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Page Content The ACORD Framework is the next evolution of standards development and a new era in what ACORD delivers to the insurance industry. The industry is becoming more diverse and the marketplace more global. The ACORD Framework represents a single streamlined business model for standards creation that is flexible enough to cross lines of business and geographic borders.
The Five Facets
The ACORD Framework is a series of five interrelated models, or facets, that use different views to define the nature of the insurance industry.
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Business Glossary
The Business Glossary contains standardized
definitions of insurance concepts, such as “accident
location”, and includes synonyms, business
line-specific usage, and references.
The Business Glossary’s consistent terminology
will help improve communication between partners and
within project teams.
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Capability Model
The Capability Model defines a baseline of the
things insurance companies need to do – the
company’s capabilities. It includes a listing
of process names for some of those capabilities,
called Process Maps. This model can be used in
process engineering, merger/divestiture evaluations
and business operations analysis.
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Information Model
The Information Model provides the
relationships among insurance concepts, such
as Policy, Product, Party, and Claims. It
can be used to jump start application
development, consume ACORD XML messages, and
as a semantic model for integration, among
other uses.
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The Information Model 2.0 general release
is now available. This release is a major
iteration of the ACORD Framework Information
Model, harmonizing concepts found in the 1.x
releases, concepts from the IBM donation of
the Business Object Model along with
refinements suggested by many cross domain
industry experts. Please view the readme
file for additional details.
If you wish to view the model in the
native MagicDraw format and do not currently
own the MagicDraw UML client, you can
download a free viewer at
https://secure.nomagic.com/download/reader.
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Data Model
The Data Model is a logical level
entity-relationship model. “Logical
level” implies that it can be used in
any database implementation. Some of the
many uses of the ACORD Data Model
include creating physical data models,
data warehouses, or to validate your own
data models.
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Component Model
The Component Model is a
set of reusable components
for the various data
services in the insurance
industry, organized around
the kinds of concepts
described in the other
models. This model has many
uses including portfolio
rationalization design and
the basis of specifications
for software builds or buys.
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