ACORD is receiving a product modeling structure donation from IBM Corporation, allowing them to complete the foundation of the Information Model of the Standards Framework.

The ACORD Information Model is a facet of the overall ACORD Standards Framework and describes the requirements of the insurance industry. It will serve as the foundation for standards generation, especially for the creation of ACORD Messages.

The IBM donation consists of an XML schema that expresses the ideas and relationships of the various product concepts and provides a superior technique to describe the business intent incorporated in insurance products. The donation will help to provide the insurance industry with a common, standardized way of expressing its products.

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