Meet Carol Castelloni, VP ofStandards

This year, ACORD welcomed Carol Castellonias our new Vice President of Standards. Shehas a long history with the Standards, servingin key roles at Accenture, Acxiom, and CNAInsurance. Most recently she was SeniorPrincipal at ISO/Verisk Analytics, where sheprovided advisory services and engaged withstrategic clients across the P&C domain.

Q: What were your experiences with ACORDin your previous companies? What made youwant to join us?

A: In 2001, I was a Program Manager in theBusiness & Technology unit for CNAReinsurance. I led the first implementation of aU.S. reinsurance system-to-system integration

for accounting and claims transactions using

ACORD EDI Standards. As a result, CNAreceived the Business AutomationImprovement and Business Process RedesignACORD Awards in 2002. I also participated asa co-chair for the Reinsurance Process E-Standards working group. Because of my pastexperience, ACORD has always been near anddear to my heart. The time felt right toembrace the opportunity with ACORD andmake an impact on continuing the evolution ofinsurance standards.

Q: How is the view of ACORD from theinside similar to what you expected? How isit different?

A: One thing that did not surprise me was thewisdom and warmth of the ACORDorganization. The knowledge and talent acrosslines of business and related technologies areconsistently impressive. The entire group haskindly welcomed me and provides a great dealof support to help with my integration.

Related to that, the biggest difference Inoticed immediately was the quick pace ofactivity. I previously worked for extremely large,complex corporations – where it can take along time to effect change and makenoticeable impacts. At ACORD, I immediatelynoticed a heightened sense of responsivenessand propensity towards action from both thestaff and our members. 

Q: What are your overall philosophy andvision around the Standards?

A: I believe that the true “mission” of theStandards is to maximize value and reducecosts for stakeholders across the insurancevalue chain. To that end, ACORD will remainclosely aligned with evolving industry trends,strategic business needs, and increasinglycomplex technology challenges. I want ACORDto enable key capabilities through flexibleStandards that align with this vision.

Q: What’s on the horizon for the Standardsin 2017-2018?

A: We piloted a new, more agile approach tothe Standards development cycle in theEmployee Benefits ImplementationCommunity, and we expect a new EmployeeBenefits Standard release to come out of thatby the end of the year. We’re alsoimplementing JIRA and Confluence, new toolsto support enhanced collaboration and votingcapabilities, across all of our Working Groupsand Implementation Communities.

A little further down the road, we’reaccelerating the pace for creating a CyberStandard, and that will be a priority in thecoming year. The other focus area will be oncontinued optimization across the Standardsdevelopment lifecycle, including support toolsand processes. Our streamlined process isgoing to be faster, leaner, and responsive toStandards users’ feedback in a moreimmediately impactful way.

Q: Where are you when you’re not in theACORD offices?

A: I have been a Chicagoan all my life. I was anundergraduate at the University of Illinois inUrbana-Champaign and received my Masters’degree from DePaul University. The majority ofmy immediate and extended family all live inthe Chicago area. I currently reside inNaperville – one of the largest cities in Illinois –less than 30 miles west of Chicago. In thesummer time, my family and I love to bike,swim, and barbecue!

 

It’s ACORD Awards Season!

Do you, or someone you know, deserve to berecognized for outstanding achievements thisyear in ACORD implementation? Let us know!

The submission deadline for the 2017 ACORDAwards has been extended until Thursday,August 31.

An ACORD Award is a prestigious honor,recognized throughout the insurance industryworldwide. ACORD Award categoriesrecognize business process improvement,individual and organizational leadership, globaloutreach and industry community excellence.

The 2017 ACORD Awards will be presented atACORD2017, October 24-26 in Boston.

MORE INFO

APPLY NOW

 

Test Harness Expands Its GRLCCapabilities

After beta testing by volunteer implementersfrom the GRLC community, the ACORD TestHarness rolled out self-service testing andcertification capability for the GRLC EBOT(Accounting and Settlement) Version 2016-10Messaging Standards for live usage in July. Thiswas quickly followed by the roll out of thesame capability for GRLC ECOT (Claims)Version 2016-10 Messaging Standards in earlyAugust. 

The previous version, 2015-04, is alreadysupported by the test harness, and the rolloutof 2016-10 is in line with targets agreed uponwith the Ruschlikon global implementationcommunity, who are planning to migrate from2015-04 to 2016-10 by April 2018. The ACORDTest Harness is seen by them as key to thismigration, as certification of all implementers’messaging interfaces provides certainty that

every developer has complied with the

published standards. Keep up to date withRuschlikon activities atwww.acord.org/Ruschlikon.

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Share Your Knowledge!

ACORD is conducting a study to gain insightsinto how the insurance industry is managingend-to-end customer experiences. In a digitalage where brand loyalty, trust, and profitablegrowth are key, it is critical to understand thestrengths and weaknesses of how yourcompany – and your competition – design anddeliver these experiences.

Your participation in the study will not onlyallow us to gain essential insights, but you willalso:

Receive a report benchmarking yourcapabilities against global best practicesReceive a summary of the final publishedpaper on the readiness of insurancecompanies' customer experiencecapabilities Be entered for a chance to win freeadmission for two to ACORD2017,

including an in-person debrief at the event.

Three runners-up will also receive an in-person debrief. Debriefs will be conductedwith David Hicks, CEO of TribeCX, who willpersonally walk you through your resultsand explain how your scores compare to theACORD Customer Experience capabilitybenchmark.

All information will remain totally confidentialand anonymous. Please feel free to distributethis survey invite to a colleague in yourorganization who is involved in customerexperience delivery.

COMPLETE THE SURVEY

 

 

LEARN MORE & REGISTER

BOOK YOUR ROOM

The Secrets of Value Creation atACORD2017

You’re invited to join ACORD CEO Bill Pieroniat ACORD2017, where he will personallypresent the results of two groundbreakingstudies on Value Creators in the P&C and Lifefields. These presentations will reveal thestrategies and tactics employed by thoseorganizations that have been most successfulat delivering consistent value over time.

ACORD2017 is the only conference that bringstogether insurance professionals of all roles,from across all geographies and all lines ofbusiness. From professional development andcontinuing education to business and strategy,at ACORD2017 you’ll learn everything youneed to know about the intersection ofbusiness, technology, and the future ofinsurance.

Already registered? Don’t forget to book yourroom using this link to get the specialconference rate. Rooms are selling out fast!

We’ll see you October 24-26 in Boston forthree days of knowledge you can put intoaction. Let’s connect at ACORD2017!

 

Thanks to Our Sponsors &Exhibitors!

A big welcome to our latest ACORD2017Platinum Sponsors: Oracle, Tata ConsultancyServices, and EY; and to our new GoldSponsor, Pegasystems. Thanks for makingACORD2017 possible!

If you act quickly, there’s still time for you tojoin them and give your brand valuableexposure to an audience of leaders anddecision-makers from across the insurancespectrum.

There are only three spots left for Exhibitors.If you act quickly, there’s still time to reserveone of our custom-built, all-in-one kiosks.

There are also still a few customizablepackages for Sponsors available. We’re happyto work with you to tailor your sponsorship toyour needs and your budget.

For more information, download theACORD2017 Sponsorship & ExhibitorProspectus or contactsponsorship@acord.org. Then head on over toour Exhibitor & Sponsorship Portal to sign up!

SIGN UP

 

Chicago Finalists Announced

The 2017 ACORD Insurance InnovationChallenge continues! Dozens of competitorsattended the Chicago Semi-Finals, hosted atthe offices of Willis Towers Watson, to vie for aspot in the Final Round. Congratulations to ournewly minted Finalists: Conservation Labs(Startup Disruptor), and The Institutes (IndustryInnovator).

The AIIC was the first insurance-specificinnovation competition and is still the world’spremier event for innovation in insurancetechnology. It brings together insurancecompanies of all sizes and across all lines ofbusiness, investors and venture capitalpartners, technology startups, and industryinnovators.

Conservation Labs and The Institutes will joinInsurance Agent App and IVANS InsuranceSolutions (the winners of the New York Semi-finals), along with the winners of the upcomingLondon Semi-finals, at the AIIC InternationalFinals, to be held in October at ACORD2017.The combined prizes at stake are valued atover $300,000.

Thanks to our partners in the Chicago Semi-finals: Willis Towers Watson, Willis Re, ACORDSolutions Group, and the Global InsuranceAccelerator. Special thanks to our sponsor,TransUnion, for helping to make it all possible!

Information is a powerful thing. At TransUnion,we realize that. As the insurance industrycontinues to rapidly evolve, insurers mustadapt to keep pace with changing consumers,competition, and technology to remainsuccessful. That means they need access todeep, accurate information quickly—for morerefined pricing and segmentation, streamlinedunderwriting and operational efficiencies.

We are dedicated to finding innovative waysinformation can be used to help insurancecarriers make better and smarter decisions.Our innovative, credit-based and risk-management solutions are rich with uniquedata and advanced analytics to get insurersbetter information sooner. We help insurancecarriers identify and verify consumers, protecttheir books against fraud, market effectivelywith the most appropriate offers at the righttime, and more. Armed with these innovativetools, insurers can confidently acquire andretain the right customers, improveunderwriting and pricing techniques, competemore effectively and ultimately grow theirbusiness.

 

InsurTech in London

If the ACORD Insurance Innovation ChallengeLondon Semi-finals on September 5th leave

you wanting to know even more aboutInsurTech innovation on the European scene,be sure to check out InsurTech Rising,October 16-18 in London.

InsurTech Rising, Europe’s largest InsurTechevent, will bring together over 700 attendeesfor three days of insight from leaders at theindustry’s cutting edge. Hear how insurers areharnessing the power of InsurTech toaccelerate their digital transformation, see thelatest innovations in action from over 100hand-picked InsurTechs, connect with keyplayers shaping the InsurTech sector, and learnabout the technologies that will transform theindustry, from blockchain to artificialintelligence.

Register using the ACORD VIP codeFKN2527ACC for a 15% discount to InsurTechRising, courtesy of ACORD.

LEARN MORE & REGISTER

 

On June 27, the ACORD London Office hostedthe second ACORD Quarterly of 2017. At thisfree event, speakers cover a range of topicswith an audience of opinion-makers in theLondon Market, including brokers,

underwriters, CIOs, COO’s, subject matter

experts, and solution providers.

The June Quarterly speakers were:

Adrian Thornycroft, Programme Director forthe London Market’s Target OperatingModel. Adrian led a lively discussion aboutTOM adoption – what should the TOM bedoing, and what should market firms bedoing?David Sumner of Cybus Global, a SpecialAdvisor to JDX and VIPR on General DataProtection Regulation, and a former PoliceDirector of Intelligence and Head ofCriminal Justice. David advocated the needfor immediate education about GDPR for allinsurance companies.David Smith, futurist and Chief Executive ofGlobal Futures and Foresight. Daviddiscussed some of the opportunities ofBrexit, including those for the insuranceindustry and the economy in general, andthe impact of the recent General Election. 

For more information or a copy of thepresentations please contact Mark Kinsella orPenny Bevan-Hopkins. The next Quarterly isscheduled for September 6th at the ACORDLondon Office in Minster Court, Mincing Lane.

SEE UPCOMING DATES

 

Change Agents: ACORD & ANZIIF

ACORD is a proud sponsor of the 14th AnnualAustralian Insurance Industry Awards,presented by the Australian and New ZealandInstitute of Insurance and Finance (ANZIIF). Formore than 130 years, ANZIIF has pursued itsmission of “supporting professional excellenceto enhance the standards, reputation, andsuccess of the industry.”

ANZIIF recently interviewed ACORD CEO BillPieroni to discuss the impact of our industry onsociety, how Standards mitigate risk, and howour organizations’ visions intersect. “ANZIIF’sfocus on providing the industry benchmark forindustry education and qualifications is nodifferent to our goals of creating a commonstandard for all insurers to share data,” Pieronisaid. “From insurance industry leaders totechnologists and researchers, the consensus isthat standards are essential to improvingcommunication and data sharing betweensystems and organizations.”

READ THE FULL INTERVIEW

 

Once again it’s time to spotlight a vendormaking an impact on the insurance industry.This month, we spoke to Bob Brown, CEO ofVIPR, a London-based solutions providerfocused on the delegated authority business.VIPR is not only one of ACORD’s newestmembers but was also the very first adopter ofASG DeleGate, the bordereaux transformationand reporting platform offered by the ACORDSolutions Group.

Q: What made you want to join ACORD?

A: As market leaders with IT solutions for theinsurance industry, we have for many yearsembraced ACORD Standards. With the launchof ASG's services, it was an obvious step tototally engage with ACORD and ASG, and I amdelighted that VIPR is among the very firstsupporters of the ASG initiative.

Q: How do ACORD Standards & ASG'sservices fit into your company's strategicvision?

A: At VIPR we are focused on providing ITsolutions to the many and varied challengesfaced by the market. At the very core of ourbusiness is checking, cleansing and validatinghuge amounts of disorganized & unstructureddata. Our obsession with accuracy and

standardization of huge data streams clearly

make a perfect partnership with ACORD.

Q: What made you eager to be the firstadopter of ASG DeleGate?

A: At VIPR we have for many years now beenat the very forefront of market solutions. Weare innovators and enjoy leading the way.When we heard about ASG DeleGate, it was soclearly an initiative we wanted to be a part offrom the very start.

Q: Describe ACORD in one word.

A: “Indispensable.” 

Q: What makes you proud to work for yourcompany?

A: As joint founder with my brother Richardand our CTO Paul Templar, our pride comesfrom building a market-leading company with afirst class reputation and an ever-growing clientbase. 

Q: Name one thing at work that alwaysmakes you smile.

A: A top class testimonial from a happy clientwill always bring on a smile! Fortunately wereceive a lot of these, so you will generally findme looking happy.

 

Christof Mascher on DigitalTransformation

ACORD board member Christof Mascher(Chief Operating Officer & Member of theBoard of Management, Allianz SE) recentlyparticipated in a panel at the DigitalFutureSummit at ESMT Berlin ’17. The Summitfocused on two main topics: Digital BusinessTransformation and Digital Entrepreneurship.Panelists from all over the industry, as well asacademia, worked together as they connectedcurrent business ideas with the future ofdigitalization.

Christof also recently attended the opening ofthe InsurTech Hub, a new initiative from 12German insurers, in Munich. Its goal is to jointlyfoster digital transformation in the entireGerman insurance market, utilizing the uniqueecosystems of start-ups, corporate partners,investors and research institutions residing inMunich. Christof’s tweets and retweets aroundthe event developed into positive discussionsabout digital transformation and diversity inour modern landscape. Feel free to follow himfor more updates!

CHRISTOF ON TWITTER

John Leonard: An EnduringLegacy

ACORD’s Immediate Past Chair John Leonard,who announced his retirement this year aftermore than 20 years as President & CEO ofMEMIC, is being honored with theestablishment of the MEMIC John T. LeonardEndowed Chair in Risk Management andInsurance at the University of Southern Maine.This is only the second endowed chair createdat USM since its founding in 1878.

“We’ve had a very successful partnership withJohn Leonard and MEMIC over the yearsaddressing issues of workforce development; Ilook forward to future innovative endeavors,”said USM President Glenn Cummings. “John isknown in the insurance industry as a greatsupporter of education. We believe thisendowed chair and the benefits that will accruefrom it are perfect ways to honor John’s legacyto Maine.”

READ MORE

 

Help Us Make a Difference

LEARN MORE

CONTACT US

ACORD members have joined with dozens ofother partners in business, education, andgovernment to support the Million WomenMentors program, with the goal of advancingthe careers of women in our industry andothers.

Million Women Mentors is an initiative ofSTEMconnector, which aims to increase theinterest and confidence of women and girls inthe STEM fields (science, technology,engineering, and mathematics). They havesurpassed their goal of one million mentoringpledges and have almost achieved theirextended goal of two million pledges, thanksto the overwhelming support of ACORDmembers and others. Please contact us to findout how you can get involved!

 

In Case You Missed It: ACORDMeets Salesforce

ACORD’s CEO Bill Pieroni and Board Vice-Chair Spero Zacharias joined Salesforce topresent a webinar on “Future-Proofing theDigital Insurer” last month. If you weren’t ableto join us live, don’t worry – it’s still available ondemand!

This highly interactive discussion focused onhow innovative insurers are developingfoundational capabilities for digitaltransformation and AI, and how they aredifferentiating themselves with delightfulcustomer and agent experiences. Topicsincluded:

What leading insurers are doing to digitizethe insurance value chain and differentiatecustomer experienceHow to determine what phase of "digitalmaturity" your organization is inHow to overcome the challenges of digitaltransformation in organizations that areaverse to changeHow to prepare your business, technologyenvironment, and culture for innovation andagility

 

REGISTER TO WATCH

 

New Releases

Both P&C and L&A had new Standards releasespublished June 30th:

Property & Casualty XML 2.2.0Property & Casualty AL3 Spring 2017Life & Annuity XML 2.38.00

Life & Annuity also saw enhancements to thefollowing Forms:

951: 1035 Exchange/Rollover/Transfer Form951e: 1035 Exchange/Rollover/TransfereForm (including eSignature)760 IL: Illinois Notice RegardingReplacement Form

Deadlines Approaching

Maintenance Requests are due by September15th for:

All Property & Casualty StandardsLife & Annuity XMLLife & Annuity Forms

DTCC EDI, FYI…

Some key dates are approaching for theACORD DTCC EDI Standard:

EDI Candidate Release: August 4thEDI Plenary: August 17th (first half-hour ofPWG meeting)EDI Voting: September 7th-15thVoting Results: September 18thFinal Publication: September 28th

August 31, 2017 Australian Insurance Industry Awards Sydney, Australia

September 5, 2017 Insurance Innovation Challenge Semi-Finals:London London, UK

September 6, 2017 ACORD Quarterly London, UK

September 13-14, 2017 Digital Insurance: Women in InsuranceLeadership Chicago, IL

L&A Wants You!

The Life & Annuity Architecture WorkingGroup (LAWG) is currently acceptingapplications to fill the position of co-chair. Ifyou’d like a voice in shaping the future of theStandards, we’d love to hear from you!

VOLUNTEER

 

2017 ACORD Events Calendar

October 16-18, 2017 InsurTech Rising London, UK

October 24-26, 2017 ACORD2017 Boston, MA

October 24-26, 2017 Insurance Innovation Challenge Finals Boston, MA

November 23, 2017 London Market Awards London, UK

December 5, 2017 ACORD Quarterly London, UK

© 2002-2017 ACORD

Phone: +1.845.620.1700

Email: memberservices@acord.org

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