Insurance companies use transaction categories to track every stage of a policy’s lifecycle. Each code represents a specific event—whether it’s starting, updating, renewing, canceling, or auditing a policy. Here’s a [...]
Insurance agencies provide 2 types of billing options to their insureds. One of them is agency billing, in agency billing the insurance agency issues the bill to the insured for [...]
What is a Supplementary Acord Form? Acord Forms attached to the main Acord application are labeled supplementary Acord Forms. Depending on the scenario, these forms might be linked to a [...]
5AOI: The Additional/Other interest is a joint group used to contain information relating to persons or parties other than the insured who have an interest during this policy for [...]
Winsurtech Web Viewer is one of the software which can be used to open AL3 files and see the data visually. You can access the AL3 Web Viewer here: [...]
ACORD Forms ACORD forms are used in the insurance industry to standardize the collection of information for insurance applications, quotes, and policies. Carrier questions are a section of the [...]
Certificates of Insurance A Certificate of Insurance is a complete and defined document that includes all the important information about an insurance policy. It could be used, for instance, [...]
We can find the Insured’s name in the 5BPI group. The name of the insured can be a free-form text name, a family name, or an individual's name. The [...]
5PPH (Prior Policy History Group) This group refers to the Prior Policy History Group (like the previous carrier, policy number, etc). The relevant historical information pertaining to this policy [...]
In AL3 downloads, if a policy matches more than one policy record in AMS/CRM, that means we need to take a look at the downloaded transaction record and manually [...]
Insurance Coverage Area: The insurance coverage area can be defined as the geographic area in which an insurance policy's benefits will apply to the insured. In other words, it [...]
Introduction Towing and labor cost coverage is an optional coverage that pays the cost of towing the vehicle to a repair shop when it is unable to be driven. [...]
INSURANCE PREMIUM An insurance premium is the sum of money an individual or a business unit pays to the insurance company for an insurance policy. These policies cover home, [...]
