Close Menu
Insurance Journal – Property Casualty Insurance News

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Property Manager Criticizes Citizens Insurance

    July 15, 2025

    Hotchkiss Insurance Expands Leadership Team with Three New Partners

    July 15, 2025

    Best Life Insurance Companies with Living Benefits

    July 15, 2025
    Facebook X (Twitter) Instagram
    Insurance Journal – Property Casualty Insurance NewsInsurance Journal – Property Casualty Insurance News
    Facebook X (Twitter) Instagram
    SUBSCRIBE
    • Home
    • Business Insurance
    • Identity Protection
    • Life Insurance
    • Pets Insurance
    • Property Insurance
    • Vevehicle Insurance
    Insurance Journal – Property Casualty Insurance News
    Home » ACORD Solutions Group Launches Free Digital Transaction Hub in Bermuda
    Business Insurance

    ACORD Solutions Group Launches Free Digital Transaction Hub in Bermuda

    insurancejournalnewsBy insurancejournalnewsMarch 14, 2025No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Reddit WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest WhatsApp Email

    ACORD Solutions Group has introduced the ADEPT Bermuda Regional Hub, a new initiative designed to expand its digital data exchange capabilities within the Bermuda re/insurance market. To encourage adoption, the company is offering a significant incentive: one million free digital messaging transactions to each new Bermuda-based client throughout 2025.

    ADEPT, which stands for ACORD Data Exchange Platform and Translator, is designed to streamline the digital exchange of critical data across the global insurance ecosystem. This includes information related to placing, accounting, and claims. This new hub marks the first expansion outside of Europe where ACORD first launched ADEPT Regional Hubs in Western Europe in partnership with the Ruschlikon initiative. Future hubs are planned for Singapore, Dubai, and North America.

    The establishment of the ADEPT Bermuda Regional Hub is strategically timed, following closely on the heels of the 2025 Bermuda Risk Summit. The platform’s core function is to enable digital messaging across the reinsurance and specialty market, thus reducing the time, cost, and manual effort traditionally associated with these processes. ADEPT operates in alignment with ACORD’s Global Reinsurance & Large Commercial (GRLC) Standards, which are widely recognized and used within the industry.

    Chris Newman, president of international operations at ACORD Solutions Group, highlighted the benefits of adopting the GRLC Standards. Citing industry reports, he noted that organizations utilizing these standards have experienced a 70% reduction in unallocated cash, an 80% improvement in data quality, and a 60% decrease in the manual effort required for claims transactions.

    Nicole Kellenberger, co-chair of the Ruschlikon eAccounting & Claims Steering Committee, added that the Regional Hub model has been successful in Italy and Spain. It has helped firms transition from email-based transactions to digital workflows with unexpectedly low adoption costs.

    In a related development, the company also launched data exchange capabilities within its ADEPT platform in November. ADEPT Placing provides re/insurers with a centralized system for managing event data, from the initial quotation to signed line advice, all while standardizing data formats across all broker placing portals.

    ACORD expands ADEPT to Bermuda’s re/insurance market
    ACORD expands ADEPT to Bermuda’s re/insurance market
    ACORD ADEPT Bermuda digital transactions reinsurance
    insurancejournalnews
    • Website

    Related Posts

    Property Manager Criticizes Citizens Insurance

    July 15, 2025

    Hotchkiss Insurance Expands Leadership Team with Three New Partners

    July 15, 2025

    Best Life Insurance Companies with Living Benefits

    July 15, 2025
    Leave A Reply Cancel Reply

    Don't Miss

    Property Manager Criticizes Citizens Insurance

    By insurancejournalnewsJuly 15, 20250

    A property manager has expressed strong dissatisfaction with Citizens Insurance, highlighting the challenges faced by Florida residents due to the state’s insurance coverage collapse.

    Hotchkiss Insurance Expands Leadership Team with Three New Partners

    July 15, 2025

    Best Life Insurance Companies with Living Benefits

    July 15, 2025

    Understanding Life Insurance Death Benefits

    July 15, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    Our Picks

    Property Manager Criticizes Citizens Insurance

    July 15, 2025

    Hotchkiss Insurance Expands Leadership Team with Three New Partners

    July 15, 2025

    Best Life Insurance Companies with Living Benefits

    July 15, 2025

    Understanding Life Insurance Death Benefits

    July 15, 2025

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    Demo
    New

    Montana Eyes Workers’ Comp for First Responders with PTSD

    February 24, 2025

    Best Home and Auto Insurance Deals for Veterans

    February 24, 2025

    Pennsylvania Insurance Department: Protecting Consumers and Regulating the Insurance Market

    February 24, 2025
    Categories
    • Business Insurance (1,842)
    • Identity Protection (539)
    • Life Insurance (1,751)
    • New (5,680)
    • Pets Insurance (521)
    • Property Insurance (998)
    • Vevehicle Insurance (473)

    Property Manager Criticizes Citizens Insurance

    By insurancejournalnewsJuly 15, 20250
    Facebook X (Twitter) Instagram Pinterest
    © 2025 Insurance Journal News. Designed by Insurance Journal New.

    Type above and press Enter to search. Press Esc to cancel.