LONDON, UK, March 16th, 2021 - London Market Delegated Authority IT Solution Provider distriBind announced today that it is joining the Licensed Integrator Partner program of ACORD Solutions Group (ASG). As a Licensed Integrator Partner, distriBind will leverage the network effects of the ACORD solution provider community and the next-generation digital solutions enabled by ACORD Standards. The partnership will principally focus on harnessing the ACORD Conductor service to facilitate inbound and outbound London Market messaging for distriBind’s broking and MGA clients utilising its Delegated Authority system.
Dave Connors, Chief Executive Officer of distriBind, said, “Joining ASG’s LIP Program will supercharge our plans to revolutionise Data Exchange. We are excited about the possibilities we can make real for our clients, extending distriBind’s powerful data validation and analysis platform by leveraging components such as ACORD Conductor to send data to the London Market and elsewhere.”
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 Conductor operationalises these Standards to create a comprehensive global messaging and data service which aligns individual messages with industry processes, while centralizing and simplifying workflow. By replacing current manual processes of message exchange for distriBind’s clients, ACORD Conductor will drive significant cost savings, as well as improved data speed, accuracy, and consistency.
“We are delighted to welcome distriBind into the Licensed Integrator Partner program,” Chris Newman, ACORD’s Managing Director, Global, commented. “distriBind demonstrates how technological advancements in artificial intelligence can enrich, automate, and drive out significant cost from the delegated authority insurance market. It is equally encouraging to see how quickly and seamlessly a new InsurTech can plug into ACORD Conductor’s messaging integration and orchestration APIs. This plug-in will enable distriBind to offer its insurance clients a fully integrated and interoperable message exchange capability.”
distriBind was a 2020 runner-up in the ACORD InsurTech Innovation Challenge London, the competitive event that seeks out, promotes, and nurtures sustainable technological innovation within the insurance industry.
About distriBind
distriBind is an Automated Data Exchange and Validation platform eliminating bordereaux from Delegated Authority. Serving MGAs, Brokers and Insurers, distriBind offers real-time ingestion and validation of data via API while also processing traditional bordereaux without the need for onerous management of bordereaux maps or manual spreadsheet manipulation. Awarded a grant by Innovate UK in 2019 for its AI-powered Capacity Utilisation Predictor tool and Runner-up in the 2020 ACORD InsurTech Innovation Challenge London, distriBind combine deep knowledge of the DA sector with leading-edge technological solutions. Learn more at distribind.io.