Insured Information in an ACORD AL3

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Insured Information in an ACORD AL3

• www.winsurtech.com

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AL3 file

• AL3 stands for Automation level- 3. AL3 is a
  batch communication method designed by ACORD for
  both policy and commission data. A complete
  overview of AL3 standards is available in the
  Access database with supporting data dictionaries
  and documentation as well.
• We can also say that AL3 is an EDI standard for
  the insurance industry. ACORD AL3 is a library
  that implements AL3 messaging standards for
  communication between the property and casualty
  insurers, their agents, and other trading
  partners.

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Insured

• In generic terms, Insured refers to any person
  who is authorized to receive the benefits of the
  particular insurance policy. We can also say that
  an Insured is a person whose interests are
  protected by the insurance policy. Here the
  insurer makes a payment to the Insured in the
  form of a claim payment while they experienced a
  covered loss, any type of damage, or any injury
  that is covered under the policy term and
  conditions. Whereas in a personal policy Named
  Insured is described as a name of a person who
  purchases the policy and there can be more than
  one Insured on a policy, while we talk about the
  commercial policies Named Insured could be a
  name of the business or a company.

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Insured Information in an AL3 file

• In An AL3 file, All the data of policy is
  contained in the specific AL3 format which is not
  easy to read and we can not understand it without
  any suitable software. So first we need suitable
  software to get the details that exist in an AL3
  file. In an AL3 file, all the data contained
  within the specific groups and elements- belong
  to that particular group. So there are separate
  groups that exist in an AL3 file to contain the
  pieces of information related to Insured. Each
  element in these groups contains specific
  Information of Insured.

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• Some AL3 groups contain insured information and
  their elements
• There are some specific groups that are mentioned
  in an AL3 database that is used to pack the
  insured information. Description for some of
  those groups is discussed below
• Basic Insured Information In this group basic
  data of insured is collected which contains
  Insureds Name, Legal Entity Code related to the
  Insured, details about the Number of Member and
  Managers if any, and so on.
• An extension to the Basic Insured Information In
  this group, the Insureds address details and
  contact details are collected into their
  corresponding elements.
• Insureds Supplemental Information In this
  group, other supplementary insured related to the
  insured is added if any. This group contains
  information on Co-Insured, Insured occupation
  details, and other personal details.

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Method to check Information of Insured from an
AL3 file

• As already specified above, we need suitable
  software to Open an AL3 file on our computer
  screen. So that we can successfully open the AL3
  file and can get details of the insured.
• But if we want to get the separate details of
  Insured, it means we want to filter the insured
  data from the whole AL3 file. So there is one
  more method that we can use.
• We can use an API or a specific product which
  is offered by Winsurtech. This product contains
  several endpoints by which we can get the
  specific data from an AL3 file according to the
  mentioned endpoints.
• You can check WinsurTech REST API on
  https//developer.winsurtech.com/. Complete
  documentation of this product is also mentioned
  here (https//developer.winsurtech.com/apis_docs).
  
• So with the use of this Winsurtech API, we can
  get the separate information of Insured by using
  the Insured Details endpoint. Screenshot for
  references mentioned in slide

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