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Insurance Gateway


 

Oban has built an ACORD compliant Insurance Gateway.  The gateway bridges the gap between the back-office Registry and the Insurance company using the ACORD insurance messaging standard.

 

ACORD (Association for Cooperative Operations Research and Development) is the global standards-setting body for the insurance industry.  ACORD facilitates fast, accurate data exchange and efficient workflows through the development of electronic standards, standardised forms, and tools to support their use. 

The ACORD standard has been applied to automate all aspects of group and individual insurance, including:

  • New policies
  • Policy renewals
  • Underwriting
  • Claims
  • Premium collection
  • Policy lapses/reinstatements

There will be two secure transport protocols offered, namely:

  • ACORD AMS which is the most widely used protocol by Insurance companies
  • The newer AS4 protocol as used by the Superannuation Transaction Network

This will ultimately open up access to those components of insurance that has previously eluded members.  Members will now have real-time access to their insurance information.