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Technology Stocks : CheckFree (CKFR) -- Ignore unavailable to you. Want to Upgrade?

To: TLindt who wrote (4085)	5/15/1998 10:09:00 AM
From: BitWizrd	Read Replies (1) \| Respond to of 8545

E-Bill and Insurance Companies Getting E-bill up and running with an insurer is a royal pain in the tuchas. So far, CKFR has implemented it with a rinky-dink outfit in Pigstink, Iowa called CUNA. It took nearly two years to implement (compare with FP&L or Capstead, about 5 months). Delivering the bill is simple enough, it's getting the payment back correctly that gives you the migraine. An insurer will have multiple coverages and policies under a single account number. The problem is that their is no simple way to make sure that the correct portions of the lump payment are applied to each policy within the same biller account. The X12 subcommittee of ANSI is working on a standard specification for what's called an EDI transaction set. It's a set of electronic messages that standardize instructions about what amounts should go to which accounts, etc. There are standard instruction sets that can be used for many, many different kinds of businesses, but none of them lend themselves easily to the insurance industry. I suspect we won't see this juicy market opened wide for CheckFree until the X12 subcommittee finishes its work. But when it does, well, T is right. Andrew.