NEWARK, Calif.-- Risk Management Solutions (RMS), the world's leading provider of products and services for the management of catastrophe risk, today announced that it has released a new data formatting tool called the RMS Data Wizard. The tool is designed to help clean up and convert data about insured locations into a common format for use by insurance buyers, agents, brokers, insurers, and reinsurers.
The Data Wizard automates the process of preparing account information according to the ACORD Open Market Standard, which was published in 2003 following a collaborative exercise among ACORD's global members. The standard provides a single format for the reporting of location exposure information throughout the worldwide insurance and reinsurance information chain.
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