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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.
Is it really surprising that recent research by the Coalition Against Insurance Fraud finds less than two in five people have a “favorable impression” of the insurance industry?
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.
A life insurance company that tried to underwrite policies the old-fashioned way would be out of business very quickly.
Gartner estimates that 30 percent of companies will be using biometric identification on their employees by 2016.
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.
Relief organizations, insurance companies, and national governments are all investigating the potential of drones both during and after disasters.