What do reinsurers, cedents, brokers and risk managers want from their technology solutions?

They want such things as full disclosure of risks, prompt policy issuance, accurate loss runs and swift claims progress and settlement. ACORD standards implementation can and is making this possible in the dynamic global reinsurance marketplace, from the London market to Europe and North America.

ACORD’s reinsurance members, representing 70% of the top 10 and 56% of the top 25 insurers (A.M. Best, 2003), are using ACORD Standards to provide seamless transfer of information between insurers (cedents), reinsurance brokers and reinsurers. They have been developed for all parts of the reinsurance business cycle, from placement through to accounting, claims and settlement.