ACORD Announces 2003 Awards Program

NU Online News Service, Jan. 29, 3:25 p.m. EST?The ACORD Awards, recognizing company achievements in implementing ACORD standards, will be given out at the ACORD Annual Conference May 18-20 in Orlando, Fla., the association has announced.

Lloyd Chumbley, director, standards, for Pearl River, N.Y.-based ACORD, said the awards will honor achievements in implementations that focus on bottom-line business value.

This year, for the first time, the awards program will recognize those companies implementing XML standards to achieve straight through processing, said ACORD.

In addition, a new achievement category, which includes a number of specific awards available only to insurers, reinsurers and brokers, will recognize an XML implementation for an individual company in each standards program.

These achievement awards include the Business Automation Improvement Implementation Award, the Business Value Award, Overall Implementation Growth Award, the Greatest Impact Awards, and the Trading Partner Implementation Growth Award, ACORD noted.

"Straight through processing using XML standards can help companies' top- and bottom-line results through cost savings, overall efficiencies and market expansion. ACORD recognizes these leaders who have committed to making it easier to do business for the industry as a whole," said Gregory A. Maciag, president and chief executive officer of ACORD.

Also new this year is the Outsourcer Award, which will be given to an organization that provides outsourcing services and utilizes ACORD standards for those services, said ACORD.

Returning this year are the ACORD EDI awards for both property-casualty and reinsurance. This includes the AL3 Upload and Download Awards, ACORD stated.

To qualify for most of these awards, companies must submit their transactions and be certified by ACORD as being compliant by April 1, 2003, the association said. The certification program will utilize the same general criteria across all lines of business ensuring each group's efforts are appropriately recognized.

To obtain detailed information about the awards, the certification application and requirement guidelines, and a complete list of eligible transactions, visit http://www.acord.org/conf2003/conf2003_awards.aspx.

Award applicants must be members of ACORD in good standing by the April 1 deadline in order to be eligible to receive an award, ACORD noted.

ACORD (Association for Cooperative Operations Research and Development) is a global, nonprofit insurance association whose mission is to facilitate the development and use of standards for the insurance, reinsurance and related financial services industries.

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ACORD Announces 2003 Awards Program

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