Global insurtech group and key player in insurance in Europe, North America, and Asia-Pacific, Prima Solutions, recently strengthened its partnership with ACORD, the standards-setting body for the global insurance industry, as a strategic global messaging partner. As a Licensed Integrator Partner of ACORD Solutions Group, Prima Solutions joins the growing community of solution providers dedicated to driving the adoption of next-generation digital standards and solutions for global insurance data exchange.
“We strongly believe in the overall ACORD initiative that we have been supporting since the beginning. Prima XL was among the very first reinsurance platforms to include a standard ACORD module”, said Julien Victor, CEO of Prima Solutions.
ACORD Data Standards are widely used throughout the insurance industry, with ACORD members accounting for fully half the world’s written premiums. The ADEPT platform, created by ACORD’s industry-owned extension ACORD Solutions Group (ASG), leverages these Standards to link trading partners and provides data structures, validation, and transformation for a wide variety of functions, including the exchange of placing, accounting, and claims data.
Prima Solutions designs software for insurance and reinsurance professionals, covering all business processes in the life insurance, health insurance (for groups and individuals), non-life insurance, and reinsurance sectors. Driven by the increasing digitisation needs of the reinsurance market, Prima Solutions is connecting its Prima XL cloud-based software for reinsurance management to the ADEPT platform as a fully integrated service to facilitate global messaging transmission for its clients.
Through API interface, Prima Solutions will be able to offer its clients inbound and outbound message orchestration for placing, accounting and claims message formats from both eMessage and non-eMessage enabled partners. Prima XL will also be able to access the ecosystem of placing platform integrations, as well as existing and new initiatives and services introduced by the Future at Lloyd’s program.
“We are delighted that our embedded global insurance messaging assets will enrich Prima Solutions’ insurance solution offering,” said Chris Newman, ACORD’s Managing Director, Global. “Prima Solutions has been a long-standing supporter of global data standardisation, and a key partner of the Ruschlikon European Implementation Groups. This integration of Prima XL with ADEPT is a significant step forward for the global industry in driving straight-through process efficiency and interoperability”.