ACORD Launches New Asset for Streamlining Digital Data Exchange Across the Insurance Ecosystem

Insurers gain game-changing tool to align operational capabilities and data flows between enterprise systems

ACORD, the global standards-setting body for the insurance industry, launched the Next-Generation Digital Standards (NGDS) Object Model. Designed to enable a more effective flow of standardized data between enterprise systems across the insurance industry, the model supports smoother, more accurate, and more secure data exchange.

The NGDS Object Model bridges the gap between distinct business capabilities and disparate data elements, providing carriers with a structural framework for executing essential functions such as underwriting, policy management, and claims administration. By eliminating redundancy, reducing integration friction, and improving data quality, it also streamlines technical processes such as building APIs and configuring internal company systems.

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“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,” said Pat Corless, SVP, Global Chief Enterprise Architect at ACORD. “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.”

By using the model, insurers will be able to more effectively leverage current and emerging technologies through the implementation of ACORD Standards. For example, transactions involving mobile apps, Internet of Things (IoT), cloud computing, or AI-driven systems will all benefit from adopting the model.

The model can also be adapted to fit into any operational system—regardless of its current level of digitalization—supporting the expansion of digital capabilities so companies can stay competitive in an increasingly complex digital environment.

Key benefits of the NGDS Object 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
  
  
• Reduced implementation time and confusion across systems

“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,” said Corless. “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.”