What is BS EN 17419-1- Transfer of electronic documents in the insurance industry about?
BS EN 17419 is a European standard on digital information interchange in the insurance industry. BS EN 17419-1 provides the best industry guidance on the process and data model for the transfer of electronic documents in the insurance industry to facilitate the transfer of electronic documents.
BS EN 17419-1 is the first part of a multi-part series that defines the process and the structure of the transfer of electronic documents and facilitates the transfer of electronic documents between stakeholders in the insurance industry.
Who is BS EN 17419-1- Transfer of electronic documents in the insurance industry for?
BS EN 17419-1 on the transfer of electronic documents in the insurance industry is relevant to:
- Insurance company
- Business analyst
- Engineers
- IT package selectors
Why should you use BS EN 17419-1- Transfer of electronic documents in the insurance industry?
Insurance is a very document-centric business where the number of documents issued is extremely high with an average of at least one document yearly per insurance contract. Any strategy to establish a European Single Market for insurance products requires as a mandatory prerequisite the automated transfer of electronic documents for cross-border processes in the European insurance industry. Saved costs for document printing at the producer, saved costs for the transportation of physical documents and the avoidance of manual processing at the receiver due to automated processing are strong arguments for a digital transfer of documents. The reduced time for the document transfer supports faster processes for an increased satisfaction of insurance clients.
BS EN 17419-1 provides you with guidelines for the process and data model for the smooth transfer of electronic documents in the insurance industry. Different use cases specify the transaction information transfer between different business parties and define the appropriate data required by these business parties.
With compliance and obedience to BS EN 17419-1, you can facilitate the transfer of documents between various stakeholders involved in the insurance industry.
