Web Connectivity Limited (WCL), a Zywave company, agreed with Velonetic, a leading insurance technology solutions provider, to supply ACORD4ALL mappings to support a critical component of the Blueprint Two programme for reform of the London insurance market.
Set to go live in July 2024, a key element of Blueprint Two, a programme to modernise and digitise the London market, is to align London proprietary messaging standards for processing premiums and claims to Association for Cooperative Operations Research and Development (ACORD) standards.
ACORD4ALL, a service developed in partnership with Xchanging in 2008, is a proven way of allowing London market firms to receive premiums and claims data in ACORD format as opposed to only in London-specific EDI files. Over the years, many organisations have successfully adopted ACORD messaging using ACORD4ALL, a service that converts bureau legacy message EDI files to individual ACORD GRLC XML equivalents of technical account, claim movement and financial account messaging.
WCL’s Managing Director James Willison said, “As the largest processor of ACORD GRLC messages globally, WCL is delighted to continue our work in supporting the adoption of ACORD messages in the London market, especially given the importance of the Blueprint Two initiative to the future of the market.”
In 2020, WCL was acquired by Zywave, an industry-leading insurtech provider offering cloud-based sales management, client delivery, content, and analytics solutions. For more information on WCL, visit webconnectivityltd.com. For more information on Zywave, visit www.zywave.com.
About WCL
Acquired in 2020, WCL is a wholly owned subsidiary of Zywave, an industry-leading insurtech provider. An innovator in gateway and messaging for the (re)insurance industry, WCL has over two decades of experience enabling digital trading within (re)insurance markets globally. WCL has expertise in delivering ACORD messaging capability to over 80 carriers and broker partners and has connections to all major digital placing platforms, London Market central systems and services and Administration systems. WCL brings insurance industry players closer together—creating stronger relationships between brokers, insurers and reinsurers. Its solutions help companies streamline core business processes and automate common tasks to improve efficiency and reporting.