ACORD Solutions Group has announced that DXC Technology will expand its usage of ADEPT (ACORD Data Exchange Platform and Translator) to enable users of its SICS platform to transact with global (re)brokers, cedents, and reinsurers.
ADEPT is a platform which facilitates real-time data exchange, translation, and transformation, connecting stakeholders across the global insurance industry.
DXC will integrate ADEPT for Global Reinsurance and Large Commercial (GRLC) to support its SICS solution, a globally standardised end-to-end solution for assumed and ceded, life and P&C reinsurance administration.
DXC states that integration with ADEPT will enable SICS users to exchange ACORD GRLC accounting and claims messages with other eMessage-enabled trading partners around the world.
Through ADEPT’s integrated ACORD Transcriber, reinsurers will be able to receive ACORD GRLC messages from non-eMessaged-enabled trading partners.
ADEPT also provides SICS users with the ability to connect to Lloyd’s Blueprint Two services and solutions, helping them exchange ACORD GRLC messages with global partners using the new services built by Lloyd’s.
Bjørnar Evenshaug, DXC’s Global Offering Manager, Reinsurance, commented, “The complementary capabilities of SICS and ADEPT create a truly powerful tool for reinsurers across the global market.
“The flow of real-time digital data in and out of their systems eliminates manual rekeying and dealing with disparate data sources and formats, ultimately improving data speed, accuracy, and consistency.”
Chris Newman, ACORD’s Managing Director – Global, added, “As a leading provider of core insurance solutions, DXC Technology is a key partner as the industry works together to modernise.
“Our collaboration with DXC will help us continue to reach (re)insurers with next-generation digital solutions like ADEPT, enabling faster, more efficient digital data exchange across the London Market and global insurance industry.”
DXC and ACORD have partnered on various digitalisation efforts for the London Market and wider industry.
In addition to collaborations on recent Lloyd’s Blueprint Two modernisation initiatives, DXC is a Licensed Integrator Partner of ACORD and has previously implemented ADEPT to support its solutions for brokers and insurers.