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Business-to-Business Commerce and Computer Networks in P & C InsurancePublished by: TowerGroup Published: Oct. 1, 1999 - 9 Pages Table of ContentsHighlights Introduction Unique Data Challenges in Insurance A Bit o' History Evolution of EDI The Promise of New Communicatios Protocols Conclusion AbstractElectronic Data Interchange is a well-established means of transacting business at large property and casualty insurers. Networks are complicated and expensive to establish, but once installed, are highly valued as a secure and efficient method of communication between trading partners. These EDI connections form the backbone of electronic commerce between the insurers, their suppliers, their agents, and their banks, and are frequently proprietary in nature.Innovations in network technology will eventually change EDI, but change will come slowly and incrementally. The great potential of the Internet, the Web, and languages such as XML in terms of the transmission and management of data represent a double-edged sword when it comes to EDI. The open nature of these technologies will be approached with caution, and this TowerGroup Research Note examines the reasons why.
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