On May 13, Prima Solutions decided to contribute its insurance information model to ACORD (www.acord.org), a non-profit association whose mission is to facilitate the development and use of standards for the insurance industry. Affiliated with ACORD are hundreds of insurance and reinsurance companies and thousands of agents and brokers, related financial services organizations, software providers, and industry organizations worldwide.

ACORD accepts intellectual property contributions from member companies on behalf of the industry and integrates them through the standards development process to further enhance and expand ACORD standards. Prima's donation inscribes itself in this practice.

Prima Solutions' insurance model is part of Prima's Insurance Business Component Suite, Prima IBCS™, which also includes a service and a process model, productivity tools and a template driven code generation toolset. The donation of Prima Solutions' insurance model will support ACORD's own Information Model effort by providing a significant jump-start.

The ACORD Information Model is one of the main parts of the ACORD Standards Framework. It represents standards data from all aspects of the insurance industry, including: Property, Casualty, Surety, Life, Annuities, Health, Reinsurance and Large Commercial. ACORD's Information Model standards are ruled by their Information Model Advisory Committee which Prima Solutions co-chairs. All in all, Prima's contribution will help ACORD develop its framework faster and create more consistent standards that will benefit the entire insurance industry.

The insurance industry needs to modernize their IT environment with solid and adaptable bases. The standard Information Model issued from the collaboration of Prima Solutions and ACORD will respond to these needs. As such, Prima's donation places Prima IBCS™ at the foundation of the insurance world exchange standards.



In the following video, John Kellington, senior vice president of ACORD and Hughes Delannoy, Prima Solutions' co-founder and CEO, discuss Prima's contribution to ACORD.