POMPANO BEACH, Fla., May 4, 2004 (PRIMEZONE) -- Insurance technology services provider Blue Frog Solutions has announced that the type code mapping that resulted from its effort with The Depository Trust & Clearing Corporation (DTCC) to map all the DTCC's Insurance Processing Service (IPS) feeds to ACORD's XMLife model is now available for general use.
Blue Frog prepared the type code mapping originally for its ADMServer for IPS Connectivity Module built jointly with the DTCC to allow carriers and distributors to more easily access DTCC's Insurance Processing Service (IPS). Built on the ADMServer Framework, a middleware framework for the Life and Annuity Markets, ADMServer for IPS Connectivity helps insurance carriers and distributors receive DTCC IPS Formats, and process them in either the DTCC, ACORD or a custom Format, allowing fast implementation and minimal changes or maintenance to legacy systems. Now that the DTCC formats are available for public use throughout the industry Blue Frog wants to provide the community with information to leverage the benefits of both the DTCC formats and the ACORD model.
"Blue Frog has worked closely with ACORD and DTCC to create a solution that has already been implemented with many major insurance carriers and distributors," says Brad Levine, Blue Frog's CEO. "ADMServer for IPS Connectivity utilizes these code mappings, and we believe that making them available will ultimately benefit the insurance market in general."
According to Randi B. Gordon, DTCC's Group Director, Insurance Services, Blue Frog is a valued partner of DTCC. "DTCC and Blue Frog teamed to create documents for the industry to use to understand how the DTCC mapping and ACORD mappings align in terms of validation codes," says Gordon. "We believe that this is a huge benefit for systems that want to use DTCC mapping, as well as for the insurance industry in general."
According to Rick Heil, ACORD's Life Standards Program Manager, as the continued expansion of ACORD Standards usage continues throughout the industry many insurance companies and major distributors have been expanding their internal and external use of the ACORD Life Standards to also communicate with the DTCC, either manually mapping from the ACORD model to the DTCC file formats, or using third party service providers and/or aggregators.
"ACORD is pleased that Blue Frog has offered to share the mappings they have developed between the ACORD Standard and DTCC layouts," Heil says. "This provides a good common reference for all ACORD Standards users to consistently map to DTCC layouts."
"In addition," says Heil, "it also validates that the information necessary for any DTCC messages is fully supported within the ACORD Life Standards. This marks a significant milestone as organizations continue to leverage the ACORD Life Standards across all lines of business and all distribution channels and being able to translate the ACORD Messages to specific vendor layouts as necessary," he adds.
For specific information on the DTCC to ACORD mappings, please direct inquiries to Doug Massey at 801-434-9047.
About Blue Frog Solutions
Blue Frog Solutions, based in Pompano Beach Florida, is a leading technology solutions provider for the financial services and insurance industry. Specializing in ACORD Standards and DTCC/NSCC implementations Blue Frog Solutions provides Software Systems, Web Services, System Integration, and Application Development on its flagship ADMServer Framework as well as Design, and technology Strategy/Management Consulting services.
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