Recognition for Standards Accomplishments
Some of you in the lending industry may be familiar with ACORD - Association for Cooperative Operations Research and Development. ACORD AL3 is a pre-XML (Extensible Markup Language) EDI standard designed to enable data exchange among property and casualty insurers, their producers, and other trading partners. ACORD standards help businesses operate more efficiently by improving data flow and reducing errors by improving data flow and reducing errors. To those associated with LIXI, ACORD's mandate would sound very familiar.
ACORD awards industry participants for accomplishments using the ACORD's Electronic Data Interchange (EDI) standard and this article focuses on recognition given to a American company in the area of the ACORD Property & Casualty Standards.
LIXI will be awarding similar awards at this year's LIXI Industry Forum. The purpose of the awards will be to recognize industry participants for taking advantage of the opportunities and benefits of LIXI 2.0 in 2014 and planning into 2015.
While recognition and awards help motivate individuals and organisations, the true benefit of standards is the unification of data across industry channels resulting in a rich, high quality data package transferred via a super-efficient, unified process. LIXI is the best vehicle in Australia to make this happen.