ACORD and XBRL International (XII) reported today that they have agreed to explore areas in which their XML-based standards may present interoperability opportunities. XBRL has become an Association Member of ACORD, and ACORD is a Direct Association Member of XII.
ACORD kicked off a collaborative research project with members of the XII community recently and will publish a proof of concept paper that describes areas where ACORD data standards may map to XBRL insurance solvency and other business information taxonomies. XII Direct Member Business Reporting Advisory Group (BR-AG) from Poznan, Poland, a premier XBRL business reporting consulting firm whose clients include banks and regulatory authorities worldwide, is working on the technical paper with ACORD.
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