PRODUCT CERTIFICATION

ACORD
XML for life
Choosing the right business rule management system (BRMS) to support their XML-based systems just got simpler for insurance companies: ACORD has certified ILOG JRules as fully compliant with the association’s XML for Life standards.

The Association for Cooperative Operations Research and Development (ACORD: www.acord.org) is a global, nonprofit insurance association that develops standards used by the insurance industry and related financial services. The organization promotes the use of a common XML vocabulary for sharing data and ensuring system interoperability. By one analyst’s estimate, insurers achieve integration efficiencies as high as 30 percent by using the ACORD XML standard.

ACORD’s XML for Life certification of ILOG JRules means that insurance companies that use the BRMS with systems that apply ACORD’s XML standard can expect greater cost savings and increased productivity. This is the second ACORD certification for ILOG, which received the association’s Property and Casualty XML certification in 2004. ILOG JRules has become an essential part of global insurers’ IT projects because it lets them improve pass-through rates, better correlate risk to price, reduce underwriting and claims leakage, and bring new policies, products and services to market faster.

“An ACORD associate member, ILOG continues to show its strategic commitment to ACORD, ACORD XML standards and the insurance industry,” says Denise Garth, vice president of membership and development for ACORD. “ILOG has taken a leadership role in helping its insurance industry customers to streamline and automate the management of their business policies.”