Aleksey Egorov: ACORD Insurance Standards Come to Russia

In the framework of the annual ACORD LOMA Forum held on May 6-8, 2013, in Las Vegas, USA, Aleksey Egorov, Managing Partner of the project «Insurance Market Technologies», together with Puneet Bharal, Head of the Implementation Services at ACORD, expressed the need to implement international insurance standards in Russia. This step will allow numerous Russian insurance companies to significantly reduce operational costs and improve the quality of business processes.

 

ACORD (Association for Cooperative Operations Research and Development ) is a global nonprofit organization working for the insurance industry. ACORD contributes to the development of information standards and standards of information forms for insurance through open consensus. ACORD works with its members and partner companies to ensure the implementation of these standards. The process was initiated in 1970 when templates of insurance documentation were standardized (statements, reports, etc.)

The project «Insurance Market Technologies» was launched in 2012. Its mission is to create a structure for the Russian insurance market promoting the idea of contributing to the growth of the market and make it more civilized as well as consolidating the interests of its leading players. One of the main activities of the organization will be focused on the issues of insurance business standardization..