ACORD 125 Commercial Insurance Application - Document Skill

The ACORD 125 Commercial Insurance Application skill extracts data from ACORD® 125 forms — the four-page commercial insurance application used across the US insurance industry to capture 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.

Countries and Languages

Countries	Languages
USA	English

Extracted Fields

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

Date

Field	Description
Date	The date on which the form is completed.

Agency

Field	Description
Name	The full name of the insurance producer or agency.
Address	The address of the insurance producer or agency.
Contact Name	The name of the primary contact person at the producer’s establishment.
Phone	The phone number of the primary contact person at the producer’s establishment.
Fax	The fax number of the producer or agency.
E-mail	The email address of the primary contact person at the producer’s establishment.
Code	The identification code assigned to the producer (for example, an agency or brokerage firm) by the insurer.
Subcode	The 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 ID	The identification number of the customer assigned by the producer (for example, an agency or brokerage firm).

Carrier

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

Status of Transaction

Field	Description
Status of Transaction
Quote	Indicates that the response expected from the company is a quote.
Issue Policy	Indicates that the response expected from the company is an issued policy.
Renew	Indicates that the response expected from the company is a renewed policy.
Bound	Indicates that the coverage has been bound.
Change	Indicates that the policy is being submitted for a policy change.
Cancel	Indicates that the policy is being submitted for cancellation.
Date
Date	The 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
Time	The time at which the policy status becomes effective. The time is used for policy statuses of Bound, Change, and Cancel.
AM	Indicates that the time specified is AM.
PM	Indicates that the time specified is PM.

Sections Attached (repeating group)

Field	Description
Selected	Indicates whether sections are attached to the application.
Section Name	The name of the attached section, if any.
Premium USD	The premium amount for the section.

Attachments (repeating group)

Field	Description
Selected	Indicates whether documents are attached to the application.
Attachment Name	The attachment’s full name, if any.

Policy Information

Field	Description
Proposed Effective Date	The 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 Date	The 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
Direct	Indicates whether the policy is to be billed directly.
Agency	Indicates whether the policy is to be billed to the producer or agency
Payment Plan	The payment plan for the policy.
Method of Payment	The method for paying the invoice.
Audit	The audit term for policies that are subject to periodic audit.
Deposit	The amount of the premium received as a deposit.
Minimum Premium	The minimum premium amount for the policy.
Policy Premium	The estimated total cost of the policy

First Applicant

Field	Description
Name*	Information about the first insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
Address	Information about the first insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
E-Mail	Information about the first insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
Business Phone	Information about the first insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
Website Address	Information about the first insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
GL Code	The code identifying the general liability nature of the business of the first insured.
SIC	The Standard Industry Classification code assigned to the business activity of the first insured.
NAICS	The North American Industry Classification System (NAICS) 6-digit industry code assigned to the business activity of the first insured.
FEIN or SSN	The tax identifier of the first insured.
Business Type
Corporation	Indicates the legal entity code of the first insured.
Individual	Indicates the legal entity code of the first insured.
Joint Venture	Indicates the legal entity code of the first insured.
LLC	Indicates the legal entity code of the first insured.
Not for Profit Organization	Indicates the legal entity code of the first insured.
Partnership	Indicates the legal entity code of the first insured.
Subchapter S Corporation	Indicates the legal entity code of the first insured.
Trust	Indicates the legal entity code of the first insured.
Other	Indicates the legal entity code of the first insured.
LLC No of Members	The number of members and managers of the limited liability corporation.
Business Type Other	The description of the other type of legal entity.

Non-First Applicant (repeating group)

Field	Description
Name	Information about the insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
Address	Information about the insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
E-Mail	Information about the insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
Business Phone	Information about the insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
Website Address	Information about the insured (that is, the organization that has purchased the insurance coverages shown on the certificate).
GL Code	The code identifying the general liability nature of the business of the insured.
SIC	The Standard Industry Classification code assigned to the business activity of the insured.
NAICS	The North American Industry Classification System (NAICS) 6-digit industry code assigned to the business activity of the insured.
FEIN or SSN	The tax identifier of the insured.
Business Type
Corporation	Indicates the legal entity code of the insured.
Individual	Indicates the legal entity code of the insured.
Joint Venture	Indicates the legal entity code of the insured.
LLC	Indicates the legal entity code of the insured.
Not for Profit Organization	Indicates the legal entity code of the insured.
Partnership	Indicates the legal entity code of the insured.
Subchapter S Corporation	Indicates the legal entity code of the insured.
Trust	Indicates the legal entity code of the insured.
Other	Indicates the legal entity code of the insured.
LLC No of Members	The number of members and managers of the limited liability corporation.
Business Type Other	The description of the other type of legal entity.

Contact Information (repeating group)

Field	Description
Contact Type	The customer’s identification number assigned by the producer (for example, an agency or brokerage firm).
Contact Name	The full name of the contact.
Primary Phone
Phone	The primary phone number of the contact.
Home	Indicates that the primary phone number is for a home phone.
Business	Indicates that the primary phone number is for a business phone.
Cell	Indicates that the primary phone number is for a cell phone.
Secondary Phone
Phone	The secondary phone number of the contact.
Home	Indicates that the secondary phone number is for a home phone.
Business	Indicates that the secondary phone number is for a business phone.
Cell	Indicates that the secondary phone number is for a cell phone.
Primary E-mail Address	The primary email address of the contact.
Secondary E-mail Address	The secondary email address of the contact.

Premises Information (repeating group)

Field	Description
Location Number	The address of the premises.
Building Number	The address of the premises.
Street	The address of the premises.
City	The address of the premises.
County	The address of the premises.
State	The address of the premises.
ZIP	The address of the premises.
City Limits
Inside	Indicates that the building is within the city limits.
Outside	Indicates that the building is outside the city limits.
Other	Indicates that neither of the above applies. For example, for buildings in unincorporated areas.
City Limits Other	The description of the risk location if not inside or outside the city limits.
Interest
Owner	Indicates that the insured’s interest in the building is as its owner.
Tenant	Indicates that the insured’s interest in the building is as its tenant.
Other	Indicates that the insured’s interest in the building is other than those listed.
Interest Other	The description of the insured’s interest in the building when it is other than those listed.
Number of Full Time Employees	Specifies the number of full time employees.
Number of Part Time Employees	Specifies the number of part time employees.
Annual Revenues USD	The annual revenue amount for this location.
Occupied Area SQ FT	The area, in square feet, of the space in the building that is occupied by the insured.
Open to Public Area SQ FT	The area, in square feet, of the building that is open to the public
Total Building Area SQ FT	The number of square feet of the building or area occupied at this location for which insurance is being requested.
Any Area Leased to Others	The field indicates whether the insured has any area that is leased to others. Possible values: Yes, No
Yes	Indicates that the insured has area leased to others.
No	Indicates that the insured does not have area leased to others.
Description of Operations	The description of the business operations each applicant performs and the way they are conducted by premises.

Nature of Business

Field	Description
Date Business Started	The date on which the business was started.
Nature of Business	Indicates the nature of the business.
Apartments	Indicates the nature of the business.
Condominiums	Indicates the nature of the business.
Contractor	Indicates the nature of the business.
Institutional	Indicates the nature of the business.
Manufacturing	Indicates the nature of the business.
Office	Indicates the nature of the business.
Restaurant	Indicates the nature of the business.
Retail	Indicates the nature of the business.
Service	Indicates the nature of the business.
Wholesale	Indicates the nature of the business.
Other	Indicates the nature of the business.
Nature of Business Other	The description of the other nature of the business.
Description of Primary Operations	The description of the primary operations of the business.
Retail Stores or Service Operations of Total Sales
Installation or Service or Repair Work	The 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 Work	The 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 Insureds	The description of the operations of the other insureds.

Additional Interest

Field	Description
Interest	Indicates the additional interest type.
Additional Insured	Indicates the additional interest type.
Breach of Warranty	Indicates the additional interest type.
Co-owner	Indicates the additional interest type.
Employee as Lessor	Indicates the additional interest type.
Leaseback Owner	Indicates the additional interest type.
Lien Holder	Indicates the additional interest type.
Loss Payee	Indicates the additional interest type.
Morgagee	Indicates the additional interest type.
Owner	Indicates the additional interest type.
Registrant	Indicates the additional interest type.
Trustee	Indicates the additional interest type.
Other	Indicates the additional interest type.
Interest Other	The description of the other type of additional interest.
Reason for Interest	The reason for including the additional interest.
Name	The additional interest’s full name.
Address	The additional interest’s mailing address.
Rank	The ranking of “this” additional interest when multiple additional interests are associated with the same item.
Evidence Document
Evidence	Indicates whether the additional interest requires evidence of insurance.
Certificate	Indicates whether the additional interest requires a Certificate of Insurance.
Policy	Indicates whether additional interest requires a copy of the policy.
Reference or Loan Number	The loan number, account number or other controlling number that the additional interest may have assigned the insured.
Lien Amount	The amount of the loan.
Interest End Date	The date the interest holder’s interest terminates.
Phone	The primary phone number of the additional interest.
Fax	The primary fax number of the additional interest.
E-Mail	The primary email address for the additional interest.

Key Fields

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

Validation Rules

Rule	Description
Business Type Checkmark Check	Checks 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 Check	Checks 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.

​Countries and Languages

​Extracted Fields

​Date

​Agency

​Carrier

​Status of Transaction

​Sections Attached (repeating group)

​Attachments (repeating group)

​Policy Information

​First Applicant

​Non-First Applicant (repeating group)

​Contact Information (repeating group)

​Premises Information (repeating group)

​Nature of Business

​Additional Interest

​Key Fields

​Validation Rules

Countries and Languages

Extracted Fields

Date

Agency

Carrier

Status of Transaction

Sections Attached (repeating group)

Attachments (repeating group)

Policy Information

First Applicant

Non-First Applicant (repeating group)

Contact Information (repeating group)

Premises Information (repeating group)

Nature of Business

Additional Interest

Key Fields

Validation Rules