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The ACORD 125 Commercial Insurance Application skill extracts data from ACORD commercial insurance application, which are four-page documents used to record general information about the client, such as business location and contact details, business description, prior insurance, and loss history. The ACORD 125 Commercial Insurance Application is a preview skill. It has been trained on a limited set of documents and is designed to help you quickly get started with processing commercial insurance applications. For production use, you may need to uptrain the skill with your own document samples.  The ACORD 125 Commercial Insurance Application skill recognizes handwritten text. This option is enabled by default. If you do not import handwritten forms, disable the Handwritten option in the skill settings. 

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Countries and Languages

CountriesLanguages
USAEnglish

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Extracted Fields

Asterisk (*) indicates a required field or field group. Values cannot be empty.

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Date

FieldDescription
DateThe date on which the form is completed.

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Agency

FieldDescription
NameThe full name of the insurance producer or agency.
AddressThe address of the insurance producer or agency.
Contact NameThe name of the primary contact person at the producer’s establishment.
PhoneThe phone number of the primary contact person at the producer’s establishment.
FaxThe fax number of the producer or agency.
E-mailThe e-mail address of the primary contact person at the producer’s establishment.
CodeThe identification code assigned to the producer (for example, an agency or brokerage firm) by the insurer.
SubcodeThe identification code assigned by the insurer to the sub-producer (for example, a natural person) within a producer’s office (for example, an agency or brokerage firm).
Customer IDThe identification number of the customer assigned by the producer (for example, an agency or brokerage firm).

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Carrier

FieldDescription
NameThe insurer’s full legal company name(s) as per the file copy of the policy.
NAIC CodeThe identification code assigned to the insurer by the National Association of Insurance Commissioners (NAIC).
Company Policy or Program NameThe description of an independently filed policy or program that may be optionally available from the insurance company.
Program CodeThe product code assigned by the insurer for the policy.
UnderwriterThe company underwriter (or other company staff person) that this form should be directed to.
Underwriter OfficeThe company underwriting office that this application should be directed to.

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Status of Transaction

FieldDescription
Status of Transaction
QuoteIndicates that the response expected from the company is a quote.
Issue PolicyIndicates that the response expected from the company is an issued policy.
RenewIndicates that the response expected from the company is a renewed policy.
BoundIndicates that the coverage has been bound.
ChangeIndicates that the policy is being submitted for a policy change.
CancelIndicates that the policy is being submitted for cancellation.
Date
DateThe date on which the policy status becomes effective. This date indicated for policy statuses of Bound, Change, and Cancel. The date value must be in the following format: MM/DD/YYYY.
Time
TimeThe time at which the policy status becomes effective. The time is used for policy statuses of Bound, Change, and Cancel.
AMIndicates that the time specified is AM.
PMIndicates that the time specified is PM.

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Sections Attached (repeating group)

FieldDescription
SelectedIndicates whether sections are attached to the application.
Section NameThe name of the attached section, if any.
Premium USDThe premium amount for the section.

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Attachments (repeating group)

FieldDescription
SelectedIndicates whether documents are attached to the application.
Attachment NameThe attachment’s full name, if any.

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Policy Information

FieldDescription
Proposed Effective DateThe effective date of the policy. The date on which the terms and conditions of the policy commence. The date value must be in the following format: MM/DD/YYYY.
Proposed Expiration DateThe date on which the terms and conditions of the policy will expire. The date value must be in the following format: MM/DD/YYYY.
Billing Plan
DirectIndicates whether the policy is to be billed directly.
AgencyIndicates whether the policy is to be billed to the producer or agency
Payment PlanThe payment plan for the policy.
Method of PaymentThe method for paying the invoice.
AuditThe audit term for policies that are subject to periodic audit.
DepositThe amount of the premium received as a deposit.
Minimum PremiumThe minimum premium amount for the policy.
Policy PremiumThe estimated total cost of the policy

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First Applicant

FieldDescription
Name*Information about the first insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
AddressInformation about the first insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
E-MailInformation about the first insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
Business PhoneInformation about the first insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
Website AddressInformation about the first insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
GL CodeThe code identifying the general liability nature of the business of the first insured.
SICThe Standard Industry Classification code assigned to the business activity of the first insured.
NAICSThe North American Industry Classification System (NAICS) 6-digit industry code assigned to the business activity of the first insured.
FEIN or SSNThe tax identifier of the first insured.
Business Type
CorporationIndicates the legal entity code of the first insured.
IndividualIndicates the legal entity code of the first insured.
Joint VentureIndicates the legal entity code of the first insured.
LLCIndicates the legal entity code of the first insured.
Not for Profit OrganizationIndicates the legal entity code of the first insured.
PartnershipIndicates the legal entity code of the first insured.
Subchapter S CorporationIndicates the legal entity code of the first insured.
TrustIndicates the legal entity code of the first insured.
OtherIndicates the legal entity code of the first insured.
LLC No of MembersThe number of members and managers of the limited liability corporation.
Business Type OtherThe description of the other type of legal entity.

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Non-First Applicant (repeating group)

FieldDescription
NameInformation about the insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
AddressInformation about the insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
E-MailInformation about the insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
Business PhoneInformation about the insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
Website AddressInformation about the insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
GL CodeThe code identifying the general liability nature of the business of the insured.
SICThe Standard Industry Classification code assigned to the business activity of the insured.
NAICSThe North American Industry Classification System (NAICS) 6-digit industry code assigned to the business activity of the insured.
FEIN or SSNThe tax identifier of the insured.
Business Type
CorporationIndicates the legal entity code of the insured.
IndividualIndicates the legal entity code of the insured.
Joint VentureIndicates the legal entity code of the insured.
LLCIndicates the legal entity code of the insured.
Not for Profit OrganizationIndicates the legal entity code of the insured.
PartnershipIndicates the legal entity code of the insured.
Subchapter S CorporationIndicates the legal entity code of the insured.
TrustIndicates the legal entity code of the insured.
OtherIndicates the legal entity code of the insured.
LLC No of MembersThe number of members and managers of the limited liability corporation.
Business Type OtherThe description of the other type of legal entity.

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Contact Information (repeating group)

FieldDescription
Contact TypeThe customer’s identification number assigned by the producer (for example, an agency or brokerage firm).
Contact NameThe full name of the contact.
Primary Phone
PhoneThe primary phone number of the contact.
HomeIndicates that the primary phone number is for a home phone.
BusinessIndicates that the primary phone number is for a business phone.
CellIndicates that the primary phone number is for a cell phone.
Secondary Phone
PhoneThe secondary phone number of the contact.
HomeIndicates that the secondary phone number is for a home phone.
BusinessIndicates that the secondary phone number is for a business phone.
CellIndicates that the secondary phone number is for a cell phone.
Primary E-mail AddressThe primary e-mail address of the contact.
Secondary E-mail AddressThe secondary e-mail address of the contact.

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Premises Information (repeating group)

FieldDescription
Location NumberThe address of the premises.
Building NumberThe address of the premises.
StreetThe address of the premises.
CityThe address of the premises.
CountyThe address of the premises.
StateThe address of the premises.
ZIPThe address of the premises.
City Limits
InsideIndicates that the building is within the city limits.
OutsideIndicates that the building is outside the city limits.
OtherIndicates that neither of the above applies. For example, for buildings in unincorporated areas.
City Limits OtherThe description of the risk location if not inside or outside the city limits.
Interest
OwnerIndicates that the insured’s interest in the building is as its owner.
TenantIndicates that the insured’s interest in the building is as its tenant.
OtherIndicates that the insured’s interest in the building is other than those listed.
Interest OtherThe description of the insured’s interest in the building when it is other than those listed.
Number of Full Time EmployeesSpecifies the number of full time employees.
Number of Part Time EmployeesSpecifies the number of part time employees.
Annual Revenues USDThe annual revenue amount for this location.
Occupied Area SQ FTThe area, in square feet, of the space in the building that is occupied by the insured.
Open to Public Area SQ FTThe area, in square feet, of the building that is open to the public
Total Building Area SQ FTThe number of square feet of the building or area occupied at this location for which insurance is being requested.
Any Area Leased to OthersThe field indicates whether the insured has any area that is leased to others. Possible values: Yes, No
YesIndicates that the insured has area leased to others.
NoIndicates that the insured does not have area leased to others.
Description of OperationsThe description of the business operations each applicant performs and the way they are conducted by premises.

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Nature of Business

FieldDescription
Date Business StartedThe date on which the business was started.
Nature of BusinessIndicates the nature of the business.
ApartmentsIndicates the nature of the business.
CondominiumsIndicates the nature of the business.
ContractorIndicates the nature of the business.
InstitutionalIndicates the nature of the business.
ManufacturingIndicates the nature of the business.
OfficeIndicates the nature of the business.
RestaurantIndicates the nature of the business.
RetailIndicates the nature of the business.
ServiceIndicates the nature of the business.
WholesaleIndicates the nature of the business.
OtherIndicates the nature of the business.
Nature of Business OtherThe description of the other nature of the business.
Description of Primary OperationsThe description of the primary operations of the business.
Retail Stores or Service Operations of Total Sales
Installation or Service or Repair WorkThe percentage of total sales of a retail store or service operation attributed to installation, service, or repair work.
Off Premises Installation or Service or Repair WorkThe percentage of total sales of a retail store or service operation attributed to installation, service, or repair work completed off premises.
Description of Operations of Other Named InsuredsThe description of the operations of the other insureds.

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Additional Interest

FieldDescription
InterestIndicates the additional interest type.
Additional InsuredIndicates the additional interest type.
Breach of WarrantyIndicates the additional interest type.
Co-ownerIndicates the additional interest type.
Employee as LessorIndicates the additional interest type.
Leaseback OwnerIndicates the additional interest type.
Lien HolderIndicates the additional interest type.
Loss PayeeIndicates the additional interest type.
MorgageeIndicates the additional interest type.
OwnerIndicates the additional interest type.
RegistrantIndicates the additional interest type.
TrusteeIndicates the additional interest type.
OtherIndicates the additional interest type.
Interest OtherThe description of the other type of additional interest.
Reason for InterestThe reason for including the additional interest.
NameThe additional interest’s full name.
AddressThe additional interest’s mailing address.
RankThe ranking of “this” additional interest when multiple additional interests are associated with the same item.
Evidence Document
EvidenceIndicates whether the additional interest requires evidence of insurance.
CertificateIndicates whether the additional interest requires a Certificate of Insurance.
PolicyIndicates whether additional interest requires a copy of the policy.
Reference or Loan NumberThe loan number, account number or other controlling number that the additional interest may have assigned the insured.
Lien AmountThe amount of the loan.
Interest End DateThe date the interest holder’s interest terminates.
PhoneThe primary phone number of the additional interest.
FaxThe primary fax number of the additional interest.
E-MailThe primary e-mail address for the additional interest.

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Key Fields

  • Date
  • Agency/Name
  • Carrier/Name
  • Carrier/Underwriter
  • Policy Information/Proposed Effective Date
  • First Applicant/Name

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Validation Rules

RuleDescription
Business Type Checkmark CheckChecks that only one field from the Business Type group is filled in. If more than one field is filled in, displays an error message.
Nature of Business Checkmark CheckChecks that only one field from the Nature of Business group is filled in. If more than one field is filled in, displays an error message.