Integration will enable seamless connection to Lloyd’s Blueprint Two services
LONDON, UK, January 26, 2023 – ACORD Solutions Group announced today that Guidewire (NYSE: GWRE), a leading platform for P&C insurers to engage, innovate, and grow efficiently, is integrating ACORD Solutions Group’s ADEPT with its recently launched Guidewire for the London Market.
Guidewire is a Licensed Integrator Partner of ACORD Solutions Group, the provider of solutions for standardised data exchange throughout the global (re)insurance industry, as well as a long-standing member of ACORD, the global standards-setting body for the insurance industry.
Guidewire provides users with end-to-end capabilities from placement to settlement through core-embedded analytics and data, easy connections with third-party systems, and automation of manual processes. Guidewire for the London Market connects via RESTful API to ADEPT (ACORD Data Exchange Platform and Translator), which facilitates real-time data exchange, translation, and transformation to connect stakeholders across the global insurance industry.
ADEPT will allow Guidewire’s customers to seamlessly send and receive ACORD accounting (EBOT) and claims (ECOT) transactions with partners leveraging Lloyd’s Blueprint Two Fully Digital Services, as well as existing EBOT/ECOT-enabled organizations such as members of the global reinsurance Ruschlikon initiative.
“Integrating ADEPT into Guidewire’s London Market offering is the natural next step for us as we continue to make good on our commitment to support insurers operating in this marketplace,” said Jamie McDonnell, senior sales executive, London Market, Guidewire. “Guidewire customers leveraging this capability will unlock efficiency savings in data validation and process optimisation, while reducing manual handling and reducing errors. This puts Guidewire at the leading edge of enabling fully digital services across placement, settlement, and claims.”
In addition, Guidewire’s customers will be able to exchange structured placing data by leveraging ADEPT’s Placing API, built on the ACORD Global Reinsurance & Large Commercial (GRLC) Standard, eliminating time- and labour-intensive manual rekeying processes. The ADEPT Placing API will enable Guidewire’s customers to fully integrate with all major global placing platforms.
“The integration of ADEPT with Guidewire for the London Market will help Guidewire leverage the benefits of Lloyd’s Blueprint Two digital services, as well as enhance interoperability for its clients across the full (re)insurance placement lifecycle,” said Chris Newman, ACORD’s Managing Director – Global. “The London Market has been making great strides in collaboratively reducing complexities that have historically been barriers to entry. We are delighted that ADEPT can provide a gateway into this market for proven, powerful solutions such as Guidewire’s.”