ACORD Solutions Group (Pearl River, N.Y./London), a provider of solutions for standardized data exchange throughout the global (re)insurance industry, has announced the launch of the ADEPT Portal, a service layer for users of ADEPT (ACORD Data Exchange Platform & Translator). Several ADEPT users, including SCOR and Echo Re, have already connected via the ADEPT Portal.
ACORD describes ADEPT as enabling real-time data exchange, translation, and transformation. The platform links trading partners, and provides data structure, validation, and reconciliation across a range of business functions. ADEPT delivers global interoperability by connecting trading partners, regardless of geography and existing level of data exchange maturity, by integrating seamlessly with existing platforms, portals, and infrastructure, ACORD says.
The ADEPT Portal is tailored to users of ADEPT for Global Reinsurance & Large Commercial (GRLC) Accounting & Claims. By providing this service layer over the top of ADEPT’s RESTful APIs, ACORD says the portal enhances access to ADEPT throughout the global (re)insurance community, allowing stakeholders to connect via their preferred channels and interact with a broad variety of senders and receivers.
“ADEPT has proven to be a sound platform, with standardized data exchange capabilities that have covered a large number of complex use cases we have come across,” comments Roman Kazancev, CTO, Jean Edwards Consulting, a global consultancy firm with extensive experience implementing ADEPT on behalf of a wide portfolio of (re)insurance and broking clients. “ADEPT has been consistently well received by a number of our reinsurance clients, and implementation is very straightforward with the assistance of the responsive ACORD Solutions team.”
ACORD reports that (Re)insurers and (re)brokers are able to send and receive Accounting & Claims transactions through the ADEPT Portal even if they are unable to, or choose not to, connect to the ADEPT APIs. Users can enact a full two-way workflow with counterparties who are also using ADEPT, or their own ACORD gateway. Other features include what ACORD calls an intuitive dashboard, custom reports, and transaction downloads.
Users of ADEPT are able to integrate with clients of vendors throughout the ACORD Licensed Integrator Partner community, which includes all major placing platforms and policy administration systems for global specialty and reinsurance, as well as connect to existing and next-generation London Market services.
“The new ADEPT Portal is an easy way to access the benefits of standardized global data exchange,” says Chris Newman, Managing Director, Global, ACORD. “Even those who are unfamiliar with the GRLC Standards will be able to quickly automate their inward and outward data exchange and integrate with the global insurance ecosystem.”