In April, ACORD sponsored the 2014 Brokers and Reinsurance Markets Association Committee Rendezvous, a conference attended by high-level claims and contract professionals to address the latest topics and issues impacting the reinsurance industry.
A session with the intriguing title "Differentiate Yourself with Improved Service Through Streamlined Processes" was presented by Maggy Leon of ACORD and three representatives of the Ruschlikon North America Implementation Group: Debbie Worthington (AIG), John Canavan (Guy Carpenter), and Shawn Sylvester (Swiss Re). In the session, the speakers vividly illustrated the operational efficiencies companies can gain by implementing the ACORD GRLC standards and processes using the Ruschlikon Best Practices Guidelines. "By taking advantage of industry standards, AIG has been able to create a model of 'build it once and deploy it as needed,'" said Deborah Worthington, Senior Information Officer for Global Commercial IT, AIG.
Each presenter shared a viewpoint shaped by the individual experiences of his own company. "At Guy Carpenter, we view the adoption of e-commerce, based upon the ACORD standards, to be in the best interest of our clients and those markets looking to differentiate themselves based upon their payment performance," said John Canavan, Head of Global CSS, Guy Carpenter. "Swiss Re has worked with its partners in the industry to drive efficiency, quality and service higher by actively engaging in the development and promotion of e-business standards. The ACORD standard is a key element in achieving these objectives within the industry," added Shawn Sylvester, Vice President, Swiss Re.
The presentation was part of an advocacy effort by the Ruschlikon North America Implementation Group to apprise the industry of the benefits of using electronic transactions to improve operational accounting and claims functions in the (re)insurance industry.