PPL goes live with facilities and platform improvements
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The Exchange uses agreed ACORD messaging standards to ensure a common framework and guidelines for all electronic communication within the London market. The Exchange seeks to drive market standards and therefore will not accept non-ACORD messages.
Structured information sent electronically will be validated against the agreed versions of the ACORD standard. Users are notified where validation has failed ensuring the common use of the standard.
A smarter way of sharing information
Using ACORD standards a number of benefits can be achieved, including;
Which ACORD version will be used?
This link details the ACORD standard versions supported on the Exchange
It is a requirement that any organisation intending to directly connect to the Exchange is ACORD certified. This includes IT service providers and also managing agents and brokers that connect direct via internally developed systems.
The Exchange has successfully passed the ACORD Hub Certification.
ACORD Testing and Certification Facility (TCF)
The ACORD Testing and Certification Facility (TCF) is a live application which organisations can interact with in order to test and certify their implementations of ACORD messages.
TCF has two modes - message only certification and business trading partner certification:
The message only certification simply checks the XML message to see if it follows the various rules required by the standards.
The "virtual" business trading partner allows ACORD messages to be sent to the TCF. The TCF will validate the messages, and then send back responses indicating acceptance or error(s). The TCF, in this mode, can also trigger messages to be sent.
Getting certified via the Exchange
Certification can be achieved via a direct connection to the TCF or alternatively organisations can connect via the Exchange, the former option means the process will be in line with how an organisation subsequently uses the Exchange.
ACORD is the primary point of reference for all enquiries relating to ACORD certifications.
Please refer to the ACORD website for details on how to request certification.
If you have any questions, please email ACORD directly.
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The government have announced the introduction of new ILS legislation for the London Insurance Market. Please click here for more
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