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Over the past few years, the leading research
firms including Celent Communications, Gartner Group, Tower
Group, Giga Research, MetaGroup and the United Nations
have recognized the contributions of ACORD and ACORD data
standards to improving communications in the insurance
sector.
Researchers Say ACORD is …
...the de facto global e-commerce standards body for insurance.
— Source: United Nations
Conference on Trade and Development, 2002,
E-Commerce And Development Report
...the dominant data standards in this
sector.
— Source: Giga Research,
August 2004,
IT Opportunities and Issues for Insurance: ACORD XML
Will Be the Dominant Data Standard... Eventually
...the primary XML standard for insurers.
— Source: Gartner,
December 2001,
Insurance XML Strategy and Implementation Best Practices
...almost universal among carriers
that support multiple distribution channels.
— Source: Celent, January
2003,
Technology & the Evolution of Insurance Distribution
...the industry’s data standard
for systems integration and partner communication.
— Source: Celent, November
2003,
Insurance CIO/CTO Pressures, Priorities, Projects,
and Plans: 2003 Survey Results
Researchers Say… ACORD is a Best
Practice
Best Practice No. 4: Adopt Insurance-Specific
ACORD Standards.
— Source: Gartner,
December 2001,
Insurance XML Strategy and Implementation Best Practices
Best Practices for Adoption… Join
ACORD and become active members. The best way to make
sure that the standards are suitable for your business
is to help shape them.
— Source: Celent, October
2002,
ACORD Standards in US Insurance
Researchers
Say… ACORD Increases Efficiency
Carriers surveyed by Celent either expected
to achieve or had already achieved integration efficiencies
on the order of 20%-30% by using ACORD XML standards. A few
individual carriers reported efficiencies on some projects
of as much as 80%. A 20%-30% reduction in integration costs
would reduce integration from 23% of new project budgets
to between 15%-20%. If embraced universally throughout the
US insurance industry, the use of standards could save the
industry over US$250 million in technology costs annually.
— Source: Celent, October
2002,
ACORD XML Standards in US Insurance
Researchers Say… ACORD is a Business Advantage
Those developers that can provide solutions
for integrating existing or legacy systems while ensuring
that users can easily and cost effectively transform data
between other data formats and XML using ACORD standards
may have a competitive advantage.
— Source: United Nations
Conference on Trade and Development, 2002,
E-Commerce And Development Report
The benefits to all participants are
compelling, and ACORD XML seems to strike the right balance
between richness of data and ease of implementation.
— Source: Celent, January
2003,
Technology & the Evolution of Insurance Distribution
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