ACORD, the international standards-setting body for the insurance sector, has launched a London advisory board.
The new board will meet on a quarterly basis and has been established to align London market initiatives with global ACORD data standards, to increase adoption and leverage of ACORD assets, and to strengthen the impact and relevance of its members’ interests.
It is comprised of senior representatives from the major London Market associations and the broker and carrier community.
“With over 36,000 participating organisations throughout the global ecosystem, ACORD is in a key position to facilitate the strategic alignment of the London market with the rest of the world,” said Chris Newman, ACORD’s Managing Director, Global.
“This group will play a key role in advising where ACORD deploys future resources and what data-enabling services and assets we create as a not-for-profit, totally industry-owned body. This will ensure that modernisation efforts are maximised and not completed in isolation.”
ACORD President and Chief Executive Officer Bill Pieroni, added, “The industry increasingly understands that data standards are a key enabler of business growth, efficiency, and the freedom to focus on true sources of differentiated competitive advantage.
“As ACORD celebrates its 50th anniversary, we are committed more than ever to supporting improved integration between industry stakeholders. This clear and solid support and input from the key associations in the London Market will greatly assist ACORD in fulfilling this mission.”