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LIMRA is trying to ease the employee benefits data exchangecrisis by providing a new set of employees benefits data formattingstandards.

The LIMRA Data Exchange Standards, or LDEx standards, could helpsimplify and speed up the way benefits administration technology companiesand insurers communicate about non-medical benefits, LIMRAsays.

The first version of the LDEx standards, Benefits EnrollmentManagement 1.0, can help the benefits administration tech companiessend insurers information about employees' coverage elections,changes and terminations in a consistent XML format, LIMRAsays.

Benefits administration tech companies can also use thestandards to send insurers information about demographicchanges.

The new standards support accidental death and dismembermentinsurance, critical illness insurance, cancer insurance,accident insurance, dental insurance, vision insurance, hospitalindemnity  insurance, and short and long-term disabilityinsurance products, as well as all life insurance products.

LIMRA is a Windsor, Connecticut-based organization thatprovides research services, consulting services and other servicesfor financial services companies.

LIMRA worked with its Data Exchange Standards Committeeto develop the new standards. The committee includesrepresentatives from 22 insurance companies and 16benefits administration technology companies.

The committee is planning to extend the new standards, LIMRAsays.

The committee intends to add standards that companies can use toexchange the information needed to service policies, informationabout evidence-of-insurability decisions, and leave-administrationdetails.