ACORD News

First Blockchain for Marine Insurance Now Running

A blockchain that is said to be the first for $30 billion marine insurance is now in commercial use, according to a coalition of technology, insurance, marine and consulting businesses. EY, Guardtime, A.P. Møller-Maersk, Microsoft and insurance partners Willis Towers …

Marsh Develops Commercial Blockchain Solution for Proof of Insurance

Marsh announced it is collaborating with IBM, ACORD and its client, ISN, to develop a commercial blockchain solution for proof of insurance. By using blockchain, or distributed ledger technology, Marsh said the certificate of insurance process will be transformed “from …

ACORD Names Maine’s The MEMIC Group Top Workers’ Comp Company in U.S.

The MEMIC Group, a Portland, Maine-headquartered workers’ compensation carrier, has been ranked the top workers’ compensation company in the U.S. by the Association for Cooperative Operations Research and Development (ACORD), the global standards-setting body for the insurance industry. In a …

EY, Maersk and Microsoft Create Blockchain-Based Marine Insurance Platform

Consultancy EY, data security firm Guardtime, Microsoft and ship operator Maersk have joined to build a blockchain-based marine insurance platform that will be the first real-world use of the nascent technology in the shipping industry. EY and Guardtime said the …

Beazley Joins EbixExchange Accounting Platform

Ebix Europe, the electronic messaging communications specialists for the global re/insurance market, announced that insurer Beazley is the latest carrier to join its EbixExchange accounting platform. Using ACORD standards, the platform adds transparency and accelerates the accounting and settlement process, …

Ruschlikon Expands Global Reach in 2015; Use of ACORD Standards Rises 20%

Ruschlikon, the global community of insurers, brokers and reinsurers with a mission to optimize industry administrative costs and enhance client services, announced achieved several important milestones in 2015 — a year that saw an expansion of its global footprint. Ruschlikon* …

Willis Launches Electronic Platform for Faster Premiums, Claims Payments

Willis Group Holdings has launched Willis Accounting, a new global electronic accounting platform designed to speed up cash flow and settle claims more quickly with carriers and clients. Following a successful pilot, Willis Accounting replaces traditional paper and email delivery …

Former Microsoft Executive Hartnett Named ACORD Innovation Chief

The insurance industry’s standards organization, ACORD, announced that Bill Hartnett, former financial services and insurance head at Microsoft, has been named its head of innovation, charged with bringing new ways of thinking and doing business to the organization and the …

AAIS, ACORD Partner on Standards for Insurers

Two major organizations that supply standard forms, rating information and policies to the property/casualty insurance industry have agreed to work more closely together. The American Association of Insurance Services (AAIS), and ACORD (Association for Cooperative Operations Research and Development) have …

ACORD CEO Maciag to Retire in 2016

Gregory Maciag, president and CEO of ACORD, said he plans to retire in one year on January 15, 2016 after nearly 40 years with the international insurance data and forms standards-setting organization. The ACORD board of directors has accepted Maciag’s …