Tyler Technologies Expands Insurance Filing Solution to Four Additional States Through Cloud Fax Capability
Tyler Technologies (NYSE: TYL) has expanded its Tyler Insurance Filings solution to include cloud fax capabilities for Montana, Nevada, Rhode Island, and West Virginia. This brings the total to 27 states using the service. The new feature offers greater efficiency, accessibility, and compliance ease for insurance companies by allowing them to submit forms online without traditional fax machines. The service is available at no extra cost, integrated into existing workflows, and provides centralized reporting features for tracking and historical data access.
- Expanded service coverage now includes 27 states.
- New cloud fax capability eliminates the need for traditional fax machines.
- Greater efficiency and time savings in filing procedures.
- Service integrated into existing workflows with a simple interface.
- No additional costs for using the cloud fax service.
- Enhanced compliance ease for insurance companies.
- Centralized reporting features for tracking and historical data access.
- Potential dependency on the cloud fax service for compliance.
- to states that do not support direct electronic transmission.
- Operating within only 27 states, limiting reach.
Insights
Tyler Technologies has expanded its Tyler Insurance Filings solution to include cloud fax capabilities in four new states: Montana, Nevada, Rhode Island and West Virginia. This expansion allows insurance companies to submit forms via a more streamlined and accessible online interface, which can significantly enhance operational efficiency.
From a technical perspective, the integration of cloud faxing is a notable enhancement. It leverages an API (Application Programming Interface) to send documents, which means states lacking direct electronic filing integration can still receive filings. This is a smart move, addressing a technical gap that exists in current systems.
For retail investors, staying aware of how technological advancements can affect a company's market position is crucial. Tyler Technologies’ focus on leveraging APIs and cloud services demonstrates their commitment to innovation and enhances their value proposition in the public sector.
The expansion of Tyler Technologies' filing solution to four additional states is noteworthy in terms of market accessibility. By enabling cloud fax capabilities, the company is broadening its user base and potentially attracting more insurance companies that face challenges with traditional fax systems. This move can lead to increased adoption of Tyler’s solutions, thereby boosting revenue and market share.
Additionally, offering this service at no added cost beyond the standard filing fee could attract cost-sensitive customers. This strategic pricing can enhance customer loyalty and make Tyler's offerings more competitive.
For retail investors, understanding the market dynamics and the competitive landscape is key. This expansion could signify stronger market penetration and a growing customer base, both positive indicators for the company's future revenue prospects.
Service brings greater accessibility and centralized reporting to insurance companies
“This new cloud fax capability brings greater access to insurance companies to file important proof of insurance forms in an easy-to-use and convenient manner,” said Helen Russell, general manager in Tyler’s Digital Solutions Division. “Insurance companies enrolled in Tyler Insurance Filings can file common and required insurance forms online, using a simple, repeatable workflow, to 27 states.”
Tyler Insurance Filings’ cloud fax service uses an Application Programming Interface (API) to send fax documents using the cloud to states that do not currently have a direct connection or the capability to receive filings from the Tyler Insurance Filings system via standard electronic transmission. The introduction of the cloud fax service – now in
The cloud fax service brings several notable benefits to insurance companies in these four additional states, including:
- Greater efficiency. The integration of cloud fax capabilities eliminates the need for traditional fax machines and enables users to streamline their workflow effectively. By generating and transmitting these forms directly within Tyler Insurance Filings, users can experience significant time savings and increased efficiency.
- Accessibility. The fax service is easily accessible to users, with availability through the same interface they use to create electronic filings to 23 other participating states. The simple interface only requires the check of a box to opt in to send a standard filing via cloud fax.
- Ease of compliance. The increased efficiency of instant fax submissions simplifies the process for insurance companies to ensure their motor carrier clients remain in compliance with agency insurance regulations.
- Centralized reporting. Tyler Insurance Filings incorporates fax submissions into existing reporting features that insurance companies already use for their other online filings. As with other Tyler Insurance Filings submissions, filers can utilize standard reports to track the status of their faxes, review historical filing data, and access forms in PDF format.
About Tyler Technologies, Inc.
Tyler Technologies (NYSE: TYL) is a leading provider of integrated software and technology services for the public sector. Tyler’s end-to-end solutions empower local, state, and federal government entities to operate efficiently and transparently with residents and each other. By connecting data and processes across disparate systems, Tyler’s solutions transform how clients turn actionable insights into opportunities and solutions for their communities. Tyler has more than 44,000 successful installations across 13,000 locations, with clients in all 50 states,
#TYL_General
View source version on businesswire.com: https://www.businesswire.com/news/home/20240528669641/en/
Jennifer Kepler
Tyler Technologies
972.713.3770
Media.team@tylertech.com
Source: Tyler Technologies
FAQ
What new feature has Tyler Technologies introduced for its Insurance Filings solution?
Which states are included in the expansion of Tyler Insurance Filings?
How many states now use Tyler Insurance Filings?
Are there additional costs associated with the new cloud fax service?
What benefits does the cloud fax service provide to insurance companies?
