Industry Award Celebrates Top Insurance Innovations
NEW YORK, NY, October 3, 2023 – ACORD Transcriber, the intelligent document processing tool built by ACORD Solutions Group, the provider of solutions for standardized data exchange through the global (re)insurance industry, has been selected as an honoree for Technology Innovation in the 2023 PropertyCasualty360 Insurance Luminaries Awards.
The PropertyCasualty360 Insurance Luminaries Awards celebrate innovation in the property and casualty insurance industry. The recognition highlights pacesetters who push the industry forward in terms of digitalization, modernization, and client and customer experiences.
ACORD Transcriber automates the extraction, download, and population of data in structured and unstructured insurance industry forms and documents. With AI/ML-enabled intelligent document processing capabilities, ACORD Transcriber eliminates inefficient manual processes, resulting in improved turnaround times, reduced operating costs, and enhanced data consistency and accuracy.
“Empirical ACORD research makes clear that digitalization is critical for sustaining high performance for insurance stakeholders – and it is only becoming more necessary as the industry continues to evolve,” said Bill Pieroni, President & CEO, ACORD Solutions Group. “In response to this growing imperative among the ACORD member community and the broader industry, we sought to develop solutions that enhance connectivity among trading partners, increase operational efficiencies, and optimize core business functions across the value chain. We are proud to provide capabilities like ACORD Transcriber that deliver tangible results and advance the digitalization of our industry.”
The 2023 Luminaries honorees were selected by a panel of industry experts based on how well they stated and achieved goals with regard to the nomination category; how impactful their work has been; how dedicated the nominee has been to furthering modernization and humanization in the P&C insurance business; and how committed and dedicated the nominee has been to high ethical standards, service, and excellence. ACORD Solutions Group’s ADEPT (ACORD Data Exchange Platform and Translator) received a similar commendation from PropertyCasualty360 in 2021.
“Today’s top insurance organizations recognize the industry’s history and purpose while embodying contemporary processes and services,” says NU Property & Casualty Executive Editor Elana Ashanti Jefferson. “My colleagues and I are thrilled to be able to recognize pace-setting insurance organizations, programs, practices, teams, and individuals as part of the annual NU PropertyCasualty360 Luminaries recognition program.”