ACORD Solutions Group, a provider of digital solutions for the global insurance industry, announced the launch of the ADEPT Bermuda Regional Hub. As part of the data exchange hub’s launch, ACORD Solutions Group will give away one million free digital messaging transactions to each new Bermuda-based client in 2025.

ADEPT (ACORD Data Exchange Platform and Translator) enables the seamless exchange of placing, accounting, and claims data with stakeholders across the global insurance ecosystem, at all levels of digital enablement.

ADEPT Regional Hubs were first launched in western Europe in collaboration with the Ruschlikon initiative, which includes the world’s largest reinsurance carriers and brokers; the Bermuda hub is the first in a series of new digital data exchanges in current and emerging global re/insurance centers.

ADEPT allows organizations to digitally exchange messages across the full scope of the re/insurance and specialty market, with significant savings in time, cost, and manual effort. ADEPT messaging is fully compliant with the ACORD Global Reinsurance & Large Commercial (GRLC) Standards, widely used throughout the industry.

“Bermuda is well known as a hotspot for the reinsurance and specialty markets, and giving new users one million free transactions will further accelerate the digitalization of this market,” said Chris Newman, president International, ACORD Solutions Group, in a statement.

“After seeing the success of ADEPT for messaging across the value chain, we’re excited to launch the first non-European-based hub, with plans to continue expanding this initiative in areas such as Singapore, Dubai, and North America,” he added.

“ACORD Solutions Group has been instrumental in driving greater awareness and adoption of standardized data exchange, and supporting our industry’s shared modernization goals,” said Nicole Kellenberger, co-chair of the Ruschlikon eAccounting & Claims Steering Committee. “The Regional Hub model has proved successful in Italy and Spain, helping firms to transition from email-based transactions to a fully digital workflow, with lower-than-expected adoption costs.”

“ADEPT’s intuitive user interface and API-ready framework make it seamless for firms to get on board and enjoy the benefits of standardized data exchange,” Newman said. “Our GRLC Standards community has reported up to 70% reduction in unallocated cash, 80% improvement in data quality, and 60% reduction in manual effort to process claim transactions. We want to see the entire global industry realize these efficiency gains.”

Source: ACORD Solutions Group