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SEMCISingle Entry Multiple Company Interface (insurance)
SEMCISingle Entry, Multiple Carrier Interface (software)
References in periodicals archive ?
The great progress being made with real time is putting independent agencies in striking distance of achieving the vision of SEMCI.
Because SEMCI is just one application of SOA and since the majority of insurance agencies are still in fairly early stages of using SEMCI, the application of SEMCI will continue to evolve as it becomes more embedded in agency workflow.
A bigger issue, that SEMCI is part of, is for agents to be able to upload information from the carriers' databases about their customers so they can market more effectively for renewals and cross-selling," he said.
Grange Insurance is the first carrier to enable agents and customer service representatives using SEMCI PARTNER(r) from SIS to quickly find customer information, make payments and view claims, without the need to log on to another system.
The evolution of real-time SEMCI is helping to improve agents' work flow.
The idea of a single-entry, multiple-carrier interface-called SEMCI by industry representatives--is becoming a sort of "Holy Grail" for companies concerned about costs and efficiency.
According to the survey, only 32 percent of respondents use SEMCI to enter data and communicate with multiple insurers for quoting, issuing policies and handling policyholder inquiries.
A type of SEMCI (single-entry, multiple-company interface) will become a minimum standard for insurers and independent agents, minimizing the ability of insurers to use front-end data collection differences as an advantage.
Noting that the insurance industry has been talking about the SEMCI (single-entry, multiple carrier interface) concept for years, Horton added, "We're not talking pipedreams any more.
The combined solution also supports the insurance industry's SEMCI (Single Entry Multiple Company Interface) goals for eliminating duplicate data entry between independent agents and P&C insurers, and the implementation of ACORD XML to facilitate the processing of transactions in real-time.
For years, many agents and carriers envisioned single-entry, multiple-carrier interface as the solution to this problem, but now many believe the evolution of SEMCI into real-time interface is the answer that will help them save both time and money.