ACORD News

Why E&S Carriers Aren’t Winners Over the Long Term

ACORD’s recent study, “Intelligent Growth: Intent, Decisions, Outcomes,” reveals that E&S/specialty companies don’t fare well over the long term. Here, CEO Bill Pieroni suggests possible reasons in an interview with Wells Media’s Andrew Simpson. Q: You talked about the winners …

Confessions of a Diehard Insurance Data Fan: Part 2

After Bill Pieroni, the CEO of ACORD, delivered a presentation about ACORD’s latest study, “Intelligent Growth: Intent, Decisions, Outcomes,” he sat down with Wells Media’s Andrew Simpson to talk about winning carrier strategies. Pieroni, who discussed carrier growth and profit …

How ‘Intelligent’ Insurers Grow and Create Value: ACORD Study

Some insurance carriers grow but do not create value. Others shrink but still create value. Some fail at both. Then there are the “intelligent growers”—those that succeed at both, not only growing but also creating value. Intelligent growers— that’s the …

Confessions of a Diehard Fan of Insurance Data: Part 1

If Bill Pieroni were a Major League Baseball executive, he would be one of those sabermetric types like Oakland’s Billy Beane, heralded by the book “Moneyball.” His team’s manager would have spreadsheets on an iPad, and his team would use …

Electronic Marketplace AkinovA Donates Data Assets to ACORD for Industry Standards

AkinovA, the independent electronic marketplace for the transfer and trading of re/insurance risk, has donated key insurance linked security (ILS) data assets to ACORD, the global standards-setting body for the re/insurance industry,. The donated assets include data definitions and collection …

ACORD InsurTech Innovation Challenge’s European Winner Is Riskbook

ACORD, the global standards body for the insurance industry, has announced that Riskbook was the winner of the London semi-final round of the ACORD InsurTech Innovation Challenge (AIIC), with RITA and Optimiz.Claims named as runners up. Riskbook is focusing on …

Industry Blockchain Initiative B3i Gets Ready to Go Live for January Renewals

The industry’s Blockchain Insurance Industry Initiative (B3i) announced a year ago it had developed a reinsurance blockchain prototype for a property excess-of-loss (XOL) contract and asked the industry to help test it. The initial results are in. Months of testing …

ACORD Launches Data Toolkit for London Market Reinsurance, Big Commercial Risks

ACORD, the global standards body for the insurance industry, has launched an Adoption Toolkit to support the application of data standards for global reinsurance and large commercial risks in the London market. “The benefits of implementing data standards are being …

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 …