An information model that precisely defines insurance-industry concepts and the relationships among them—a key element in data standardization for insurers—is at hand.
Beta software versions of the model have been made available in recent months by ACORD, which is expecting to release a final version of the model soon—perhaps before the ACORD LOMA Insurance Systems Forum concludes.
In addition to collaborating with ACORD on finalizing the model over the past year, IBM has been demonstrating to insurers the business solutions the company has developed based on its own work, beyond its partnership with ACORD. The IBM Insurance Industry Framework addresses core insurance, distribution, risk management, and customer care and insight.
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