New insurance marketplace helps computers “talk”

A new Internet insurance marketplace is up and running, created by Riskebiz Internet Services Inc. The new site will provide links to web related services for insurers, brokers, adjusters and other insurance professionals.
The new site uses UDDI, a set of XML protocols and infrastructure, as a tool for searching based on line of business, licensing or geographical location, states a company press release. The UDDI project, which is comprised of 300 business and technology leaders working to develop web-based communication for e-business, has also created a global business registry to allow companies to publish and source web based services, including Riskebiz.
UDDI acts as a translator between insurance software systems and applications. “Insurance e-commerce across the Internet has been hindered by the inability of insurers and agents/brokers to (cost) effectively make their computers and software talk to one another,” the release goes on to say. “Riskebiz’s UDDI initiative will improve the ability of web based insurance software to connect to other software, thus profoundly increasing the efficiency of integrating web based applications and business process.