Pearl River, N.Y. & Bedford, Mass. — Insurance data standards association
The ACORD Standards Framework (including its information model) forms the foundation of an ACORD enterprise architecture. This will be used to generate future versions of ACORD standards from a common model across all lines of insurance. According to the companies, insurance carriers will benefit from the consistency and robustness of a broader and common set of ACORD deliverables.
ACORD will be able to quickly define and publish unambiguous maps between the new ACORD Information Model and its existing Property/Casualty/Surety, Life/Health/Annuities and Reinsurance/Large Commercial XML standards using the common-model-based approach of DataXtend SI while integrating complex metadata. Additionally, this will enable ACORD members to take advantage of their existing investment in ACORD standards while embracing the new standards framework.
"We selected Progress Software's solution because of its visual, metadata-driven approach to mapping complex models and schemas," says Frank Neugebauer, AVP of technology for ACORD. "DataXtend SI is well suited to support the highly complex mappings and schema generation we and our members require. Evolving our existing standards development process with the ACORD Standards Framework gives us the opportunity to improve the quality and comprehensiveness of our deliverables to our members, and DataXtend SI is an important part of that evolution."
Ken Rugg, VP and GM, DataXtend at Progress Software, says the initiative will provide significant improvements for anyone using ACORD standards. "We've seen the benefits of using a similar set of standards —the TM Forum's Information Framework—in the telecom industry, and we're looking forward to seeing these successes replicated in the insurance industry," he says.
Source: Progress Software Corp.
