mea Platform and ACORD Solutions Group (ASG) have collaborated to facilitate the adoption of automated underwriting processes and digital data exchange in the insurance sector.
The collaboration will focus on enabling the automation of transactions throughout the underwriting, policy administration, claims, and placing lifecycle, allowing clients to optimise their operations.
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As part of this partnership, mea Platform will integrate with ASG’s global data exchange platform, ADEPT.
This platform serves as a universal hub for the exchange of placing, accounting, and claims data between insurers, brokers, and managing general agents (MGAs), either directly or through third-party placing platforms.
The integration of mea’s data extraction AI platform with ADEPT’s placing interface will allow (re)insurers to receive data in a structured API format from digital placing transactions.
This development will facilitate the automated ingestion and integration of standardised data in accordance with ACORD’s global reinsurance and large commercial (GRLC) standards into downstream systems.
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By GlobalDataACORD Solutions Group international president Chris Newman said: “mea Platform has built a respected team delivering high-impact insurance processing solutions. By integrating ADEPT, mea’s growing user base can seamlessly connect to ACORD Standards worldwide for placing, accounting, and claims, amplifying value and unlocking new opportunities.”
mea Platform CEO Martin Henley stated: “This integration with ADEPT marks a pivotal step in insurance industry modernisation, enabling (re)insurers to process business with unprecedented efficiency and data completeness regardless of how it arrives, whether through traditional channels or placing platforms, helping them to thrive in an increasingly digital world.”
In December 2024, ACORD Solutions Group also partnered with insurtech company Ping Data Technology to enhance property underwriting through the utilisation of Ping’s SOV ingestion technology and ACORD Transcriber’s data extraction capabilities.
