ACORD Solutions Group has introduced the ADEPT Bermuda Regional Hub, expanding its digital data exchange capabilities to the Bermuda re/insurance market.
As part of the launch, the company said that it will provide one million free digital messaging transactions to each new Bermuda-based client in 2025.
ADEPT (ACORD Data Exchange Platform and Translator) facilitates the digital exchange of placing, accounting, and claims data across the global insurance ecosystem.
ACORD Solutions Group first launched ADEPT Regional Hubs in Western Europe in partnership with the Ruschlikon initiative, which includes some of the largest reinsurance carriers and brokers.
The Bermuda hub marks the first expansion outside Europe, with future plans for similar hubs in Singapore, Dubai, and North America. The announcement of the ADEPT Bermuda Regional Hub follows the 2025 Bermuda Risk Summit.
ADEPT enables digital messaging across the reinsurance and specialty market, reducing time, cost, and manual processing. The platform operates in compliance with ACORD’s Global Reinsurance & Large Commercial (GRLC) Standards, which are widely used in the industry.
Chris Newman, president of international operations at ACORD Solutions Group, cited industry reports indicating that organizations using the GRLC Standards have seen a 70% reduction in unallocated cash, an 80% improvement in data quality, and a 60% decrease in manual effort required for claims transactions.
Nicole Kellenberger, co-chair of the Ruschlikon eAccounting & Claims Steering Committee, said that the Regional Hub model has been successful in Italy and Spain, helping firms shift from email-based transactions to digital workflows with lower-than-expected adoption costs.
In November, the group also launched data exchange capability in its ADEPT platform. ADEPT Placing offers re/insurers a one-to-many system for placing event data, from quotation through signed line advice information, while standardizing data format across all broker placing portals.
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