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News Detail

Mar 9, 2016

New ACORD GRLC Working Group

As reported in our recent meeting, a new ACORD Working Group has been set up within the GRLC domain to address Placing messages. This will now be the forum where any changes proposed to the GRLC Placing messages or guides will be considered and agreed upon.
This has been set up in response to new movement towards implementation of the Placing messages within the London Market – as part of their Target Operating Model (TOM) initiative – and the likelihood that this will generate proposals for enhancement of the existing GRLC Placing standards. London has a target to get its first lines of business live by mid-year, and ACORD is keen to support this implementation drive by proactive engagement of the Standards development process as we have done with global initiatives in the back office area. The new Placing Working Group will allow any such proposals to be shared with GRLC global members and ratified through the usual ACORD Standards development process.
The scope of the group will include message content and flows used: 

  • during the Quotation/Firm Order placing process itself,
  • after the placing process is complete (i.e. “Post-Placing”), and
  • for insurance and reinsurance contracts.

In recent joint meetings between the Rushlikon global implementation community and London Market TOM representatives, it was proposed that the two communities should work together in this area. The new Working Group provides a forum for that collaboration – as well as enabling all other ACORD GRLC members to participate, in line with the usual ACORD Standards development process.
To join the new Working Group – either to participate directly or keep a watching brief – go to the ACORD community page. (You just need to click the “Join this group” button there.)
Note that the kickoff meeting for the group is currently set for 16th March at 3.30pm UK time – and that dates for regular meetings have been set up also after that (see Calendar tab in the community page).