ACORD’s President International, Chris Newman, is quoted in a recent article in Insurance Insider discussing the trend of more brokers and carriers going digital. With cloud computing and API standards being mainstream, brokers and carriers can better tackle inefficiencies by moving to fully digital platforms.
The article explores how these digital systems interact with one another and the need for consistent transaction information and data orchestration. The success and interoperability of these trading platforms relies on having a common language, often provided by ACORD data standards. The road to digitalization can be a long one, but when done right it can remove inefficiencies and improve industry-wide communication.
Read the full Insurance Insider article here.