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.
