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Mar 15, 2018

ACORD To Provide Delegated Authority Standards For Lloyd's

New Partnership Provides Access to Straight-Through Processing Standards for Coverholders and MGAs

PEARL RIVER, New York, March 15, 2018 -- ACORD, the global standards-setting body for the insurance industry, today announced that Lloyd's coverholders are now eligible to access ACORD Delegated Authority Standards, information, training and other valuable resources. ACORD will continue to support London Market Target Operating Model (TOM).

The key benefits for Lloyd's coverholders include:

  • Access to all ACORD Standards for Delegated Authority Insurance Transactions
  • A platform to influence, access and collaborate on the Delegated Authority Standards
  • Full access to implementation guides, record layouts, messaging standards and documentation related to Delegated Authority Standards via www.acord.org
  • Implementation support of the Delegated Authority Standards (extended customer consulting services (fees apply)
  • Access to Testing and Certification platform and services
  • Discounted or complimentary access to other ACORD services such as research studies and white papers, events, training and education
  • Discounted ACORD Solutions Group (ASG) Implementation services, including access to ASG's DeleGate solution, to an ACORD participant

"The global insurance industry is evolving beyond the inefficient and time-consuming task of manual reporting and ACORD is at the forefront of this evolution," said Malou August, Vice President of Standards and Membership of ACORD. "Many industry stakeholders have already embraced the benefits of standards-driven automation and discovered how much it improves their business. As an industry-owned organization, it's important to us to support new innovations and solutions to meet the needs of our members." 

To gain access to the ACORD Delegated Authority Standards, you must be a participating Lloyd's coverholder and be registered on the ACORD website. To register, please visit www.acord.org and click "Join" to begin the registration process. ACORD Member Services will review your registration and eligibility, and will make the ACORD Delegated Authority Standards available or refer your registration to a Lloyd's associate for review. Once this step is complete, ACORD Member Services will send a notification about the status of your registration.

If you have any questions about how to register or to become an ACORD subscriber, please contact ACORD Member Services at memberservices@acord.org or (845) 620-1700.

About ACORD Corporation
ACORD (Association for Cooperative Operations Research and Development) is the global standards-setting body for the insurance and related financial services industries. ACORD facilitates fast, accurate data exchange, and efficient workflows through the development of electronic standards, standardized forms, and tools to support their use. ACORD members worldwide include hundreds of insurance and reinsurance companies, agents and brokers, software providers, financial services organizations and industry associations. ACORD maintains offices in New York and London. Learn more at www.acord.org.