ACORD Solutions Group, a leading provider of digital solutions and services for the insurance industry, has announced a significant expansion of its partnership with Salesforce, the world’s leading AI CRM platform. This collaboration will integrate multiple ACORD Solutions Group capabilities into Salesforce Financial Services Cloud, a cloud-based platform designed specifically for the insurance industry.
The integration will leverage ACORD Transcriber, a powerful document extraction tool, to streamline the process of extracting and populating data for Salesforce Financial Services Cloud’s U.S.-based property and casualty customers. This will significantly reduce manual data entry and errors, allowing insurers to work more efficiently and focus on providing better service to their clients.
The integration will also include ACORD Solutions Group’s ADEPT (ACORD Data Exchange Platform & Translator), a platform that automates the seamless exchange of standardized ACORD transactions. By integrating ADEPT into Financial Services Cloud, Salesforce customers worldwide will be able to exchange standardized ACORD Global Reinsurance & Large Commercial (GRLC) placing, accounting, and claims messages. This will ensure compliance with the London Market modernization initiative Blueprint Two, which aims to modernize the way insurance transactions are conducted.
ACORD Transcriber excels at extracting data from both structured and unstructured insurance documents. Salesforce’s open platform will enable ACORD Transcriber to be seamlessly incorporated within Financial Services Cloud solutions, facilitating the extraction, population, and transfer of data contained in ACORD P&C Forms. These forms are widely used throughout the insurance industry, making this integration a game-changer for data standardization and efficiency.
Salesforce is a member of the ACORD Solutions Group Licensed Integrator Partner (LIP) program, a collaborative effort to create a robust digital insurance ecosystem. As a part of the LIP community, Salesforce connects with an ecosystem of vendors providing standardized digital data exchange capabilities to stakeholders across the global insurance landscape.
“We are thrilled to expand our partnership with Salesforce to facilitate the seamless extraction and exchange of insurance data using our industry-owned solutions ACORD Transcriber and ADEPT,” said Chris Newman, President International, ACORD Solutions Group. “This strategic integration allows stakeholders to liberate their data from the page, the spreadsheet, or the CRM, allowing it to be digitally transferred and consumed by almost any system. This will further empower the digitalization of the global insurance market.”
“Our goal is to provide carriers, brokers, and agents with the technology, tools, and resources needed to make their jobs more efficient, enabling them to put their policyholders and clients at the center of what they do,” said Michelle Lewis, senior director of Insurance Brokerage Solutions, Salesforce. “Our expanded partnership with ACORD Solutions Group will help our insurance customers streamline processes and increase transparency across their businesses.”
This partnership signifies a significant step towards a more streamlined, efficient, and digitally-driven insurance industry. By leveraging ACORD Solutions Group’s expertise and Salesforce’s industry-leading platform, insurers can unlock new levels of efficiency and transparency, ultimately providing a better experience for their customers.
