Blue Frog's ADMServer New Business Module Supports ACORD Standards and DTCC Application Format to Foster Industry Adoption.

Business Editors/High-Tech Writers

POMPANO BEACH, Fla.--(BUSINESS WIRE)--May 13, 2003

Blue Frog's Module Fully Supports Industry XML Annuity

Standard From ACORD and Open File Format From DTCC 

Blue Frog Solutions, an innovative insurance technology solutions provider, today announced unilateral support for The Depository Trust & Clearing Corporation's (DTCC) open annuity application file format (APP) and The Association for Cooperative Operations Research and Development's (ACORD) new annuity XML standard through Blue Frog's just-released ADMServer for New Business module.

The ADMServer System is a middleware platform for the maintenance, distribution and management of ACORD messages. The New Business module is designed to receive, convert and transmit messages in any format, including DTCC's APP open file format and ACORD's soon-to-be-available New Business for Annuities (NBfA). Blue Frog's ADMServer for New Business module does not discriminate between formats. The tool enables, supports and converts multiple functions on the back end. If the message enters ADMServer in the DTCC APP open format, for example, then the technology will convert it to NBfA before transmitting it to the next party, and vice versa. It allows companies to transition their operations to industry standards to position for efficiencies and web services, while also allowing for opportunities for market expansion.

"The opening of the APP file format by DTCC will ultimately promote broader market adoption of ACORD industry standards that will streamline processing," said Blue Frog CEO Brad Levine. "Likewise, ACORD's NBfA is designed to manage the application process with its XML standard. Blue Frog is working with both ACORD and DTCC in separate efforts to make their standards and services easier to implement and use."

DTCC's APP layout is intended to reduce the complexity and proprietary development efforts for carriers and to drive efficient electronic processing. The layout also provides carriers and distributors flexibility to continue to implement ACORD XML industry standards, while being able to expand and transact business electronically in an open file format that is available today. DTCC's APP layout will also provide immediate benefits to the industry by allowing companies such as AnnuityNet and Info-One to utilize one common layout for all implementations.

"DTCC remains fully committed to the NBfA initiative," said Randy Grespin, managing director and group business unit executive for DTCC. "As the industry moves toward implementation of ACORD industry standards for new business, DTCC will continue to play an active role in that development by participating in the NBfA Working Group and will implement the industry standard and map our existing layout to that standard for the industry."

"Blue Frog's support of both DTCC's open file format and ACORD industry standards will serve to help expedite the move by carriers to fully adopt ACORD standards for improved cost efficiencies and workflow while expanding business opportunities," said ACORD President and CEO Gregory Maciag.

Blue Frog is positioned to help carriers that have not yet transitioned to industry standards accomplish streamlined processing, therefore ADMServer for New Business is being enhanced to support multiple proprietary formats, such as Raymond James/PCA and Smith Barney. However, Blue Frog's goal is to foster implementation of ACORD industry-wide standards for business data exchange between insurance carriers and distributors.

"Blue Frog is an advocate of the NBfA standard and DTCC's Insurance Services file format, realizing that over the long haul adoption of ACORD XML industry standards is where the industry is headed and processing through the DTCC affords insurance carriers and distributors magnified market efficiencies," said Levine. "A combination of standards from ACORD and services from DTCC, along with the use of Blue Frog's ADMServer modules, provides a complete solution to the insurance market."

About Blue Frog Solutions

Blue Frog Solutions is a leading provider of ACORD middleware software solutions for data transfer, messaging, and transaction processing between life insurance carriers/underwriters and distributors/agents. The ADMServer Suite supports the entire XMLife model. Blue Frog is headquartered in Pompano Beach, Florida and was selected 2002 "Tech Company of the Year" by the South Florida Business Journal. For additional information about Blue Frog Solutions, visit its Web site at http://www.bluefrogsolutions.com.