The Vision of Surety Automation

The objective of surety automation is to employ technology to streamline processes, reduce redundancies and increase productivity in the surety bond process, which spans the application for the bond, the execution and submission of the bond and the processing of premium. The objectives of surety automation are realized fully when methodologies involving transmission, security, verification and data integration encourage the broadest participation by surety companies, surety bond producers, contractors, project owners, risk managers and other parties in the bond process. Any methodology should seek to maximize interoperability among disparate systems. Broad participation in surety automation is the vision. Interoperability through open standards and systems is the way to that vision.

Surety Data Standards

See a useful, brief infographic on the value of surety data standards. To learn about the Surety Data Standards Toolkit and how to realize value from its implementation, visit the Toolkit page.  You can find out about the Standards Pledge here. View the recorded webinar introducing the Toolkit. For more updates on surety data standards, please visit the XBRL and ACORD Surety Forms pages.

Surety Innovation Center

The First Surety Innovation Center was held at the 2017 NASBP Annual Meeting in Boca Raton, Florida. Learn more by clicking here.

Latest Automation News

With competition intensifying, insurers are seizing on new technologies to streamline their processes and satisfy their customers. Read on to learn more.
Carriers have seen how insurtechs are looking to attack the sector, and are now pivoting their strategies to match.
Last year was a significant one for health plans when it came to data breaches and breach settlements.
Telemedicine is on the rise, nearly tripling in use over the past two years, according to Rochester, N.Y.-based Excellus BlueCross BlueShield.
Frank Neugebauer, formerly of Genpact and ACORD, will run the new business segment.
Top investments to support digital transformation are focused on migrating to the cloud and IT security, as well as artificial intelligence, big data, and the Internet of Things.
Job openings for the information-technology sector have increased more than 4{0c8908737bf07150ea3dad720aad4b39de9136cc84c52945e8721326be94a901} in the past year, according to S&P.
The technology will offer assisted-driving features on highways.
If we, as an industry, continue to seek only incremental change, we will wake up in three to five years to discover that we have missed out on opportunities to advance.
The 85 deals posted was the most ever reported in a quarter, according to Willis Towers Watson\'s Quarterly Insurtech Briefing.

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