Platform to be used to establish standardized accounting data
By Abigail Adriatico
Sep 20, 2023 Share
Global Aerospace, an aerospace insurance firm, recently announced that it will be utilizing the ACORD Data Exchange Platform and Translator (ADEPT) by ACORD Solutions Group, a solutions provider for standardized data exchange within the global (re)insurance industry, in order to interact with the broker community all over the world.
“Global Aerospace is committed to advancing innovation and collaboration in the aviation industry, integrating capabilities that help connect our clients and partners around the world,” said Mike Ashton, chief data & applications officer Europe, Global Aerospace.
“ADEPT allows us to quickly and easily engage with stakeholders and will be key as we continue to evolve and modernize with the industry.”
What is ADEPT?
ADEPT allows its stakeholders within the insurance industry to connect with each other as well as letting them experience real-time data exchange, translation, and transformation.
Global Aerospace will be using ADEPT for its Global Reinsurance and Large Commercial (GRLC) use case in order to receive accounting data from brokers.
“Global Aerospace’s near-century of experience in servicing the aviation industry makes them a key partner in enabling streamlined data exchange for insurers in this space,” said Chris Newman, executive vice president and global managing director, ACORD.
“We’re delighted to collaborate with Global Aerospace and drive significant cost savings, enhanced user experience, and superior functionality for stakeholders across the industry.”
ADEPT will also allow the aerospace insurance firm to receive GRLC-standardized accounting or Electronic Back Office Transactions (EBOT) and claims or Electronic Claims Office Transactions (ECOT) messages from brokers all across the London Market Bureau.
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