ACORD Solutions Group (ASG) has introduced the ADEPT North America Regional Hub, expanding its digital data exchange platform to support commercial insurance and reinsurance transactions in the region.
The platform – ACORD Data Exchange Platform and Translator (ADEPT) – is designed to standardize and streamline data-sharing processes across placing, accounting, and claims.
It operates on ACORD’s Global Reinsurance & Large Commercial (GRLC) Data Standards and is intended to support interoperability among carriers, brokers, and reinsurers regardless of their current digital infrastructure.
The platform’s foundation is supported by ACORD’s GRLC Generation 2.0 Standards, which were launched in April. GRLC Gen 2.0 aligns with other modernization frameworks across the industry, including Lloyd’s Blueprint Two.
As part of the rollout in the region, ASG is offering 1 million free digital messaging transactions to each new participating carrier and broker in North America.
Chris Newman (pictured above), president international at ACORD Solutions Group, said that ADEPT is designed to improve connectivity across the market by standardizing data exchange and fostering collaboration across participants.
“This isn't just about digitizing processes – it's about connecting markets and enabling the kind of seamless collaboration that drives innovation across the entire industry,” Newman said.
The North America Regional Hub follows earlier implementations of ADEPT in Bermuda, Italy, and Spain. These regional hubs are part of ASG’s broader goal to build a global framework of connected insurance markets.
Performance data from ADEPT’s Bermuda Regional Hub, which launched in March, indicates notable operational impact. According to ASG, users of the Bermuda hub have reported a 70% reduction in unallocated cash, an 80% improvement in data quality, and a 60% decrease in manual effort associated with claims handling.
ASG plans to extend its network further, with future ADEPT Regional Hubs planned in Dubai, Singapore, and the Nordics. These launches are part of a broader effort to facilitate cross-border digital transactions and enhance collaboration across international insurance markets.
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