ACORD has released a major update to the ACORD Reference Architecture, consisting of Version 2.7 of the Business Glossary, Information Model, and Data Model. These releases are the result of extensive review and feedback, which helped validate the enhancements. Full details of the updates can be found packaged with each release.
The Business Glossary 2.7 release primarily focuses on three major improvements:
- Metadata enhancements for the HTML, CSV, and XML formats (all three formats now show metadata consistently, without any discrepancies)
- Incorporating elements related to new Employee Benefits Standards
- Evolving Glossary by adding 400 new terms
Other improvements include the resolution of data lineage and GUID issues, accurate identification of super-classes and sub-classes against each element, allowing for the addition of HTML reference links as needed, and accurate identification and representation of synonyms.
The key focus of the Information Model 2.7 and Data Model 2.7 releases is the enhancement of structural stability throughout the models. The three main subject areas of the review and improvement process are:
- Activity Package
- Document & Communication Package
- Marketing Package
One primary method used to attain greater structural stability was the elimination of inconsistencies, redundancies, and missing associations or entities.
Downloads of the new releases, as well as more information on the ACORD Reference Architecture, are available at http://www.acord.org/RA
In April, the Ruschlikon Steering Committee met in Milan. In addition to global implementation topics, the group is focusing on engaging the local Italian Reinsurance and Large Commercial Insurance markets in implementation. This continues work with the French market to similarly encourage adoption by local markets, which has been ongoing since Spring of 2017. In addition to this, it was announced that Simon Squires of XL Catlin will succeed Regis Delayat of SCOR as the Chairman of the industry group Ruschlikon. The ACORD community thanks Mr. Delayat for his contributions and years of service leading this group.
The Ruschlikon Marketing Group released their latest newsletter in May, highlighting the 10 year anniversary of the group. Click here to read more about their latest accomplishments.
L&A had their Candidate Release in June with the Final 2.40.00 Standard Specifications published on June 29.
P&C saw a lot of activity this spring with the Joint Producer Licensing & Appointments, P&C, and Workers' Compensation Reporting voting and appeals process underway and wrapping up in July.