Coforge Partners with ACORD Solutions Group for Global Insurance Modernisation

Coforge Limited has announced a strategic partnership with ACORD Solutions Group, joining its Licensed Integrator Partner (LIP) program. This collaboration aims to drive the automation of submissions, placement, accounting and claims data exchange for global broker, insurer, and reinsurer clients.

Enhancing Insurance Data Exchange

The partnership will leverage ACORD’s advanced solutions, including ACORD Transcriber, an Intelligent Document Processing tool and ADEPT, a real-time, cloud-based digital data exchange platform. These tools will simplify integration between brokers and carriers while supporting carrier integration with the London Market’s ‘Blueprint Two’ market modernization initiative.

Coforge will empower its clients with AI-driven extraction models that facilitate the seamless digitization of critical insurance documents, such as submissions, contracts, accounting records, and claims. This innovative technology enables Coforge’s clients to effortlessly send and receive digital data for placement, accounting, and claims with their global trading partners, enhancing efficiency and operational speed across the insurance value chain.

Commenting on this collaboration, the President International of ACORD Solutions Group, Chris Newman, said, “This partnership with Coforge marks a key step towards driving greater adoption of standardised data exchange and enhancing digitalisation across the insurance

industry. We’re happy to see the LIP community grow and help drive efficiency across the market.”

Rajeev Batra, EVP and Head Insurance, Coforge said, “At Coforge, we have established strategic partnerships with leading core platform providers. These alliances have positioned us as market leaders in driving core transformation for our insurance clients. Our partnership with ACORD Solutions Group signals a significant step forward in developing connected enterprise solutions that are not only industry-leading but also future-ready.”

On December 10, 2024, Coforge share price opened at ₹8,870.05, touching the day’s high and 52-week high at ₹8,988.30, as of 11:42 AM on the NSE.

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