IBM Donates Insurance Models to ACORD
November 5, 2009
The adoption of XML-based standards in many industries has had a significant impact on native XML database adoption. After all, the processing efficiencies offered by a native XML database like DB2 pureXML are vital as systems scale up and out. Readers of the blog will also know that IBM has made it easy for DB2 users to work with many XML-based industry standards by freely distributing working sample implementations of these standards.
Of course, IBM supports such standards by making its industry experts available for participation in many of the standards committees. This week IBM further demonstrated its support for the Association for Cooperative Operations Research and Development (ACORD) and its insurance and financial services standards by donating technology assets including its Insurance Application Architecture (IAA) Business Object/Data Model and the IAA Product Specification Diagram (PSD) to ACORD.
This represents a significant contribution of intellectual property associated with IBM’s insurance industry models. The donated models are from IBM’s Insurance Application Architecture (IAA), the company’s insurance business and IT architecture framework. IAA is continually developed by IBM in collaboration with 100 leading insurance companies around the world, and the IAA model has been licensed by more than 200 insurers worldwide. IAA Business Object/Data Model, coupled with the existing ACORD Information Model, will form the building blocks for the next version of the ACORD Information Model.
This announcement builds on efforts to encourage collaboration and drive innovation in the insurance industry. The adoption of standardized business processes and models will make it easier for insurers to work with agents, brokers and other data partners.
You can read more about this announcement at IBM Contributes Technology Assets to Help Drive Standards in Insurance Industry. You can read more about implementing ACORD standards in DB2 pureXML at Storing and Retrieving ACORD Data for Insurance