[December 07, 1999] Lexica Releases iLingo XML Schemas For Review. "Lexica has announced the release of a new set of XML schemas, collectively called iLingo, [which] provides the essential structural framework for deploying portable, robust transactional applications that enable business-to-business and business-to-consumer e-commerce. Paving the way for insurance carriers and distributors to more easily meet the exploding consumer demand for online services, Lexica LLC, a leading developer of end-to-end e-business supply chain management software for the insurance industry, today announced that it has published a preview set of Extensible Markup Language (XML) schemas on Microsoft's BizTalk.org and Lexica's iLingo.org Web sites. This is the industry's first comprehensive set of XML schemas posted to BizTalk.org that is specifically designed to empower the supply chain participants in the end-to-end automation of insurance selling and transaction processing. Once Version 1.0 is released in early 2000, iLingo will be freely available to any insurance or related financial services provider. Updates will be posted at www.ilingo.org, and to BizTalk.org. 'Lexica is offering iLingo to the industry as critical `head-start' technology, and we're leveraging it in our own product, Lexica Online,' said Peter Henry, Lexica's president and chief technology officer. 'We want it to be the preferred basis of insurance e-business transaction systems. Users will get several immediate benefits by using iLingo XML schemas, including the ability to easily exchange data with vendors, customers and other e-commerce partners; the ability to introduce new products online faster; and the ability to reduce their overall systems maintenance costs.' Lexica Online is an integrated, XML-based platform that enables companies to operate and participate in an efficient electronic marketplace with other trading partners as part of an automated supply chain. By using iLingo in its own software, Lexica will take the lead in building real-world solutions that break the logjam of inefficient inter-company transactions that has hampered insurance industry business processes and escalated costs. The company will also incorporate iLingo into its consumer Internet insurance site InsureZone.com. Developing an XML schema set targeted to the insurance industry is particularly significant due to the enormous potential for online insurance and the equally enormous technological challenges faced by this market segment when trying to establish an online presence. The industry's nearly $800 billion a year in premiums dwarfs other emerging e-commerce industries such as travel, book sales, music and video combined. Still the industry has long struggled to seamlessly and effortlessly automate the information exchange and workflow that occurs within its supply chain. The complexity of business processes, and the need to gather and generate data from many sources have served as near impenetrable barriers. [Lexica] will continue to refine the iLingo XML schemas in the coming months, with actual real-world examples from InsureZone.com and the Lexica Online software platform. Lexica will also continue to work closely with the appropriate standards bodies to further define its XML schema set. Lexica is a participating member of several technology initiatives and standards bodies including the Organization for the Advancement of Structured Information Standards (OASIS), ACORD and the Worldwide Web Consortium (WC3). Lexica will work with ACORD, which has the support and participation of more than 1,000 insurance carries and groups, 25,000 agencies, the major providers of software and services to the industry, and nonprofit associations including agency system user groups, nation producer associations, and the CPCU society. ACORD initially developed standard ACORD forms to enable information sharing in the industry, and has added data integration to its package of services." The iLingo FAQ document provides other information on the XML schema set. See also the full text of the announcement: "Lexica Releases iLingo XML Schemas for Industry Review, Posts It to Microsoft's BizTalk.org Web site. XML Schema Set Designed To Revolutionize Insurance Industry e-business." On ACORD, see the ACORD Web site and "ACORD - XML for the Insurance Industry."
iLingo contact: iLingo@lexica.net
[May 2000] "American Agent & Broker Lexica announced that its www.insurezone.com web site will be the first to use Extensible Markup language (XML) standards for comparing and buying auto insurance on the web. Lexica also plans to publish XML standards with the Organization for the Advancement of Structured Information Standards (OASIS) for other vendors to use. XML standards give carriers the ability to exchange data with vendors, customers and other e-commerce partners; to introduce new products online faster; and to reduce systems maintenance costs. For more information, call (415) 477-3600, or visit www.lexica.net or www.insurezone.com. Through its strategic scope and technological leadership, Lexica is delivering XML-based integrated platforms for the end-to-end automation of complex business-to-business transactions. . ."