BOSTON–(BUSINESS WIRE)–Agencyport Software (formerly Sword Insurance), a leading provider of software and services to the global insurance and reinsurance industries, today announced the immediate availability of BookSmart® 2.3, the latest version of its automated solution for migrating entire books of business.
Building on the success of BookSmart® which is used by eight insurance carriers today across Homeowners, Personal Auto, Personal Package, Dwelling Fire and Commercial Auto, the enhanced software platform now supports Workers Compensation. Comp carriers in any state can respond to independent agent book roll requests, rate and underwriting book analytics and internal policy system data migrations in a more timely and efficient manner. To build the underlying data model for book migration, Agencyport used the ACORD XML schema for workers compensation and extended it to handle carrier-unique requirements.
BookSmart® 2.3 also provides new functionality across all supported lines of business for creating charts and graphs to depict all risks associated with a potential book of business and to give users a visual representation of existing data. Additionally, the platform allows for a method of reporting on risks that are not importable. All books that fail during the import process will be separated automatically and further categorized with explanation, allowing for quicker resolutions of the errors and, eventually, the book roll.
“We reacted quickly to clear demand among workers comp carriers for software to replace an expensive, slow and error-prone manual process,” said Mason Power, head of product and market strategy at Agencyport. “For all customers using our new analytics tools, including over 35 pre-packaged book profile reports, BookSmart® offers a more profound understanding of any book of business so that carriers can respond to agent book roll requests quickly or have a conversion tool to lower the cost of migrating from one policy system to another.”
BookSmart® 2.3 is also the first version to be interoperable with Turnstile, Agencyport’s newly-launched on-demand SaaS-based product for converting data from ACORD PDF files into ACORD XML. In this way, BookSmart® now handles data sent in XML, ACORD AL3, EXCEL, or PDF formats whether directly from an agent or via Transformation Station/Transact Now.