Since its founding in 1970, the Association for Cooperative Research and Development (ACORD), Pearl River, N.Y., has brought members of the insurance industry together to collaborate in the development of standards to improve data exchange and communication within and across organizations.
Realizing that it’s the insurance community that will ultimately determine and utilize specific line-of-business technology standards, ACORD knows its job and does it well, utilizing insurers, distributors and service providers to help facilitate standards development and implementation. But, according to a new report issued today by Aite Group, a Boston-based research group, ACORD still faces challenges, specifically in the life and health (LAH) insurance sector.
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