INSTEC Joins ACORD
NU Online News Service, July 30, 3:00 p.m. EST?Commercial property-casualty insurance software provider INSTEC yesterday announced that it has joined the Association of Cooperative Operations, Research and Development, an insurance industry standards-setting organization.
Pat Walsh, vice president of Naperville, Ill.-based INSTEC, a policy rating and processing solutions organization for the commercial p-c industry, said that ACORD has taken the lead in establishing standards within the insurance industry, "enabling ease of integration and communication between differing functional solutions."
Using XML, he said, "we see our ACORD relationship as invaluable in making our interface efforts as easy and seamless as possible."
Ron Dudley, vice president, standards of Pearl River, N.Y.-based ACORD, commented, "We appreciate INSTEC's membership in ACORD and applaud their commitment to utilize XML as their interoperability standard. "
He said that the ongoing necessity for claims, billing and policy administration systems to effectively communicate with the INSTEC rating engine is "the perfect example of the need for standards in our industry."
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