Following the announcement early last month that IBM would donate technology assets to ACORD in an effort to encourage collaboration and drive innovation in the insurance industry, the standards organization announced today that member contributions, including those from IBM and Prima Solutions, have propelled the project forward.

"Over the past year, ACORD with previous contributions and member participation, created the ACORD Information Model in an effort to build an industry-owned model," says John Kellington, SVP of ACORD. "Both IBM's [Insurance Application Architecture] (IAA) model and ACORD's Information Model are excellent representations of the insurance industry information. However having one model, which is available for all industry participants, will provide a single focus for the industry participants. IBM's donation will bring 20 years of industry expertise in model development and will allow ACORD, Prima, IBM, and other industry members, the opportunity to consolidate the two models into a new foundation of innovation."

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