"eMerge," a development plan to integrate multiple existing ACORD standards into a common standard across all lines of business globally, was announced this week at the ACORD Technology Conference 2001 in Orlando by Tana Sabatino, assistant vice president of standards, ACORD.Citing rapid e-business expansion and the business pressures of convergence, Sabatino said that implementation of standards had become an essential component of a continued business growth plan. "eMerge focuses on having the components in place for a single view," she said. "By adopting a common data exchange structure, data transfer is streamlined and simplified, both internally within an enterprise, and externally to a company's business partners."
Sabatino said that eMerge would provide "one standard to support all lines of business," working on a "technology-neutral model." The plan, she added, would consist of a single set of standards for insurance, and a single view for financial services, achieved in cooperation with other standards bureaus. "We will be cooperating, not competing; we will implement partnerships," she said, adding that eMerge would provide "a single way to do business, with standard processes and standard approaches."
ACORD will integrate its XML standards for property/casualty and life insurance, as well as the Joint Venture (JV) reinsurance/large commercial standards, as a cornerstone of the eMerge development plan, according to an official statement. The JV was established in 1992 and comprises the Reinsurance Association of America (RAA), Brokers and Reinsurance Markets Association (BRMA), IVANS and WISe, ACORD's London- and Brussels-based standards bureau counterpart. (In July, WISe will cease operations and WISe members will become ACORD members.)
Development is expected to begin following the ACORD Global Standards Strategy subcommittee's June meeting. Sabatino said ACORD would proceed on a "very aggressive timeframe" to complete a pilot by November 2002. During the transition to the single XML standard, ACORD will manage concurrent standards, according to Sabatino.
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio