Northdoor plc joins the Association for Cooperative Operations Research and Development (ACORD)

22nd February 2023NewsJames Cherry

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Northdoor joins ACORD, the global insurance standards-setting body, to support the Lloyd’s of London BluePrint Two project.

ACORD, the global standards-setting body for insurance sector data, is set to play a significant role in the Lloyd’s of London Blueprint Two project

Accord -Northdoor supports Lloyd's of London Blueprint Two

Northdoor plc has joined ACORD, the global standards-setting body for the insurance and related financial services industries. ACORD facilitates fast, accurate data exchange and efficient workflows through the development of electronic standards, standardised forms and tools to support their use.

ACORD participants include thousands of insurance and reinsurance companies, agents and brokers, software providers, financial services organisations and industry associations. Founded in 1970, ACORD has been identifying ways to help members make improvements across the insurance value chain.

The Lloyd’s of London Blueprint Two strategy, the project designed to deliver change to the Lloyd’s market through digitisation, will be adhering to ACORD standards. As a leading technology partner in the Lloyd’s market, it makes sense that Northdoor joins, as James Cherry, CTO Northdoor plc, explains.

“The adoption of ACORD standards through the Blueprint Two strategy will have a significant impact on the Lloyd’s of London market by improving data exchange, standardisation and automation. It will help insurers to be more efficient and accurate in their operations, which in turn, can lead to cost savings and improved customer satisfaction levels.

“Becoming members will also help to confirm our position in the market whilst ensuring that new customers know that we are always adhering the standards set by ACORD. We are delighted to become ACORD members and are looking forward to working with our customers over the coming months to implement Blueprint Two.”

“More and more, forward-thinking solution providers are seeing the profound benefits enabled by standardised data exchange,” said Chris Newman, EVP & Global Managing Director, ACORD. “Enterprise-wide adoption of data standards will be a key capability for leveraging the increased efficiency and effectiveness that Blueprint Two will enable in the market. Current and future solutions offerings alike will be greatly enhanced by utilizing the industry-wide ACORD Data Standards.”

Read more about Northdoor’s Alternate solution here.

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