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Providing some background, ACORD noted that GRLC Standards have been widely used by the global re\/insurance and specialty markets for years to enable efficient and effective flow of insurance data.<\/p>\nIndustry standards body ACORD has launched GRLC Generation 2.0, updating its Global Reinsurance & Large Commercial Standards to support digitalisation throughout the global re\/insurance industry.<\/p>\n
Providing some background, ACORD noted that GRLC Standards have been widely used by the global re\/insurance and specialty markets for years to enable efficient and effective flow of insurance data.<\/p>\n
Now, GRLC Generation 2.0 will reportedly allow insurers, brokers, and service providers to leverage a unified set of digital data standards from placement to binding to claims to settlement.<\/p>\n
\u201cThis will not only increase efficiency, interoperability, and data quality, but also support the adoption and implementation of emerging digital-first systems both internally and across trading partners,\u201d ACORD explained.<\/p>\n
ACORD also suggested that GRLC Generation 2.0 Standards feature enhanced navigation and accessibility, with \u201crobust application and architecture\u201d for placing, claims, and accounting digital messaging.<\/p>\n
The first ACORD GRLC Generation 2.0 assets include a Unified Placing Standard and updated ePlacing Implementation Guide, merging Blueprint Two and peer-to-peer workstreams into a single standardised digital placing approach for insurers, reinsurers, brokers, and platforms.<\/p>\n Additionally, a whitepaper on Claims Digital Messaging introduces new Claims Handling & Orchestration Standards to complement existing Claim Movement Standards, enabling seamless digital claims processing.<\/p>\n Chris Newman, President International, ACORD, commented, \u201cAs the global industry faces an unprecedented rate of change, our members have expressed an even greater demand for digitalization and interoperability.<\/p>\n \u201cWe are witnessing some incredible success stories of members digitizing their enterprises and trading partnerships, and enjoying material efficiency gains over their non-digital peers.<\/p>\n \u201cThere is a golden opportunity to extend the benefits of standardized data exchange across all stakeholders and throughout the insurance lifecycle.\u201d<\/p>\n Newman continued, \u201cThis new era of the GRLC Standards will transform how organizations communicate and transact business within global (re)insurance markets.<\/p>\n \u201cWe are excited to share the GRLC Generation 2.0 vision of enabling truly digital, end-to-end data exchange across our community.\u201d<\/p>\n The post ACORD launches GRLC Generation 2.0 to support industry digitalisation<\/a> appeared first on ReinsuranceNe.ws<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Industry standards body ACORD has launched GRLC Generation 2.0, updating its Global Reinsurance & Large Commercial Standards to support digitalisation throughout the global re\/insurance industry. Providing some background, ACORD noted that GRLC Standards have been widely used by the global re\/insurance and specialty markets for years to enable efficient and effective flow of insurance data….<\/p>\n","protected":false},"author":1,"featured_media":503,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-995","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-reinsurance"],"_links":{"self":[{"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/posts\/995","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/comments?post=995"}],"version-history":[{"count":3,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/posts\/995\/revisions"}],"predecessor-version":[{"id":998,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/posts\/995\/revisions\/998"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/media\/503"}],"wp:attachment":[{"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/media?parent=995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/categories?post=995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/tags?post=995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Download](\"https:\/\/esportslegendary.com\/wp-content\/uploads\/2025\/04\/catastrophe-bond-ils-market-report-q1-2025-728x90-2.png\")
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