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ACORD & Electronic Signatures

ACORD & Electronic Signatures. Marcia Berner , ACE Director, Implementation Services ACORD Corporation Date. Who are we?. Association for Cooperative Operations Research and Development. .org. Insurance Data Standards, Forms , and Strategic Initiatives . Standards Development

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ACORD & Electronic Signatures

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  1. ACORD & Electronic Signatures Marcia Berner, ACE Director, Implementation Services ACORD Corporation Date

  2. Who are we? • Association for • Cooperative • Operations • Research and • Development .org

  3. Insurance Data Standards,Forms, and Strategic Initiatives • Standards Development • Relationships & Implementation Services .org

  4. SDO: Program and Locale Program Locale US & Canada Bermuda London Market South Africa Australia China India Russia • Property & Casualty • Life and Annuity • Global Reinsurance and Large Commercial Lines

  5. Current and Developing Standards • P&C • XML V1.x • AML • eForms • AL3 (legacy) • L&A • ACORD XML • ACORD AML • DTCC • GRLC • DRI • Reinsurance standards

  6. Facets of theACORD Framework Glossary of terms used by all other facets of the Framework The relationships among insurance concepts Logical persistence model based on the Information Model What insurance companies do Common interfaces and services definitions for insurance systems

  7. SDO: Our Members • Insurance Carriers • Agents/Brokers • Distributers • Solution Providers • Industry Associations* .org

  8. SDO: Member Driven Standards • Agile approach • Standards WG’s • Specific WG’s • Program WG .org

  9. 2020: Relationship & Implementation Services • Relationship Management • Implementation Services • Strategic Future Initiatives (R&D) .org

  10. 2020: Strategic and Future Initiatives • R&D • Implementation Communities • Metrics .org

  11. Relationship of Activities

  12. Electronic Signature Community

  13. Number Independent Agents*

  14. Consumer Age Demographics

  15. 2012 Top Technology Challenges Protecting Security of confidential info Ensuring confidentiality of data transmitted Marketing Effectively on the Internet New in 2012 – providing clients with mobile apps

  16. Where is the industry? • Property & Casualty • Low adoption • Understand there are benefits • Small number agents are using • Very small number carriers will accept • Life & Annuity • NAVA/IRI standard for annuities • LBTC documenting requirements

  17. AUGIE Community

  18. Electronic Signature Community

  19. Strategic Analysis Document

  20. There is No Magic Bullet • Grow Community • Advocacy • AUGIE 2013 Named Priority • Webinars/Education • Regional Summits • Standards???? • Regulators???? • Associations????

  21. Get Involved

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