Applied Systems Again Leads All Providers in Upload and Download for 2002-03.Business Editors UNIVERSITY PARK, Ill.--(BUSINESS WIRE)--June 3, 2003 Applied Systems, Inc. once again has been named Upload and Download Vendor of the Year for 2003 by ACORD ACORD Association for Cooperative Operations, Research and Development ACORD Agency for Cooperation and Research in Development ACORD Association de Coopération et de Recherche pour le Développement (French) at the organization's recent conference in Orlando, Florida The city of Orlando is a major city in central Florida and is the county seat of Orange County, Florida. According to the 2000 census, the city population was 185,951. A 2006 U.S. . This is the ninth consecutive year that Applied has won both of these awards. In addition, ACORD presented Applied Systems with awards for Industry Leadership for Straight Through Processing In financial technology, the ability to process a stock transaction by computer from beginning to end without manual intervention at any of the stages. , and P&C XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. Standard 1.1.0 or Greater, while Applied Systems and IVANS IVANS Insurance Value Added Network Services , Inc. jointly received the Early Adopter Award. ACORD released interface statistics on the percentage of the industry's total upload and download transactions by vendor in 2003. Applied Systems led in every category, with 52% of upload and 48% of download. The closest competitor had 13% and 34% respectively, representing 31% of agency-company communicating pairs. Today, insurance agencies using Applied Systems software represent 49% of the industry's total agency-company communicating pairs. Applied Systems also experienced tremendous growth in the number of agencies and companies participating in interface from April 2002 to April 2003, with a 17% increase in upload partnerships, a 27% increase in download partnerships, and a 25% increase in total interfacing partnerships. "The growth in agency-company upload and download for the past 12 months was greater than it has been in many years, and can be attributed to the continued efficiencies and cost savings for both agencies and companies," stated Doug Johnston, Executive Vice President of WARP Interface Services for Applied Systems. "Applied Systems has been a longtime supporter of agency-carrier interface and the development and use of ACORD industry standards. We are proud to continue to lead the industry in pushing interface forward." About Applied Systems: Applied Systems is the leading provider of automation solutions for the property and casualty insurance industry. Since 1983, the company has developed software for independent insurance agents, brokers, managing general agents, and insurance companies, as well as banks and other financial institutions with insurance operations. Applied has helped more than 10,000 insurance organizations achieve new levels of success using its leading management systems, The Agency Manager(R), The Agency Manager(R) Vision Series(TM), and The Diamond System(TM). Developments in electronic data interchange See EDI. (application, communications) electronic data interchange - (EDI) The exchange of standardised document forms between computer systems for business use. EDI is part of electronic commerce. have also contributed to Applied's position as the industry's technology frontrunner. Combined with consulting services and third-party integration, Applied Systems automates insurance transactions at every level of distribution, from customer to carrier. For more information: www.appliedsystems.com. About ACORD: Based in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , ACORD (Association for Cooperative Operations Research operations research Application of scientific methods to management and administration of military, government, commercial, and industrial systems. It began during World War II in Britain when teams of scientists worked with the Royal Air Force to improve radar detection of and Development) is a global, nonprofit insurance association whose mission is to facilitate the development and use of standards for the insurance, reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. and related financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industries. With offices in London as well, ACORD accomplishes its mission by remaining an objective, independent advocate for sharing information among diverse platforms. ACORD Standards and services improve efficiency and expand market reach. Affiliated with ACORD are hundreds of insurance and reinsurance companies, and thousands of agents and brokers, related financial services organizations, software providers, and industry organizations worldwide. For more information: www.acord.org. |
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