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Towards XML standards in insurance
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Communications standards have traditionally been fragmented in the insurance
industry, with little co-ordination between areas that are geographically
separate, between different lines of business and between different business
functions. XML could provide both a rationale and ability to break down those
barriers - but only if the industry is prepared to face up to the challenges
this opportunity presents.
XML Standards in Insurance
- the insurance industry
- standards in use
- XML to the rescue?
- a way forward
The Insurance Industry
- General
- Life and Pensions
- Healthcare
- Commercial
- Reinsurance
An Insurance Company
- policy sales and administration
- claims handling
- accounting
Policy Sales and Administration
- clients
- intermediaries
- software systems suppliers
Claims handling
- clients
- claims handlers
- claims adjusters
- vehicle repairers
- replacement goods providers
Accounting
- banks
- credit agencies
- finance houses
Consolidation, Globalisation and Partnering
- mergers to form insurance giants
- companies increasingly multinational
- odd bed-fellows
Current Electronic Commerce Solutions
- EDI
- EDIFACT
- National/regional/community standards
- WWW
ebXML
- Solving interoperability problems
- Delivering a definitive set of technical specifications and recommendations
- Inaugural meeting 17-19 November 1999
- 18 month project plan envisaged
EDIFACT
- EDI Standard
- Directories
- Syntax
- Message Design Rules
- Approval & Maintenance procedure
- Global
- 13 Industry Sectors
- Technical Groups
EDIFACT Insurance Group
- D9 (Global) and EEG7 (Europe)
- D9 - Europe, USA, Canada, Japan, Columbia, Australia
- EEG7 - Austria, Belgium, Denmark, France, Germany, Netherlands,
UK
EDIFACT Insurance - Europe
- Policy Administration, Claims, Accounting, Cargo, Healthcare, Reinsurance
- EDI messages
- Data Modelling
EDIFACT Insurance - Global
- XML discussed in March 1999
- Pilot study set up in Cargo area
- Based on Data Model
- Pilot implementation due shortly
Why EDIFACT?
- Background in standards
- Neutral
- Global reach, global trust
- Owned by user base
- UN, ISO backing
Current initiatives
- Cargo insurance pilot
- Motor quotation pilot
The Insurance Project
- Top down model
- Bottom up - reverse engineering existing solutions
- Mapping between the two
- To be documented using XML
- XML to be extracted as required
- Extendable to other technologies eg OO
- Started March 2000
- Watch this space