ACORD released updates to the three data-related facets of the Reference Architecture:
- The Information Model, a comprehensive framework of fundamental insurance concepts, includes more than 150 updates to the various element types. Enhancements include a new Agreement Grouping concept to help insurers analyze their policies and gain business insights, Portfolio Categories to provide ways to classify large numbers of policies, and concepts that help represent tangible and intangible insurable assets.
- The Data Model is a logical data framework of entities and relationships. It has been updated to mirror the additions and enhancements made to the same subject areas of the Information Model in this release.
- A dictionary of insurance concepts and terms, the latest update to the Business Glossary introduces new terms and clarifies existing terms, with more than 6,000 total business terms defined. The Business Glossary now also offers a flexible UML modeling approach to defining glossary terms.
To download Release 2.10, or for more information about the ACORD Reference Architecture, please visit www.acord.org/RA.