Informatica Corp., a provider of data integration software, announces verification of full ACORD standard compliance at the ACORD Plug and Play Jamboree. The jamboree is an event where vendors and insurance companies test and certify the interoperability of ACORD insurance solutions.

In May, Informatica submitted and certified its ACORD-enabled Master Data Management (MDM) Solution, comprising MDM Hub, ACORD-compliant interfaces, data transformations software and web services. The solution interoperated successfully with four external applications, and fully satisfied certification requirements.

The certification demonstrated that integrating ACORD standards with MDM capabilities significantly benefits insurance companies—delivering 360-degree customer views faster, with less risk, at a lower cost.

The ACORD-enabled MDM solution is comprised of Informatica MDM and Informatica B2B Data Transformation support for ACORD, which deliver MDM building blocks for organizations adopting ACORD standards. This solution reduces start-up costs and roll-out risk for insurance-industry MDM projects while complying fully with current ACORD standards. It also makes it easier for organizations to keep up with future changes to the ACORD standard.

“Master Data Management has taken root in the insurance industry as carriers seek to gain complete and accurate views of their customer relationships in order to deliver better customer service, increase revenues and more effectively acquire and manage customers, mitigate risk and base strategic decisions on accurate information,” says Arvind Parthasarathi, general manager Master Data Management, Informatica. “In order to ensure the success of MDM initiatives, insurance organizations need to integrate MDM with their SOA-based ACORD infrastructure. The Informatica ACORD-enabled MDM solution meets this need with pre-built support of ACORD standards and messages.”

“ACORD is excited to see Informatica's commitment and leadership implementing ACORD Standards,” says Lloyd Chumbley, vice president, standards, ACORD. “From our point of view, plug-and-play certification of Informatica's ACORD-enabled MDM solution is a win for all ACORD members—carriers, vendors, and system integrators alike.”