into XML or a file format of their choosing.

Receiving ACORD4ALL from XIS:

ACORD4ALL messages can be sent out by XIS to Carriers instead of the EDI format. Ebix can act as the recipient of the ACORD4ALL message for the Carrier. This data can be stored with the carriers non-bureau accounting data so they have one location for all messages.

Receiving ECOT submission directly from Broker:

Ebix’s electronic accounting solution allows a Carrier to receive premium/settlement data directly from Brokers using a secure, consistent and data rich ACORD EBOT standard. This process is already established and adopted within the global insurance market with some of the largest insurance Brokers/Carriers already involved.

Benefits

  1. Rapid and secure method of delivering claims data
  2. Utilises proven, market accepted ACORD standards
  3. One method to deal with all your Carrier markets
  4. Compliments/enriches the ACORD EBOT Technical Account
  1. Reduces the number of queries
  2. Clear and auditable query resolution process
  3. Faster claim agreement
  4. Improved operational efficiency and reduced costs

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