Inter-Association Advisory Council

Mission & Vision

Insurance agents, brokers, and other intermediaries serve a crucial role in the U.S. P&C market, providing the insured with unbiased advice and access to a wide range of policy options across multiple carriers. Their in-depth, local market expertise helps carriers refine products, improve underwriting, and access specialized markets. The efficient flow of information and data between distributors and carriers is key to delivering this value.

ACORD was originally founded to create standards that connect independent agents with insurance companies. For over fifty years, ACORD has developed essential forms and electronic data standards in formats like XML, AL3, and JSON, supporting millions of transactions and enabling efficient, real-time data exchange. ACORD remains committed to standardizing data sharing and advancing digital transformation in insurance. 

Amid technological advancements, data exchange continues to evolve. Ensuring that data is consistent, high-quality, and standardized is necessary for organizations to succeed. ACORD enables transformation in the industry with assets and initiatives to support the full spectrum of capabilities, from legacy technologies to next-generation digital workflows.

Coordination between industry stakeholders is critical to the successful development and integration of emerging standards and solutions. The ACORD Inter-Association Advisory Council (IAAC) has been established to unite leading North American P&C distribution-focused associations, in order to facilitate communication, transparency, and cooperation. 

The IAAC will play a central role in fostering inter-association cooperation and knowledge exchange, as well as driving modernization through the adoption of ACORD Data Standards. Together, we aim to ensure the industry recognizes the integral role of digital communication and standards in sustainable growth and resilience.

Focus Areas

The ACORD IAAC has identified five key initial areas of focus.

Data Rights of Insureds was selected as the first priority workstream.

Data is fundamental to the process of insurance. Insureds (prospective or existing) provide data to insurance intermediaries or directly to insurers to secure or maintain insurance coverage. However, few insureds have a detailed understanding of how their data is being used, or how many different entities receive and maintain their data. This lack of transparency contributes to a lack of trust in the insurance industry… particularly given the growing proliferation of Artificial Intelligence.

The ultimate goal of this exercise will be to provide regulators and legislators with a thoughtful set of recommendations, collectively agreed upon by the associations representing the primary recipients of insureds’ data – wholesale and retail independent insurance agents and brokers – who have the professional duty of care, custody, and control of that data.

Get Involved

For more information on how you can contribute to the ACORD Inter-Association Advisory Council, please email programs@acord.org.

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