Resources and Documentation - ACORD - The London Market  
-------------------------------------------------------------------------------------
 
Since acquiring the RLC program, ACORD has evolved the RLC standards in line with the London market’s requirements. The RLC standards were originally created by the major Brokers, Insurers and Reinsurers who operate in the London and Worldwide Insurance industry. From its early use in EDI the ACORD standard has evolved into more efficient XML-based messages. ACORD has also produced a Testing and Certification tool to ensure that messages conform to the standards and applicable business rules.

At present, trading in London is based on the use of paper or paper and London-based EDI. London ’s challenge over the next 2 to 3 years is to move fully to ACORD XML and DRI. The overall aim is to create an environment that is used by all organisations; where all processes are fully automated; which utilises the ACORD RLC standards, and enables remote working but does not impose it.

ACORD’s role in the London Market is primarily tied to implementations as the majority of the standards required by London are complete. 

Back to Standards