ACORD has announced the establishment and inaugural meeting of the ACORD Global Advisory Council.

The GAC will play a central role in increasing efficiencies and digital readiness amongst stakeholders by ensuring alignment of ACORD global initiatives with the needs and objectives of the ACORD member community, as well as facilitating the adoption of ACORD Data Standards in key markets.

“Building on the success of the ACORD London Advisory Board, representing key London Market organisations, our membership wanted to drive greater collaboration in other major insurance markets around the world,” said Chris Newman, EVP and global managing director, ACORD. “Aligning specific regional market requirements and priorities with ACORD’s global standards is the foundation of data-driven digitalisation and efficient communication between global stakeholders.”

The Global Advisory Council members represent the interests of re/insurers, brokers and other insurance stakeholders across various geographies, including Bermuda, Singapore, Dubai, Europe and North America.

Founding member organisations include ACORD, Lloyd’s of London, the International Underwriting Association of London, the Association of Bermuda Insurers and Reinsurers, Singapore Reinsurers’ Association, Dubai International Financial Centre Insurance Association, and the Ruschlikon Initiative

Dave Matcham, chief executive of the IUA, will chair the council. “With the accelerating pace of digital transformation in our industry, the formation of the ACORD Global Advisory Council is a timely and significant step towards increasing collaboration and alignment within leading insurance markets around the world,” he said. “I look forward to working alongside ACORD and our global peers to drive essential progress across the insurance ecosystem.”

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