In true Best-of-Breed approach, INSTEC furthers commitment to industry standards through ACORD membership
Commercial P&C insurance software provider, INSTEC, today announced that they have joined the Association of Cooperative Operations, Research and Development (ACORD), the leading standards organization for the insurance industry.
According to Pat Walsh, INSTEC's Vice President, "We see joining ACORD as a logical step in INSTEC's commitment to a Best-of-Breed strategy for our clients. ACORD has taken the lead in establishing standards within the insurance industry, enabling ease of integration and communication between differing functional solutions. As we further our development effort using XML, we see our ACORD relationship as invaluable in making our interface efforts as easy and seamless as possible."
Ron Dudley, ACORD's Vice President of Standards, commented "We appreciate INSTEC's membership in ACORD and applaud their commitment to utilize XML as their interoperability standard. INSTEC has long been a leader in the commercial rating market and the ongoing necessity for claims, billing, and policy administration systems to effectively communicate with the INSTEC rating engine is the perfect example of the need for standards in our industry. We look forward to working with the INSTEC team on the continued implementation of ACORD standards."
INSTEC, headquartered in Naperville, Illinois, has been a leader in policy rating and processing solutions for the commercial property and casualty insurance industry since 1982.