ACORD receives IBM contributions

ACORD recently received a significant contribution from IBM - the Business Object Model from its Insurance Application Architecture.

The recent donation from IBM consists of the IAA business object/data model and the IAA product specification diagram notation. Both were developed by IBM in collaboration with 100 leading insurance companies around the world, and the IAA model has been licensed by more than 200 insurers worldwide.

ACORD accepts intellectual property contributions from member companies on behalf of the industry to further enhance and expand its standards.

The information model plays a central role in the ACORD framework, a series of 5 interrelated models that can be used to develop consistent standards regardless of type, geography or line of business. The facets are: a business dictionary, a capability model with process maps, a component model with service maps and a data model.