S’pore Reinsurers’ Association becomes founding member of global advisory council

The council aims to increase efficiencies and digital readiness among stakeholders.

ACORD has announced the formation of the ACORD Global Advisory Council (GAC) to enhance collaboration among key stakeholders worldwide. 

The council aims to drive the benefits of standardised data exchange in leading and emerging insurance markets.

By aligning ACORD global initiatives with the needs of its member community and promoting the adoption of ACORD Data Standards, the GAC will increase efficiencies and digital readiness among stakeholders.

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Chris Newman, EVP & Global Managing Director at ACORD, highlighted the importance of regional market alignment with global standards for efficient communication and digitalization. 

The council comprises representatives from (re)insurers, brokers, and other stakeholders across various regions, including Bermuda, Singapore, Dubai, Europe, and North America.

Founding members also include ACORD, Lloyd’s of London, International Underwriting Association of London (IUA), and others. 

Dave Matcham, Chief Executive of the IUA, will chair the council, emphasising the importance of collaboration in driving progress across the insurance ecosystem.