In 2001, ACORD opened its London office with a clear purpose: to continue supporting industry collaboration across the world’s most complex and globally connected insurance market through common data standards. Twenty-five years later, ACORD’s work in the London Market stands as a testament to what mutually beneficial cooperation and consensus-driven standards can achieve.
Since establishing a permanent presence at the heart of the London Market, ACORD has worked closely with market associations, insurers, reinsurers, brokers, and technology providers to help enable digital data exchange, global interoperability, and more efficient insurance operations in London and across the wider global (re)insurance ecosystem.
To mark this 25‑year milestone, ACORD is welcoming London Risk Week attendees to the ACORD Lounge for complimentary refreshments, networking opportunities, and special programming. Join us for a series of special sessions with industry organizations and partners operating across the London Market (see below for more details).
In anticipation of this celebration, we’re taking a look back at some of our favorite moments from the last 25 years.
Milestones That Shaped the London Market
Over the past 25 years, the ACORD London Market member community has witnessed several transformative milestones, including:
- 2001: ACORD (founded in the US in 1970) merged with European standards body WISe, opened its London office, and launched the ACORD GRLC (Global Reinsurance & Large Commercial) Standards. ACORD GRLC which has since become the agreed method for submitting and exchanging data within the London market, enabling high-volume digital processing at scale.
- 2006: The ACORD DRI (Document Repository Interface) Standard became the vehicle for the launch of ECF (Electronic Claim Files), as part of a program to modernise claims handling across the London Market. This was followed by DRI-based Accounting & Settlement in 2008, and ECF Writeback in 2015. Today millions of these transactions are processed every year, eliminating redundant processing, facilitating automation, and improving data quality.
- 2011: The Ruschlikon UK Implementation Group (RUKIG) was established to support UK implementation of the ACORD Standards and Ruschlikon best practices, contributing to one of the most successful process transformation initiatives in the global insurance market.
- 2016: ACORD Solutions Group was launched in order to provide the tools, connectivity, and infrastructure that allow organisations to exchange data in real time, embed ACORD Standards directly into workflows, and move from manual rekeying to intelligent automation. ASG’s ADEPT (ACORD Data Exchange Platform & Translator) has enabled stakeholders throughout the London Market to translate standards adoption into tangible operational outcomes.
- 2020: the ACORD London Advisory Board was formed to align market initiatives and ensure the impact and relevance of ACORD to its members’ needs. This was followed in 2024 by the formation of the ACORD Global Advisory Council, to drive interoperability between the London Market and emerging insurance hubs worldwide.
- 2022: The London Market Group (LMG) Data Council unanimously agreed that ACORD Standards would be the market’s chosen data methodology. The CDR (Core Data Record) — providing the critical data requirements for London Market transactions — was built to align with the ACORD GRLC Standards.
- 2025: ACORD launched “GRLC Generation 2.0,” representing a digital-first approach to data messaging, enabling straight-through, end-to-end processing across the policy lifecycle and the (re)insurance ecosystem. ACORD GRLC Gen 2 Standards allow insurers, brokers, and service providers to leverage a unified set of digital data standards from placing to binding to claims to settlement.
- 2025: An open letter to the industry was published, calling on all insurers and brokers to take full advantage of the coming digital market by aligning their data to the ACORD GRLC Standard. The letter was signed by the CEOs of Lloyd’s, Velonetic, the LMG, the IUA, LIIBA, the LMA, PPL, and Verisk.
Together, these initiatives have helped move the market away from manual rekeying and fragmented data toward more efficient, interoperable, and digitally enabled workflows.
Collaboration at the Core
From the beginning, ACORD’s approach in London has been grounded in partnership. By providing a forum for collaboration, ACORD has enabled insurers, brokers, associations, and technology providers to work together on standards developed with real-world industry needs in mind.
This collaborative philosophy has ensured that London Market data remains interoperable with global systems, supporting firms as they operate across borders and lines of business.
“ACORD came to the London market 25 years ago with a clear message: common data standards, developed collaboratively, make the entire industry work better. Our approach was grounded in collaboration and industry consensus as we understood that standards must be built with the market, not for it,” said Tanya Krochta, EVP, COO & acting CEO of ACORD.
Leading London Risk Week Discussions
During London Risk Week on 13-14 May, the ACORD Lounge, located at The Moniker on 25 Fenchurch Avenue, will serve as a gathering place for collaboration, conversation, and thought leadership.
All London Risk Week attendees are welcome to stop by for complimentary refreshments, Wi-Fi, and sessions on key London Market topics, including:
- The Next‑Generation Digital Operating Model – A forward‑looking discussion led by ACORD Solutions Group, featuring insights from AXA XL and Hamilton on the current and future state of digital operations in the London Market, grounded in the application of ACORD Standards.
- Governing by Design: Building Data Governance into Our DNA – A practical session led by AdA Underwriters, offering a thought-provoking perspective on embedding strong data governance, compliance, and quality into operating models.
- AI Governance and Responsible Adoption – Hosted by Greenkite Associates, this session explores why transparency, accountability, data quality, and human oversight are essential to scaling AI responsibly while managing regulatory, ethical, and operational risk.
- Coalition of the Willing: Applying Data Standards to Unlock Market Value – Led by the Lloyd’s Market Association, this panel brings together market participants actively adopting ACORD Standards and the Core Data Record to drive practical improvements across placing, accounting, and claims processes.
Looking Ahead
While much has been accomplished, the work is far from finished. As the pace of digitalisation accelerates and the industry confronts new challenges, from data stewardship and AI governance to evolving placement and claims models, ACORD remains committed to working alongside the London Market to build a resilient, digital data-first foundation.
Twenty-five years in, ACORD’s presence in London continues to play a vital role in shaping the future of global (re)insurance data exchange. We are proud of all we’ve achieved over this time, working closely with our London Market members and partners, and bringing together stakeholders to collaborate on shared challenges. Join us for the next 25 years of progress!