Increasing expectations and demands from more informed customers are forcing insurers to re-align their business processes to deliver true end-to-end experiences across the ecosystem.

Start by creating a network model that facilitates the exchange and sharing of data between carriers and other key industry stakeholders – including brokers/agents, and third-parties such as reinsurers, claim service providers, and government entities. But this cannot be accomplished without establishing best practices around business integration and interoperability throughout. Without standardized business processes and a common vocabulary, connectivity to value-chain partners will remain a costly challenge.

With the ACORD Information Model and Progress’ DataXtend Semantic Integrator insurers can:

• Improve your customers’ experience through the ACORD Information Model common view of data
• Price premiums more accurately and profitably as a result of leveraging more accurate data
• Obtain more accurate coverage valuations through improved risk portfolio analysis
• Get to market faster through a consistent and common definition of data and information
• Enhance data governance and impact analysis of data changes on core insurance processes
• Increase profitability through reduced data integration time and costs
  
  

SPECIAL OFFER! Register and also get the white paper ACORD Framework and discover new ways that insurers can collaborate with agents/brokers and other members of the insurance ecosystem to deliver a better customer experience.