An insurance standards group is working with International Business Machines Corp. to revise a major library of electronic documents.
ACORD, Pearl River, N.Y., says it will use technology from IBM, Armonk, N.Y., to release an ACORD Forms Plus version of its existing ACORD Forms collection in early 2007.
The ACORD Forms Plus collection will include life, annuity, surety and property-casualty forms, ACORD says.
Insurers that adopt the new forms can accept electronic forms from agents, then have software pull XML data from the forms, ACORD says.
Users who are uncomfortable with filling out forms online can print and fax the forms.
For users who fill out the forms online, ACORD is adding an “overflow” feature. The feature will expand the size of boxes for names, addresses and other information to accommodate the information, ACORD says.