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The London Market Group (LMG) and The Boston Consulting Group (BCG) have published the results of an extensive market research into commercial insurance and reinsurance.
One of the top retirement trends introduced is the qualified longevity annuity (QLAC).
The new Cyber and Privacy Liability changes will be available with the release of ACORD P&C XML 1.29 scheduled for late June 2015.
A life insurance company that tried to underwrite policies the old-fashioned way would be out of business very quickly.
Gartner estimates that 30 percent of companies will be using biometric identification on their employees by 2016.
This new asset provides implementers of the ACORD P&C Standards with documentation that will greatly reduce development time and associated costs, improve efficiency, drive a consistent industry-wide method for associating the standards, and keep the standards in sync.
The newly enhanced system, now called the “ACORD Test Harness,” will build upon all of the existing functionality used to test and certify ACORD messaging, but with updated capabilities designed to move the insurance industry into the future.
ACORD Standards are being used by companies doing business across geographies, across lines of business, and with more automation. Business practitioners want more straight-through processes, which creates a greater need for interoperability.
Relief organizations, insurance companies, and national governments are all investigating the potential of drones both during and after disasters.
Data growth ought to translate into business growth, but it's never that simple.
Find out what project management for insurance will look like over the next several years.
Two non-profit insurance organizations are teaming up to expand the reach of the standards they develop and maintain for insurers.