Got Standards? Sample RFP Language for ACORD XML

By Elizabeth Lisle posted 04-23-2009 10:34 PM


In ten years of advocating for data standards, I've learned that our industry doesn't take lightly the investment and sustained effort necessary to implement ACORD XML for Claims and Exposures on large commercial accounts. After all, there are legacy systems to consider, and who wants to invest in technology in this economic climate?  But challenging times are pushing all of us to find more efficient ways of doing business, and risk managers must lead the way.  

In the last year, several industry leaders have been motivated, no, moved, by the request of a major client to support ACORD XML to exchange claims and incident data.  Two projects are already up and running, with at least two more currently in development (as of RIMS 2009 conference week).  Another risk manager shared with me that they're contemplating moving their insurance program to a new carrier, to escape the limitations and inertia of legacy systems that would prevent them submitting next year's renewal data electronically via ACORD XML.  Market pressure can be a powerful force for good...or at least efficiency.

To help RIMS members communicate their expectations to potential trading partners, whether it be a TPA, RMIS vendor, carrier, or broker, the Technology Advisory Council has developed Sample RFP Language for ACORD Data Standards.  It is available in the RIMS Resource Library.  By including Data Standards requirements in your next RFP, you can help move our industry towards claim reports and policy renewals that are timely, accurate, and far more efficient than the status quo.




05-15-2009 01:19 PM

this is a great testimonial and result for the efforts that have gone on the last few years (unnoticed by most, no doubt!) by your committee to try and achieve a standard that will allow us to better "own" our data. I'm sure most people have no idea how these efforts impact them in real life, but I would love to hear other experiences of including data standards as part of the renewal negotiation. Only risk managers as buyers have the power to demand that the companies step up and create a uniform template for this data. We all need constant reminders to make this happen! Thanks for your good work.

04-27-2009 12:18 AM

Thank you for sharing Elizabeth. I've been watching this for a long time and it's encouraging to finally see the market starting to drive the direction. The "legacy systems" is just an excuse as there are many ways to overcome these type of obstacles.