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Posted on 30 May 07
Fireman's Fund Insurance Company has received an award for leadership in standards adoption and implementation of its Web services platform by the Association for Cooperative Operations Research and Development (ACORD), a global nonprofit insurance association whose mission is to facilitate the development and use of standards for the insurance industry.
Fireman's Fund Insurance Company's award-winning Web program offers an enhanced underwriting solution to more than 500 employees within Fireman's Fund's Commercial underwriting division. The award was presented at the ACORD Awards Ceremony held during the ACORD LOMA Insurance Systems Forum on May 20 in Orlando.
The ACORD Awards recognize companies that have embraced standards as a powerful solution that improves data communications and workflow efficiency, saves money for the entire industry, and expands trading partner opportunities. This year, the ACORD Awards focus on implementations that highlight business value, business opportunities, and trading partners.
Fireman's Fund® was recognized for its new underwriting system which will help the firm improve its loss ratio by providing consistency of risk selection.
"From an IT perspective, it builds upon our growing repository of reusable services, reducing IT costs and moving our technology forward," said Oliver Bussmann, chief information officer for Allianz of America.
"On behalf of ACORD, I congratulate Fireman's Fund on receiving the Web Services Award and for its continued commitment to the implementation of ACORD standards," said Denise Garth, vice president, Membership and Standards.
For more information about ACORD, visit www.accord.org.
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