News
Xchanging Ins-sure Services Joins ACORD
05 May 2002
London, UK - May 2002 - Xchanging Ins-sure Services, has joined ACORD, the global insurance standards body, to participate in defining e-commerce standards for the international insurance and reinsurance sector.
Xchanging Ins-sure Services already provides the London Market with an electronic data interchange hub. As a member, its aim will be to support ACORD's groundbreaking efforts to develop and deploy standards, using the computer language XML, within the global insurance and reinsurance industry.
Michael Taylor, Vice Chairman, Xchanging Ins-sure Services, stated, "We are pleased to be working with ACORD in its vital mission to drive standardisation into the processing of insurance transactions. The benefits that 'straight through processing' can bring to our industry are enormous, with the potential for huge gains in cost efficiency, quality and client service".
ACORD President and CEO Gregory Maciag, welcomed Xchanging Ins-sure Services to membership in the organisation, by saying, "The leadership Xchanging Ins-sure Services has shown in the London Market is to be commended. With their participation in the standards development, ACORD standards are assured to be more widely adopted throughout the Industry.