Penguin.Tech leverages the vast benefits of implementing the ACORD model to create a unified language that can transform everyday Insurtech operations from reliable and steady to reliable, quick, and efficient. The business benefits quickly become obvious as costs are reduced, productivity is enhanced, and profits are increased. Penguin.Tech uses ACORD for a full stack
Here at Penguin.Tech, we drive home an “all-or-none approach” when implementing ACORD specifications. We know our clients benefit the most from our services when we implement ACORD specifications throughout the organization in a unified fashion. It is a value-add to insurance companies and ensures an unsurpassed stabilization to the infrastructure. ACORD can be
Digital acceleration, enhancement, and distribution plans are a must technical initiative for today’s property and casualty insurers. 2019 projections are estimating that about four out of five property and casualty (P&C) insurers either have, or are planning to set up, wholly digital sales processes in which humans are involved only when customers need
The insurance sector is on the cusp of a digital revolution that will redefine how it operates. By integrating Penguin.Tech’s advanced digital technologies and ACORD Standards, with leading core insurance platforms, like Duck Creek Technologies, we can help reshape the way the industry operates and find more efficient and effective ways for
A new report issued by Accenture indicates that the intersection of insurance and technology has increasingly been on the radar for executives across the United States. How InsurTech has, and will be implemented, and what lasting impacts it will have on the insurance industry is a major concern among these executives. In fact, according
A lot of vendors and carriers do use the ACORD data model, but loosely. ACORD specifications do allow for flexibility and customization, which can create interpretive methods and result in a half-baked implementation of an ineffective data model. Penguin.Tech strives against this practice to strictly follow the ACORD standards to avoid unnecessary and
Many insurance software applications, such as property and casualty (P&C) insurance applications, are built as monolithic applications, and this has led to several performance challenges in the past. A prominent risk with monolithic applications is that a failure in one part of the application usually impacts the entire software application. Also, the different
It goes without saying that technology has influenced almost all industries in the world, and insurance has not been left out. In fact, technology has greatly transformed insurance and led to what is now known as InsurTech. This refers to the use and application of technology in various insurance operations to improve efficiency.