Acord releases standards for electronic placing

Acord has announced the expansion of its Global Reinsurance & Large Commercial data standards, to include new standards for electronic placing.

“The Acord GRLC Standards have supported the placing process for some time, but this represents a new era of data exchange,” said Chris Newman, managing director, global, Acord. “By providing the tools to adopt standardised ePlacing, these new standards will enable greater levels of digitisation and modernisation for the re/insurance community.”

The ePlacing Standards were developed in close collaboration with the Ruschlikon reinsurance community, as part of the shared goal of enabling smart end-to-end processing across the re/insurance value chain. Current members of the Ruschlikon ePlacing Steering Committee include Aon, Guy Carpenter, Hannover Re, Lloyd’s, Munich Re, PartnerRe, SCOR, Swiss Re and Willis Towers Watson.

    Share Story:

Recent Stories


Cyber physical risks
Property damage as a consequence of cyber attack is often excluded from standard property policies, but as the industrial internet of things expands, so too do the risks. This podcast examines the evolving threat landscape. Published October 2021

Financial institutions were early adopters of cyber security and insurance. Are they still on top of the game?
Managing huge amounts of sensitive data online makes financial institutions a prime target for hackers. As such, the sector was an early cohort for insurers in creating cyber cover. Since then, the market has evolved almost beyond recognition. It continues to challenge itself to this day, complying with rigorous regulatory demands and implementing avant-garde enhancements to keep abreast of the ever-changing risks. Published June 2021

Advertisement