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Kathryn Ellis

Beth Jarecki

Dec 17, 2019

Eurobase Partners with ACORD Solutions Group to Aid Data Standardization

Global Software Provider has become a Licensed Integrator Partner (LIP) with a formal mechanism to drive ACORD Standards adoption.

LONDON, UK, December 17, 2019 – Global software and service provider Eurobase announced today that it has become a Licensed Integrator Partner of ACORD Solutions Group, enabling it to maximize the value of leveraging ACORD assets and services for its customers.

By ensuring the delivery of messaging data in a secure, standardised format, Eurobase will enable consistent Straight Through Processing for its customers, as well as interfacing with key London Market initiatives such as PPL and Whitespace.

“Digital messaging and data standardisation are key to delivering greater operational efficiency. ACORD is recognised as providing the preferred electronic data standards across the (Re)Insurance industry and we are pleased to be extending our long-standing relationship with them through this partnership,” said Joe Locke, CEO Insurance & Banking Solutions at Eurobase.

ACORD Data Standards are widely used throughout the insurance industry, with ACORD members accounting for half of global gross written premiums. ACORD’s industry-owned iConductor operationalises these Standards to create a comprehensive global messaging and data service, which aligns individual messages with industry processes to centralise and simplify workflow.

“Eurobase has a truly global footprint, providing a valuable perspective on industry trends,” said Chris Newman, ACORD’s Managing Director, Global. “They see a growing demand for data standardisation in emerging markets and geographies, and an awareness that standards are paramount to ensuring the integrity of customers’ data. That’s where we can provide value.”

Eurobase customers who will be served through this partnership are primarily members of the Ruschlikon initiative, a community dedicated to implementing ACORD Standards for reinsurance transactions.

“ACORD and its members have been reducing barriers to data exchange for 50 years,” Newman continued. “ACORD iConductor was created as a ‘universal adaptor’ to manage, convert, and transport data in various formats. It was built on behalf of the industry, allowing them to capitalise on improved data quality, cost savings, and other benefits of standardisation.”

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About Eurobase

Eurobase is a leading international software and services provider of (re)insurance solutions. Established in 1988 and with customers in over 25 countries, Eurobase has gained extensive knowledge of the global (re)insurance markets. With a personal approach, Eurobase ensures it delivers the support and flexibility its customers need and the service they expect. With long standing customer relationships, Eurobase has a committed approach to doing business and to product investment, delivering ongoing value above and beyond initial engagements.