Definitions for "ACORD"
Edit / Association for Cooperative Operations Research and Development - An XML dialect for integrating transaction streams among agents, partners, and carriers in the insurance industry. ACORD XML is a set of nearly 600 standard messaging formats for executing transactions and exchanging policy information in three areas of insurance: property/casualty, life, and re-insurance. ACORD was designed to help bring about two important goals of the insurance processing industry: straight-through processing, which eliminates the need for manual intervention to manipulate date by integrating systems; and Single Entry Multiple Company Interface ( SEMCI), which lets data be keyed in once and sent to multiple recipients regardless of platform. See Also: FIXML
Agency-Company Organization for Research & Development is a non-profit industry association comprised of insurers, producer associations, vendors and other interested parties. ACORD has developed criteria to implement industry-wide standards for data transmission and forms. ACORD's stated mission is to help achieve greater efficiency for the independent agency distribution system, particularly with respect to the use and exchange of information.
The Agency/Company Organization for Research and Development which creates and promotes paper and electronic insurance form standards to facilitate Electronic Data Interchange.