This X12 Transaction Set contains the format and establishes the data contents of the Insurance/Annuity Application Status Transaction Set (273) for use within the context of an Electronic Data Interchange (EDI) environment. The transaction set can be used by insurance providers to inform their trading partners of the current status of a life insurance or annuity application during the underwriting process.

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ASPECTS OF SALES ORDERS IMPROVED BY EDI ACCURACY - 97%       PRODUCTIVITY - 92%       RESPONSE/CYCLE TIMES - 81%       SALES ACROSS COMPANY BORDERS - 75%       ABILITY TO TRACK/TRACE GOODS - 67%	ASPECTS OF PURCHASE ORDERS IMPROVED BY EDI ACCURACY - 91%       PRODUCTIVITY - 77%       RESPONSE/CYCLE TIMES - 74%       SALES ACROSS COMPANY BORDERS - 65%       ABILITY TO TRACK/TRACE GOODS - 74%
* Supply Chain Insights, LLC; B2B Study, June-September 2013. Survey of Manufacturers, Retailers, Distributors & others currently using EDI.

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