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The New York Department of Financial Services (DFS) recently approved versions of ACORD certificates of insurance currently available, along with planned future versions containing an edition date of 2016/03.
ACORD XML (AML) is now being used to send risk bound reporting data on property risks from Australia to the Lloyd’s market on a weekly basis straight through to systems in London with no rekeying.
As ACORD members leverage new technology at a faster pace to expose their applications to mobile phones, watches and telematics devices, new operating systems, cloud services and many smaller transactions, the advocacy for JSON becomes more prevalent.
A live audience will help the judging panel decide upon the first-ever Innovation Challenge winner during the ACORD2015 event this November.
A common view of the insurance industry holds that it moves too slowly, the status quo stays status quo, and new ideas - even great ones - don’t always result in action. It’s a sleeping giant that keeps hitting the snooze button.
The London Market Group (LMG) and The Boston Consulting Group (BCG) have published the results of an extensive market research into commercial insurance and reinsurance.
One of the top retirement trends introduced is the qualified longevity annuity (QLAC).
The new Cyber and Privacy Liability changes will be available with the release of ACORD P&C XML 1.29 scheduled for late June 2015.
This new asset provides implementers of the ACORD P&C Standards with documentation that will greatly reduce development time and associated costs, improve efficiency, drive a consistent industry-wide method for associating the standards, and keep the standards in sync.
The newly enhanced system, now called the “ACORD Test Harness,” will build upon all of the existing functionality used to test and certify ACORD messaging, but with updated capabilities designed to move the insurance industry into the future.
ACORD Standards are being used by companies doing business across geographies, across lines of business, and with more automation. Business practitioners want more straight-through processes, which creates a greater need for interoperability.
Learn more about the status of this project, and see how this initiative is gaining momentum.