ACORD Solutions Group has shared the latest developments to support further growth in the company through digital innovation. These include the launch of a data exchange capability in its ADEPT platform and the appointment of James Pring as director of business development.
Pring brings eight years of experience at Ebix Europe, where he pioneered insurance solutions PlacingHub and ExposureHub while maintaining an active presence in the Ruschlikon Marketing Group.
Aligning with this new appointment is the debut of ACORD Data Exchange Platform and Translator (ADEPT) Placing capability, a universal hub for exchanging and placing data.
ADEPT connects insurers and brokers globally to major platforms including PPL, Whitespace, PlacingHub, and market firm-owned platforms such as Aon's ABConnect and Guy Carpenter's GC Marketplace.
Now used by over 100 clients for the exchange of accounting and claims data, ADEPT facilitates the placement of data through a single interface. This simplifies the process by eliminating multiple integrations and cutting down on manual processing which benefits insurers dealing with over 1,000 daily email submissions.
“With brokers using collaborative market placing platforms to connect with the underwriting community, it is now possible to connect the systems and create a full straight-through processing model…and a real-time digital trading environment,” Ruschlikon eAccounting & Claims Steering Committee Co-Chair Simon Squires said.
ADEPT Placing offers insurers a one-to-many system for placing event data, from quotation through signed line advice information, while standardising data format across all broker placing portals. The platform complies with the ACORD Global Reinsurance & Large Commercial (GRLC) Contract, Risk & Pre-Accounting Standard.
Meanwhile, CEO Bill Pieroni is pleased to onboard Pring to the team, noting his experience in standardised data exchange which aligns with the company’s digital leap.
These developments further digital innovation in the company through optimised data exchange aligning with ACORD GRLC Data Standards.
ACORD will showcase ADEPT and its placing capabilities at the upcoming ACORD Solutions Group Horizons event, "A Placing Revolution," scheduled for November 26. For more information, visit here.
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