Excess & Surplus Lines – Joint Working Group (E&S JWG)
The Independent Agents & Brokers of America’s Agents Council for Technology (ACT), the American, Association of Managing General Agents (AAMGA) and the National Association of Professional, Surplus Lines Offices (NAPSLO) and ACORD formed a joint initiative to improve the efficiencies for Retail Agents (RAs) interacting with managing General Agents (GAs) and wholesale brokers in the Excess & Surplus (E&S) market and to promote the electronic exchange of data between the partners.
The objectives of the initiative is to streamline the movement of data between Retail agents, General agents and the Global markets utilizing ACORD standards, electronic documents and messages.
The goal is to have the agency start in their agency management system or comparative rater for immediate access to GA or carrier information on that client/account. The transaction may be a quote, billing inquiry, claim inquiry/loss runs, policy view, endorsements or a request for information. This approach provides a single workflow for servicing and quoting.” RAs have recognized significant time savings, which have resulted in improved client service and more sales for the agents and carriers, and will lead to increased sales for GAs and E&S carriers.