Across all sectors of financial services, data standards are in progress, but will insurance see a checkered flag at the finish line?

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Fifteen years ago, while insurers were pondering whether to use their own paper applications or convert to ACORD forms, banking customers could approach an ATM and perform electronic transactions with virtually any bank. In recent years, the investment industry transformed itself by using standards to create fluid company-brokerage connections while the insurance industry was debating the merits of SEMCI. Youre probably tired of being told the insurance industry lags behind other financial sectors when it comes to developing and using industry data standards.

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