ACORD, the global standards-setting body for the insurance industry, has announced the launch of the Next-Generation Digital Standards (NGDS) Object Model, designed to streamline digital data exchange across the insurance industry.
The NGDS Object Model enables smoother, more accurate, and more secure data exchange. It bridges the gap between distinct business capabilities and disparate data elements, providing carriers with a structured framework for key functions such as underwriting, policy management, and claims administration.
By eliminating redundancy, reducing integration friction, and improving data quality, it also simplifies technical processes like building APIs and configuring internal systems.
Pat Corless, SVP, Global Chief Enterprise Architect at ACORD, said, “The new Object Model functions as a blueprint for connecting the dots between what insurers do and how their data flows across systems, enabling smarter, faster, and more consistent digital operations.
“Its unifying structure provides a three-way linkage between the individual insurance business transactions that are being automated, the business capabilities serviced by those transactions, and the data objects necessary to fulfill those transactions.”
The model allows insurers to leverage current and emerging technologies through the implementation of ACORD Standards. It is adaptable to any operational system, regardless of its current level of digitalisation, supporting the expansion of digital capabilities.
Key benefits of the new model include alignment with ACORD Reference Architecture for consistent data mapping, practical application of standards across domains and use cases, improved collaboration between business and technology teams, and reduced implementation time and confusion across systems.
Corless added, “The NGDS Object Model gives carriers a common foundation, connecting user stories, data structures, and business processes in a way that’s practical and repeatable.
“This isn’t just about standardizing data—it’s part of ACORD’s long-standing goal to help people, systems, and business outcomes move in the same direction.”
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