Structured Data Capture (SDC) is a market wide service which converts the contents of insurance documentation into electronic data during the risk process. This removes the need for rekeying data into a downstream system, saving both time and human resource that could be utilised in more effective ways. SDC then produces an ACORD Global Placing Message (GPM) and sends the resulting file to the end user via a secure gateway. Ebix has the ability to provide your company with the necessary ACORD capabilities to act as an intermediary between your systems and SDC. Ebix can even convert the data rich file into a format of your choosing for onward processing. This allows you to integrate the slip data straight into your system without any laborious changes.
SDC is utilised for all business that flows through the Lloyd’s Insurance Company S.A. and can also be used for binding authority contracts directly from the DA SATS platform; Tide.
- Reduces the requirement to re-key data into a Carrier’s administration system.
- Consistent data is shared with all Carriers on the risk.
- Improvement of data quality.
- Reduces errors and omissions.
- Automated process, reducing cost and improving productivity.
- Utilises proven and market accepted ACORD standards.
- Allows the Carriers to receive the data in a way that suits them.