ANNUAL REPORT 2017

1 ACORD BY THE NUMBERS

Years of Parǎcipaǎng Standardized 45+ Industry Service 4000+ Organizaǎons 1200+ Transacǎon Types SERVING THE GLOBAL INDUSTRY

4 of 5 Top Brokers

9 of 10 Top Soluǎon Providers 21 of 25 Top P&C Carriers 19 of 25 Top L&A Carriers 20 of 25 Top Reinsurers

5% Re

15% L&A

1/3 Global GWP by 80% P&C ACORD Members

20 Countries Represented

FACILITATING GLOBAL DATA EXCHANGE

ACORD regulatory ACORD forms downloaded 6,000 submissions to date 400,000 over last five years

Core systems leveraging Annual ACORD 7,000 ACORD Standards 6,000,000 message transacǎons TABLE OF CONTENTS

Letter from the CEO 2 ACORD: Year in Review 3 Membership 4 Standards & Architecture 6 Thought Leadership 10 Board of Directors 11 Participant List 12 From the Chairman 23

1 LETTER FROM THE CEO

ACORD has a nearly fifty-year legacy of enabling efficiency, growth, and success across the insurance value chain. However, that does not free us of the responsibility to change.

Change can be difficult to contemplate, let alone implement – but in order to fulfill ACORD’s promise to our members, we must continually look for ways to improve ourselves, to deliver new value, and to grow with the industry into uncharted territory.

This year I had the opportunity to personally visit many of our members, keynote several conferences, and participate in other thought-provoking discussions. What I found was an industry which is more future-focused than ever before.

Conventional wisdom may hold that the insurance industry is averse to change, but it has become obvious to all of us that we must focus on change in order to meet the challenges, and embrace the opportunities, of a rapidly evolving reality.

In 2016, we began a process of thoughtful, impactful change at ACORD. In 2017, we built upon that foundation in order to refine how we deliver on our core mission: fulfilling the needs of our members.

We are deploying a more nimble and transparent standards development process, which will enable us to be more responsive to our members’ needs, in a more focused and complete way.

In partnership with our member-owned subsidiary, the ACORD Solutions Group, we have begun to offer more services and assets to reduce the time, cost, and risk of Standards implementation. Sincerely,

We have also worked on our members’ behalf to ensure that, while our Standards benefit our industry as a whole, they deliver the proper value to those who have invested in creating them.

Finally, through white papers, strategic studies, and global symposiums and workshops, we have Bill Pieroni exposed our members to valuable, measurable, and actionable thought leadership. We are proud to President and CEO, ACORD contribute this content to the industry.

It is my privilege to work with each of you as we explore the future of the insurance industry, together. Remember: ACORD is here to serve you.

2 ACORD: YEAR IN REVIEW

Standards & Architecture Operations

In 2017, we continued to transition to a more This year we focused on more efficiently delivering agile and results-driven Standards development enhanced quality and impact to our members, process. After conducting thorough evaluations, we both by deploying new capabilities, and refining streamlined and consolidated our implementation existing ones. We built and launched our Forms communities, increasing their relevance and value. We improved Portal and Advantage Plus program, enabling ACORD Forms users the quality, completeness, and business alignment of Standards of any participant type to access Forms quickly and efficiently. delivery, while reducing both defect rate, and the cost and time to We also launched new tools to digitize the maintenance request support Standards development. process, and enable effective virtual collaboration in our community. Membership Looking Ahead: 2018 and Beyond ACORD welcomed 83 new participants this year, including more members in our new, non- In the coming year, ACORD will continue to traditional member categories (such as Research & Consulting build upon these, and other, improvements. We will continue and Private Equity & Venture Capital). We also refined our events, to streamline the Standards development structure in order to certifications, and other offerings to focus even more on our increase efficiency and productivity, and improve communications members’ core needs. across all domains. We will also leverage our new tools and techniques to accelerate the pace of collaboration, voting, and Research & Development Standards releases. In addition, we will continue to align the value and cost of We continued to enhance the output of our R&D membership, and ensure that our members continue to realize department in 2017, publishing ten white papers measurable and valuable benefits from their participation in as well as other strategic studies and thought ACORD. leadership materials. We also launched newsletters focused on Blockchain and InsurTech, and established research Finally, we will refine existing idea-sharing platforms, and expand partnerships with several highly respected organizations. into new ones, in order to make our proprietary and collaborative research assets readily available to our members in specific and actionable forms.

3 MEMBERSHIP

In 2017, we continued foundational changes to not only deliver This year we also visited with many of our members to learn value aimed directly at our members’ core needs, but also to first-hand what their most pressing needs are, and how ACORD develop ACORD membership as a platform for growth and impact can address and resolve them. We made a concerted effort to for our members and the industry at large. optimize our events, R&D, and other idea-sharing platforms to focus them on the core needs of our membership. We continued our efforts to align the value and cost of membership, delivering value to our members by ensuring Finally, we performed an extensive occupational analysis this the proper use of ACORD assets to benefit those who have year in order to guide improvements to the ACE certification contributed to developing them. process – an initiative which we will expand to our other training and education assets in the coming year. We also ACORD welcomed 83 new participants this year, and we have began the process of enhancing our Digital Credentials, System continued to diversify our member base by engaging different Certifications, and ACORD Awards, in order to allow our members types of organizations. In particular, through our Early-Stage to showcase their qualifications and highlight their efforts on Solution Provider Membership Program, and the ACORD behalf of the industry. InsurTech Innovation Challenge, we have become a standards platform for startups and other innovators in the insurance We always welcome your questions, feedback, and input. Feel industry. free to contact us at [email protected].

4 Welcome to our new members:

AG Risk Insurance Inc ● Allied Specialty Insurance Inc Jackson National Life ● JDX Inserve Limited

Allstar Underwriters Inc ● Annuity Knowledge Systems LLC Jones & Wenner ● Leavitt Group Enterprise ● Lineslip

Assured Partners ● Australian Administration Services/Link Solutions McDonald Insurance ● Midlands Management Corp

Group ● Barton Mutual Insurance ● BB&T Insurance Services Mutual Of Omaha ● Nassau Reinsurance Group

Blocksure Limited ● Bremen Farmer’s Mutual Ins Co Broker Next-Insurance ● Nicholas Hill Group Inc ● One Inc ● Outdoor

Buddha ● Capgemini ● Chainera Technologies Citizens Underwriters ● Penguin Creek Procede Ltd ● r10 Consulting LLP

Property Insurance Corp ● CodeObjects Commercial Insurance Security Federal Premium ● Send Technology Solutions Sentry

Group LLC ● Covr Financial Technologies ● Digital Tech Srl IMS ● Sentry Select Insurance Co ● SMA - Strategy Meets

Diversified Commercial Insurers ● Dryden Mutual Insurance Co Action ● Sooks and Pebbs Pty Ltd ● Sphera Solutions Steinhoff eBridge ● Etherisc GmbH ● Exxon Mobil Risk Management Inc Risk Solutions ● Surematics ● Tech Mahindra ● Topdanmark

EY Global Services Limited ● General Atlantic Service Co EDB A/S ● Torchmark Corp ● Tremor Technologies Inc TribeAML

LLC ● Goldman Sachs ● Gratex International ● The Gray Inc ● Turrentine Insurance Agency ● Two Sigma insurance

Insurance Co ● Greyhawk Insurance Co ● Groundspeed Quantified ● UPMC Insurance Co of WI ● VTX LLC

Analytics Inc ● HEMISPHERE Cyber Risk Management, Inc W A Schickedanzy Agency ● Wave Insurance

Hi Marley ● Higginbotham ● IBQ Systems ● Indio Technologies Technologies AVYST ● Western Mutual Insurance

Infinity Casualty Insurance Co ● Insurercore.com Ltd Group ● WestGUARD Insurance Co ● Winchester

InsureScan ● InsureX ● Intelledox ● iSurity General Agency Inc ● Xdimensional Technologies Inc

5 STANDARDS & ARCHITECTURE

2017 Year in Review

Throughout 2017, ACORD assessed working In early 2017, we launched our Online Help Portal, allowing our groups for continued relevance and productivity members to access the XML help files from anywhere. We also in the overall enhancement and development accelerated the development, maintenance and publication of the of the ACORD Standards. We also identified several process XML Standard through the use of a new Standards Development improvements within the standards development lifecycle, Platform (SDP). creating an opportunity to streamline functional stages and reduce defect rates. Moving forward, we will continue to explore alternative approaches and new potential areas for standards development, Acting on the results of these evaluations, we improved efficiency including donated assets and more flexible updates. in the process, governance, and organization of our standards development. This will result in a more agile, responsive, and impactful delivery of Standards to address our members’ needs. Life & Annuity The L&A community unanimously approved 75 We also deployed two important new tools – JIRA and maintenance requests affecting XML and Forms Confluence – across all program domains and implementation Standards this year, covering two release cycles. communities. These tools provide enhanced virtual collaboration We also welcomed three new Chairs to our Implementation space and online voting with the goal of increased engagement Communities. and flexibility for our members. In 2017 we released two updates to the DTCC EDI Standard, Property & Casualty as well as launching a new Implementation Community to drive updates and enhancements to the Employee Benefit XML In 2017, the P&C community approved 127 Standard which was donated at the end of 2016 by Benefitfocus. maintenance requests, which were reflected in subsequent Standards releases. Finally, we continued to develop improvements to better support eDelivery. This will remain a focus in the coming year, as will We also continued to reduce the size and complexity of the the development of new tools for the creation of standards XML Standard. This was achieved primarily through flattening development assets. and simplifying complex hierarchies, as well as supporting straightforward extensibility.

6 Global Reinsurance & Large Members also initiated implementation of the commercial policy synch message, resulting in a number of maintenance requests, Commercial which will be implemented in early 2018.

A total of 29 maintenance requests were approved through the agile GRLC process during 2017. Our Asia-Pacific focus remained on implementation, working with Implementation Communities globally and within local markets such as London and In 2017, we built additional capability into the USA to drive usage of new and existing Standards. ACORD Asia-Pacific General Insurance XML Standard to support bundling of Life and General Version 2016-10 of the EBOT Standards & Guides was published Insurance coverage into one policy for members in April 2017. Updates to both the 2016-10 and 2015-04 versions servicing the Southeast Asian market. March saw are planned for 2018. Also, an updated version of the 2016-10 a Candidate Release of the Delegated Authority Reporting XML schema will take into account changes from the London projects Standard, with Risk Bound reporting extensions for Property, relating to Placing and Centralized Structured Data Capture. Casualty and Cyber Liability classes of business for coverholders reporting into the London market. In the coming year, we will continue to focus on driving increased usage of the Standards, feeding implementation experience At ACORD’s first regional event in 2 years, we partnered with R3 back into standards development, and leveraging the more to run a conference on “Insurance on the Blockchain.” The event, agile standards-setting process enabled by new tools such as sponsored by EY and hosted at their Sydney office, was attended Confluence. by almost 90 industry professionals.

The coming year will see additional classes of business (risk) Southern Africa added to the Asia-Pacific General Insurance XML Standard to bring it in line with the Delegated Authority Reporting Standard, The current version (2.3.0) of the AML Standard as well as the first changes to support Microservices and RESTful was predominantly developed for the personal implementation of our AML-based Standards. lines synch messages, and after many years of hard work, there was significant implementation of this message by both carriers and system providers alike in 2017. This ensured that ACORD is the standard of choice for the P&C market.

7 Australia & New Zealand

The first half of 2017 saw the program build Also, the Employee Benefit Implementation Community published out additional capability for claims lifecycle a draft Member Enrollment standard in October 2017. ACORD management into the ACORD Australia-New provided this unique asset to its member community, enabling Zealand Life XML Standard, adding support for carriers to receive member demographic and benefit enrollment additional fields within the Claim Lodgement messages, as well as data in a common format from group enrollment platforms. new messages supporting Claims Inquiry requests. The Standard improves service levels while optimizing costs by simplifying how insureds shop for, enroll in, manage and exchange The second half of 2017 saw the entry to the program of Link benefits. The final release for the Member Enrollment Standard is Group, our first Superannuation Funds Administrator. They on schedule for early 2018. bring invaluable influence with the region’s major life insurance companies, who will benefit from ACORD membership supporting integration into Link Group’s core platforms. Reference Architecture ACORD’s vision is to offer a comprehensive In 2018, the Standard will be enhanced to support a number of Reference Architecture for the insurance industry, member requests, including Illustration, Claims Synchronisation, covering various aspects of Business, Information Microservices, and RESTful implemenation. and Application Architecture. In 2017, we focused on both refining existing Architectural assets and incorporating Multi-Functional Standards upcoming Digital Standards.

Throughout 2017, we continued progress toward To maintain the relevance and value of our most widely used creating a lightweight, technology-agnostic model assets, we collected feedback and researched improvements which will be the basis for a new Digital Standard. to the existing Business Glossary, Information Model and Data Working deliverables were showcased at Model. As a result, these assets have been greatly refined, and ACORD2017 in Boston and made available for community usage updated versions will be released in 2018. ACORD will also and feedback; these include a canonical model, XSD and JSON continue enhancing the Reference Architecture to align with the schemas, and API specifications. This ambitious project has seen evolution and digitalization of our Standards, complemented by significant progress, and work will continue through 2018. member input and overall industry needs.

8 Standards & Architecture 2018 Priorities

In the coming year, our Standards will continue to We also recognize the opportunities to add value for our focus on progressive efficiency, effectiveness, and members by improving our existing XML models to satisfy the value creation for our members. We will continue digital demands for lightweight messaging and Microservices. to streamline the existing structures to focus on key priorities In 2018, ACORD will be focused on increasing the momentum which align with our members’ strategic imperatives and the across domains to provide Digital Standard deliverables (models, evolving demands of the industry across the value chain. schemas, APIs, etc.) for pilot testing and implementations.

ACORD will also be able to increase the pace of activities and engagement, using the new online collaboration tools that were deployed this year to all of our communities. This type of virtual workspace will enable flexibility - unrestricted by schedule limitations or geographical boundaries - to contribute feedback, submit requests or questions, and place votes.

We will also expand on initiatives which enable accelerated standards development and delivery to the industry. This includes exploring options to partner with members in new focus areas to assemble iterative frameworks which can be socialized and pressure-tested across groups, and engaging industry-leading members willing to contribute non-proprietary materials to be used as one input for developing new Standards.

Our team is able to quickly synthesize content, assemble a baseline, and jumpstart the feedback loop from respective domain members. ACORD and the industry have seen great success with this approach, most recently within the Employee Benefits sector for a new member enrollment standard.

9 THOUGHT LEADERSHIP

Building on the revitalization of ACORD’s Research & Throughout 2017, ACORD also conducted a Digital Customer Development arm in 2016, we focused this year on delivering Experience Survey in the U.K. personal lines market, assessing value across our membership through a regular output of data and over one thousand websites and collecting over ten thousand insights on business, technology, and strategy. individual impressions in order to evaluate the online experience delivered to customers. Full results of the P&C and Life value ACORD’s proprietary research was the basis for white papers creation studies and the Digital Customer Experience Survey will including The ACORD Insurance Digital Maturity Study, Robotic be released in 2018, along with a similar study on value creation Process Automation in Insurance, and Blockchain Technology in in the Workers’ Compensation field. the Insurance Industry. We also partnered with industry thought leaders to publish papers on topics such as innovation, big data, In addition to our flagship annual conference, ACORD also hosted and gender parity in the insurance industry. the third annual ACORD InsurTech Innovation Challenge, as well as several exclusive workshops and symposiums centered around ACORD CEO Bill Pieroni presented findings from our studies original research. ACORD is in a unique position to bring the on digitization, InsurTech spending, and other areas at nearly industry together to share ideas, providing actionable insights 20 industry conferences and individual sessions with ACORD which will enable our members to thrive now and in the future. members. This culminated at the ACORD2017 conference in October, where he delivered the results of two in-depth studies on value creation in the U.S. Property & Casualty and Global Life Insurance fields, examining the strategies and tactics common to those organizations which demonstrated sustained value creation.

10 BOARD OF DIRECTORS

J. Spero Zacharias Tony Mattioli Barbara Koster Alessandro Iuppa Bill Pieroni ACORD Board Chair ACORD Board Vice-Chair ACORD Audit Chair ACORD Finance Chair President & CEO, SVP, Chubb CIO, AssuredPartners, Inc. SVP & CIO, Prudential Founder & Principal, ACORD Financial Global Insurance Perspectives

John Artesani Christoph Carus Mark Cook Joe Dainty Mark Esposito Sue Figueredo John Kellington EVP & COO, Lexington Head of Central Global Chief Global Head of SVP & CIO, The SVP, Business SVP & CIO, Cincinnati Insurance Company Division, Munich Re Information Officer, Operations, Lloyd’s of Hartford Financial Insurance Operations, Financial Corporation Marsh London Services Group, Inc. Travelers

Robert Kelly Mark Knipfer John Leonard Dennis Mahoney Christof Mascher Dave Matcham Gray Nester Managing Director & COO, Zurich North President Emeritus, Executive Chairman, Member of the Board CEO, International ADS Insurance CEO, Steadfast Group America MEMIC RFIB of Management & Underwriting Business Information Limited COO, Allianz SE Association of London Officer/SVP, BB&T

Robert Rusbuldt Markus Schmid Richard Schuyler Christopher Smith Dexter S. Umekubo Conor Whelan Carol Zacharias President & CEO, Head Group AON Chief Information EVP & Head of Global Sr. Managing Partner, Chief Information SVP, Underwriting IIABA Information Technology Officer, Business Operations, MetLife Producers XL Officer, JLT Group Counsel, QBE Board Member, Swiss Re Technology Solutions, AON

11 PARTICIPANT LIST

Carriers, Reinsurers, Agents, Brokers, & Financial Services

Abacus Insurance Brokers, Inc. American Family Life Assurance Australian Administration Celina Insurance Group Company of America (Aflac) ABI Business Insurance Services, Inc. Services (AAS)/Link Group Central Insurance Companies American Fidelity Assurance Abram Interstate Insurance Company Auto & General Insurance Century Insurance Group Services, Inc. American Insurance Acquisition, Inc. Auto-Owners Insurance Chesapeake Employers’ ACCC Insurance Company Insurance Company American Risk Insurance BB&T Insurance Holdings, Inc. Accident Fund Group Chubb Americas Insurance Company Bollinger Insurance, Inc. ACUITY The Cincinnati Insurance Company Americo Life Group Braishfield Associates AEGON USA Group Cincinnati Life Insurance Amerisafe Insurance Group The Brethren Mutual Insurance Ag Risk Insurance, Inc. Company Civil Service Employees Group Amerisure Mutual Holdings, Inc. AIG Brotherhood Mutual Insurance CNA Insurance Companies Ameritas Life Insurance Corporation Company AIG Life & Retirement Group Coastal Insurance Underwriters, Inc. AMP Services, Ltd. Buckeye Insurance Group Alamance Farmers Mutual Cochrane & Company Insurance Group Andover Companies Builders & Tradesmen’s Insurance Services, Inc. The Colonial Group, Inc. Alfa Insurance Group Antares Underwriting Services, Ltd. Burns & Wilcox, Ltd. Columbia Insurance Group Alliance United Insurance Company AON Service Corporation California Earthquake Authority Combined Group Insurance Allianz Global Risk US Insurance Appalachian Underwriters, Inc. Services, Inc. Company California Mutual Insurance Arbella Insurance Group Company Commercial Insurance Group, LLC. Allianz Life Insurance Company of North America Arrowhead General Insurance Cameron Mutual Insurance Commonwealth Bank Agency Company Allied Specialty Insurance, Inc. CompSource Mutual Ascendant Underwriters, LLC. Capital Insurance Group Allstar Underwriters, Inc. Consumer United, Inc. Assured Partners Capitol Indemnity Corporation American Compensation Co-operative Insurance Company Insurance Company Assurity Life Insurance Company Casualty Underwriters Insurance Company Cornerstone National Insurance American Equity Investment Life Auburn Insurance Agency, Inc. Group Insurance Company

12 Carriers, Reinsurers, Agents, Brokers, & Financial Services

Couch Braunsdorf Global Indemnity Group The Heffernan Group Cumberland Insurance Group Fairfax Financial Companies Goodville Mutual Casualty Company Higginbotham CUNA Mutual Group Farm Bureau P&C Group Graham Rogers, Inc. Hingham Mutual Fire Insurance Cypress Group Holdings, Inc. Farmers Mutual Insurance Agency Grange Mutual Casualty Group Hochheim Prairie Group Cypress Property & Casualty Farmers Mutual Insurance Great American Group Holborn Corporation Insurance Company Company of Nebraska Great Northwest Insurance The Hollard Insurance Company, Ltd. Cypress Texas Insurance Company FBL Financial Group, Inc. Company Housing Authority Insurance Group Diversified Commercial Insurers FCCI Insurance Group Great West Casualty Company Hyperion Insurance Group, Ltd. Diversified Risk Solutions, LLC. First American Corporation Greyhawk Insurance Company Property & Casualty Companies IDS Property Casualty Insurance The Doctors Company Grinnell Mutual Reinsurance Company First Choice Insurance Intermediaries Company Donegal Group Mutual Life Insurance 5Star Specialty Programs Guardian Life Insurance Company Dongbu Insurance Company, Ltd. USB Frank Cowan Company, Ltd. GuideOne Insurance Group IMT Insurance Company Dryden Mutual Insurance Company Frankenmuth Insurance Gulfstream Property and Indium Casualty Insurance Company Embroker Franklin Mutual Group Insureon Hallmark Insurance Group EMC Insurance Companies Frederick Mutual Insurance Group Iroquois Group, Inc. Hannover Rück SE Employers Insurance Group Fremont Insurance Company iSurity The Hanover Insurance Group Encompass Group Gard Marine & Energy, Ltd. Jackson National Life Insurance Hart Re Group Company Endurance Assurance Corporation General Re Corporation The Hartford Insurance Group Jaeger & Haines, Inc. Endurance Worldwide Insurance, Germania Mutual Group Ltd. Hartford Life Group Jardine Lloyd Thompson Group PLC The Glatfelter Agency Energi Insurance Hastings Mutual Insurance Johnson & Johnson, Inc. Global Aerospace Underwriting Enumclaw Insurance Group Managers Hawaii Employers Mutual Jones & Wenner

13 Carriers, Reinsurers, Agents, Brokers, & Financial Services

Kapnick & Company, Inc. Merchants Insurance Group National General Companies Palisades Group Kemper Property and Casualty Merrill Lynch Insurance Group National Reinsurance Pan-American Life Group Group Corporation of the Philippines MetLife, Inc. PartnerRe US Group KPMG International Nationwide Insurance Michigan Millers Mutual Pearl Insurance Group, LLC. Leavitt Group Enterprises Insurance Company New Mexico Mutual Group Pekin Insurance Group Liberty Mutual Agency Corporation Middlesex Mutual and Holyoke Life Group Penn National Insurance Lincoln Financial Group Mutual Next-Insurance Lumbermens Lloyd’s Midlands Management Corporation NIAC - Nonprofits’ Insurance Mutual Insurance Company Alliance of California Lockton Company Millville Mutual Insurance Permanent General Insurance Companies Nicholas Hill Group, Inc. Corporation Loudoun Mutual Insurance Company MiniCo Insurance Agency, LLC. The Norfolk & Dedham Group Philadelphia Contributionship Group M Financial Group MMG Insurance Company Normandy Insurance Company Pioneer State Mutual Insurance M.J. Kelly Company Company Morgan Stanley Northbridge Financial Corporation Main Street America Group Rock Companies Morstan General Agency Northwest G F Mutual Manulife Financial Preferred Mutual Insurance Motorists Insurance Group NYCM Insurance Group Company MAPFRE North America Group Mountain States Insurance Group NYSIF Price Forbes & Partners Marsh, Inc. MS Frontier Reinsurance, Ltd. Mutual Insurance Group Principal Life Group Marysville Mutual Münchener Rückversicherungs- Oklahoma Farm Bureau Group Professional Program Insurance MassMutual Financial Group Gesellschaft AG Brokerage Old Mutual Insure, Ltd. Maxum Specialty Insurance Group Mutual Benefit Group Progressive Group Oregon Mutual Insurance Company McDonald Insurance Agency Mutual of Omaha Prudential Financial Outdoor Underwriters MEMIC Group Myron F Steves & Company QBE International Group Pacific Life Group Mennonite Mutual Insurance Nassau Reinsurance Group Quincy Mutual Group Company Pacific Specialty Insurance Group

14 Carriers, Reinsurers, Agents, Brokers, & Financial Services

R&Q Investment Holdings, Ltd. Special Risks, Ltd. Group Viking Insurance Company of RFIB Group, Ltd. Specialty Insurance Agency Topdanmark EDB A/S VOYA RIC Insurance General Agency Specialty Programs & Facilities Torchmark Corporation Managers, Inc. The W H Brownyard Corporation Risk Insurance Services Tower Hill Insurance Group, LLC. Spinnaker Insurance Company W R Berkley Corporation RVOS Farmers Mutual Group Transatlantic Reinsurance Standard Bank W.A. Schickedanz Agency, Inc. Safehold Special Risk, Inc. The Travelers Companies, Inc. Casualty Insurance Wells Fargo Bank N.A. Safety Group Trident Insurance Services, LLC State Auto Insurance Companies West Bend Mutual Group SAN Group Trust Risk Management Services, Inc. State Farm Group WESTCAP Insurance Services Santam, Ltd. Turrentine Insurance Agency, Inc. Steadfast Group, Ltd. Western Mutual Insurance Group SCOR Group Tuscarora-Wayne Group Steinhoff Risk Solutions Western National Insurance Group SeaCoast Underwriters, Inc. Union Mutual of Vermont Sterling Insurance Company Companies Western Reserve Pool SECURA Insurance Companies Stillwater Insurance Group United Fire & Casualty Group Westfield Group Selective Insurance Company of America Stonetrust Commercial Insurance United Heritage Property & WestGUARD Insurance Company Company Casualty Group Self Insured Solutions Willis Towers Watson Swiss Re Management, Ltd. Universal Insurance Company of Sentry Select Insurance Company Puerto Rico Wisconsin Mutual Insurance TAL Services, Ltd. Company Service First Insurance Group, LLC. Universal Life Insurance Company Technology Insurance Associates Wolverine Mutual Insurance Service LLoyds Insurance Company US Assure Company Texas Mutual Insurance Company SFM Mutual Insurance Companies Utica First Insurance Company Woodruff-Sawyer & Company Thaxton & Associates Shelters Insurance Companies Utica National Insurance Group XLCatlin Reinsurance Thrivent Financial for Lutherans Shield Commercial Insurance Verifly Insurance Services, Inc. Zurich Insurance Group - NA Services, Inc. TigerRisk Partners Vermont Mutual Group Skyles Insurance Agency

15 Solution Providers

Accenture DOCOsoft, Ltd. Insurify Send Technology Solutions ACORD Solutions Group DTCC Insurity, Inc. Sentry IMS Advantage Information Systems, Inc. DXC Technology Intellect Design Arena, Inc. Sequel Business Solutions, Ltd. Agency Computer Systems, Inc. eBaoTech, Inc. Intelledox Silvervine Agency Insurance Services U.S. Inc. Ebix, Inc. Intruity Corporation Sooks and Pebbs Pty, Ltd. Agency Integration Systems, Inc. eBridge, Inc. Intuitive Web Solutions Sphera Solutions Agency Matrix, LLC. EMSI iPipeline StoneRiver Agency Software, Inc. , Ltd. iXledger, Ltd. Strategic Insurance Software, LLC. Agency Systems Etherisc GmbH JDX Inserve, Ltd. Stripe Global Services, Ltd. American Para Professional Systems, Inc. Eurobase Knowledgemill, Ltd. Superior Access Insurance Services, Inc. Annuity Knowledge Systems, LLC. Evolution Agency Management, LLC. L&T Infotech Surematics Applied Systems, Inc. ExamOne, A Quest Diagnostics LexisNexis Synechron, Inc. Appulate, Inc. Subsidiary Lineslip Solutions, Inc. Tata Consultancy Services Assurance Systems, Inc. Exari, Ltd. LTCG (Long Term Care Group, Inc.) Tech Mahindra, Ltd. ASTUTE Financial Services Exchange EZLYNX by Webcetera LP Majesco TechCanary Benefitfocus Fiduciary Exchange, LLC. Marsh ClearSight (CS Stars) TIW Group, Ltd. Blocksure, Ltd. FINEOS Corporation MIB Group, Inc. Tower IQ Boston Software Corporation Focus Technologies, LLC. Mindtree Trace Isys, Ltd. Broker Buddha GENPACT India Pvt, Ltd. MRLN, Inc. Tremor Technologies, Inc. Capgemini Gratex International MSG Systems AG TribeAML, Inc. Captricity Groundspeed Analytics, Inc. NIIT Insurance Technologies, Ltd. Two Sigma Insurance Quantified Catex Guidewire Software, Inc. Nissay Information Technology Vallue Consulting, Inc. CGI Technologies and Solutions, Inc. HawkSoft, Inc. North American Software Associates ValueMomentum, Inc. Chainthat, Ltd. Hi Marley, Inc. One, Inc. Verisk Analytics Charles Taylor Insure Tech I2S INFORMATICA - SISTEMAS E Oracle Corporation Vertafore, Inc. SERVIÇOS, SA. Chinook Management Systems, LLC. Pegasystems, Inc. Veruna, LLC. I-Engineering.com, Inc. Cignium Technologies Penguin Creek VLink, Inc. Indio Technologies, Inc. Clinical Reference Laboratory PilotFish Technology Vlocity, Inc. Insurance Automation Group Cloverleaf Analytics, Inc. Proformex VTX, LLC. Insurance Technologies CodeObjects Quomation Insurance Services, Inc. WatchTower Insurance Technologies Corporation Cognizant QuotePro Wave Insurance Technologies AVYST InsuranceCONNECT Pty, Ltd. Combined Computer Services B.V. r10 Consulting LLP Web Connectivity, Ltd. Insurancelabs, LLC. Covr Financial Technologies Resource Pro, LLC. Xchanging Ins-sure Services, Ltd. InsureScan Deloitte Consulting Security Federal Premium Pay Plans XDimensional Technologies, Inc.

16 Associations & Others

AAIS - American Association of Insurance IFX Forum, Inc. - Interactive Financial RIMS - The Risk & Insurance Management Services Society eXchange Forum AAMGA - American Association of Managing SFAA - The Surety & Fidelity Association of General Agents IIABA - Independent Insurance Agents & America Brokers of America AIPSO - Automobile Insurance Plans Service The South African Insurance Association Office IRI - Insured Retirement Institute TMEL - The Message Exchange Limited CIAB - Council of Insurance Agents & IRLA - Insurance and Reinsurance Legacy Brokers Association Underwriters Rating Board

CIECA - Collision Industry Electronic IUA - International Underwriting Washington Surveying & Rating Bureau Commerce Association Associations XBRL International, Inc. CIECA - Collision Industry Electronic Lloyd’s Market Association Commerce Association NAILBA - National Association of CLIEDIS - The Canadian Life Insurance Independent Life Brokerage Agencies Standards Association NAPSLO - National Association of Commonwealth Automobile Reinsurers Professional Surplus Lines Offices, Ltd.

CSIO - Centre for Study of Insurance NASBP - National Association of Surety Operations Bond Producers

HR Open Standards Consortium NCCI - National Council of Compensation Insurance IAIABC - International Association of Industrial Accident Boards and Commissions NIPR - National Insurance Producer Registry

Idaho Surveying & Rating Bureau OMG - Object Management Group

IDMA, Inc. - Insurance Data Management PIA National - Professional Insurance Agents Association Reinsurance Administration Professionals Association

17 Forms Pool

AAA of Carolina Group BrickStreet Mutual Insurance Fairfax Financial Companies Forestry Mutual Insurance ACUITY Brotherhood Mutual Insurance Farm Bureau Insurance Company Group AEGIS Limited Company Farm Bureau Mutual of Idaho Fortegra P&C Affinity Mutual Insurance Builders Insurance Group Farm Bureau P&C Group Franciscan Alliance Alamance Farmers Mut Ins Gp Builders Mutual Insurance Group Farm Family Insurance Group FRSA Self Insurers Fund Alaska National Insurance California Casualty Group Farmer Mutual Insurance Germania Mutual Group Alfa Insurance Group CAMICO Mutual Insurance Company of Noble County Germantown Mutual Insurance Company Alleghany Insurance Holdings Farmers &Merch Mutual Fire Grace Indemnity Company, Ltd. Canal Group Allianz Global Risk US Insurance Farmers Alliance Companies Granada Insurance Company Company Caterpillar Insurance Group Farmers Fire Insurance Grange Insurance Group American Family Insurance Group Chesapeake Employers’ Companies of Pennsylvania The Gray Insurance Company Insurance Company American Millennium Insurance Farmers Insurance Company of Greater New York Group Church Mutual Insurance Flemington Company Great-West Life Group Amerisafe Insurance Group CIS Insurance Group Farmers Mutual Insurance of West Harford Mutual Insurance Amerisure Mutual Holdings, Inc. Colorado Farm Bureau Mutual Companies Farmers Union Mutual of North AmTrust Group Compensation Rating and HIIG Group Inspection Bureau of NJ Dakota Arbella Insurance Group Hiscox USA Group Conifer Insurance Company Farmers Union Mutual Argonaut Group Hochheim Prairie Group ConocoPhillips Company FBAlliance Insurance Company AT&T Services, Inc. Hyundai Marine & Fire Insurance Cook Children’s Indemnity Company Federated Mutual Group Attorneys Insurance Mutual of FFVA Mutual Insurance Company ICW Group the South, Inc. CopperPoint Mutual Insurance Company FHM Insurance Company Idaho State Insurance Fund Autoteam, Inc. Countryway Insurance Company First Benefits Insurance Mutual IFG Companies AXIS Insurance Group Cumberland Insurance Group First Chicago Insurance Company Illinois Casualty Company Baldwin & Lyons Group De Smet Farm Mutual Florida Specialty Insurance Illinois FAIR Plan Banner Indemnity, Ltd. Eastern Alliance Insurance Group Company Farmers Mutual Barnstable Group Elephant Insurance Co Florida United Businesses Infinity Casualty Insurance Company Barton Mutual Insurance Association Encompass Group Insurors Indemnity Group Bear River Mutual Insurance Florida Workers Compensation Integrand Assurance Company Company Erie Insurance Group Joint Underwriting Association Everest Reinsurance Group Joint Insurance Association (FAIR Briar Creek Mutual Insurance FMH Insurance Group Plan) Company Exxon Mobil Risk Management Inc

18 Forms Pool

Juniata Mutual Insurance Münchener Rückversicherungs- Prepared Insurance Company State Compensation Insurance Farm Bureau Group Gesellschaft AG Progressive Group Fund of California Kentucky National Insurance Group Narragansett Bay Insurance Providence Mutual Group STICO Mutual Insurance Company Company, RRG. Kingstone Insurance Company Qure Assurance, Ltd. National American Insurance Stillwater Insurance Group LA Home Builders Self Insurers RAM Mutual Insurance Group National Fire & Indemnity Exchange Sutter Insurance Group Lackawanna Insurance Group Red Shield Insurance Company Nazareth Mutual Insurance Swiss Re Management, Ltd. Lexon Bond Group Republic Western Insurance Neptune Flood Symetra Life Group Little Black Mutual Insurance Group Group (REPWEST) New York Marine Group T. H. E. Insurance Company Louisiana Workers Risk Management Resources Inc Compensation Corporation New York Property Insurance RLI Group TASB Risk Management Fund Underwriters Association Lousiana Pest Control Insurance Rockford Mutual Texas Mutual Insurance Company (LPCIC) NJSIG (New Jersey School Company Insurance Group) Rockingham Group LUBA Insurance Group TML Risk Management Pool NLC Insurance Companies Rural Mutual Insurance Company MAPFRE PRAICO Insurance Group Transit General Insurance Nodak Mutual Group SafePoint Insurance Company Markel Corporation Group North Star Companies Group Safety Group The Triangle Companies McM Corporation Group Northern Mutual Insurance Safety National Casualty Underwriters Rating Board & Meadowbrook Insurance Group Company Corporation Affiliated Companies MEMIC Group Northern Neck Insurance Company SAIF Corporation United Farm Bureau of IN Group General Group Ohio Bureau of Workers SC Home Builders Self Insurers Fund Universal Insurance Holdings Inc Middleton Insurance Company Compensation Sentry Group UPMC Midwest Family Mutual OneBeacon Insurance Group Sentry Select Insurance Company Utah Local Government Trust Millers Mutual Group Oregon Dental Services Group Service LLoyds Insurance Company W R Berkley Corporation Group Minnesota Joint Underwriting Oriska Insurance Company Shelter Insurance Companies The Warranty Group Association Pharmacists Mutual Insurance Society Group Wayne Mutual Insurance Missouri Employers Mutual Ins Piedmont Mutual Insurance Company Group Sompo Holdings US Group Company WCF Insurance Group Missouri Valley Mutual Southern Farm Bureau Group Pinnacol Assurance Wisconsin Municipal MLMIC Group Southern Mutual Church Plymouth Rock Companies Insurance Company Wisconsin Reinsurance Group Mount Carroll Mutual Fire The PMA Capital Insurance Group Insurance Company Southern Trust Insurance Company XL CatlinAmerica Group Preferred Professional Insurance Zenith National Insurance Group Company

19 Forms Redistribution

Abacus Insurance Brokers, Inc. The Colonial Group, Inc. International Risk Management Institute Sentry IMS ABI Business Insurance Services, Inc. Combined Group Insurance Services, Inc. Intruity Corporation Service First Insurance Group, LLC. Abram Interstate Insurance Services, Inc. Commercial Insurance Group, LLC. Iroquois Group, Inc. Shield Commercial Insurance Services, Inc. Advantage Information Systems, Inc. Couch Braunsdorf Jaeger & Haines, Inc. Silverlake Software, LLC. Ag Risk Insurance, Inc. Diversified Commercial Insurers Johnson & Johnson, Inc. Skyles Insurance Agency Agency Business Systems, Inc. Diversified Risk Solutions, LLC. Kapnick & Company, Inc. Special Agent Agency Computer Systems, Inc. The Doctors Company Leavitt Group Enterprises Special Risks, Ltd. Agency Matrix, LLC. Duck Creek Technologies, LLC. Lineslip Solutions, Inc. Specialty Insurance Agency Agency Software, Inc. Ebix, Inc. Lockton Company Specialty Programs & Facilities Managers, Inc. Agency Systems eBridge, Inc. M.J. Kelly Company Steinhoff Risk Solutions Allied Specialty Insurance, Inc. Energi Insurance Majesco Strategic Insurance Software, LLC. Allstar Underwriters, Inc. Evolution Agency Management, LLC. Marsh ClearSight (CS Stars) Superior Access Insurance Services, Inc. AON Service Corporation Exigis, LLC. McDonald Insurance Agency Symmetry Technology Labs, Inc. Appalachian Underwriters, Inc. EZLYNX by Webcetera LP Midlands Management Corporation TechCanary Applied Systems, Inc. Farmers Mutual Insurance Agency MiniCo Insurance Agency, LLC. Technology Insurance Associates Appulate, Inc. FergTech, Inc. Morstan General Agency Thaxton & Associates Arrowhead General Insurance Agency First Choice Insurance Intermediaries Myron F Steves & Company Time Warner Ascendant Underwriters, LLC. FirstBest Next-Insurance Tower Hill Insurance Group, LLC. Assurance Systems, Inc. 5Star Specialty Programs Nicholas Hill Group, Inc. Trident Insurance Services, LLC Atlatl Focus Technologies, LLC. North American Software Associates Trust Risk Management Services, Inc. Auburn Insurance Agency, Inc. GBS, Inc. NowCerts, LLC. ValueMomentum, Inc. BB&T Insurance Holdings, Inc. The Glatfelter Agency Outdoor Underwriters Verifly Insurance Services, Inc. Bollinger Insurance, Inc. Global Aerospace Underwriting Managers Pearl Insurance Group, LLC. Vertafore, Inc. Boston Software Corporation Graham Rogers, Inc. PIA National - Professional Insurance Agents Veruna, LLC. Braishfield Associates HawkSoft, Inc. Policy Works, Inc. VRC Insurance Systems BritAmerica, Inc. The Heffernan Group Professional Program Insurance Brokerage The W H Brownyard Corporation Builders & Tradesmen’s Insurance Higginbotham Quikfuzion W.A. Schickedanz Agency, Inc. Services, Inc. Hoffman Computer Systems Quomation Insurance Services, Inc. Wave Insurance Technologies AVYST Burns & Wilcox, Ltd. IBQ Systems RIC Insurance General Agency WCIO - Workers Compensation Certificate Exchange I-Engineering.com, Inc. Risk Insurance Services Insurance Organizations CGI Technologies and Solutions, Inc. Impressive Publishing Risk Toolbox, Inc. Wells Fargo Bank N.A. Chinook Management Systems, LLC. Indium Safehold Special Risk, Inc. WESTCAP Insurance Services Choices Software, Inc. Insurance Technologies Corporation SAN Group Wolters Kluwer Financial Services City of Los Angeles Insurance Visions, Inc. SeaCoast Underwriters, Inc. Woodruff-Sawyer & Company Coastal Insurance Underwriters, Inc. Insureon Security Federal Premium Pay Plans XDimensional Technologies, Inc. Cochrane & Company Insurity, Inc. Self Insured Solutions

20 Reference Architecture Subscribers

ACCC Insurance Company Auto-Owners Insurance Dongbu Insurance Company, Ltd. USB Grinnell Mutual Reinsurance Company Accident Fund Group The Brethren Mutual Insurance Company Embroker Guardian Life Insurance ACUITY Brotherhood Mutual Insurance Company EMC Insurance Companies GuideOne Insurance Group AEGON USA Group Buckeye Insurance Group Employers Insurance Group Gulfstream Property and Casualty Insurance Company AIG California Earthquake Authority Encompass Group Hallmark Insurance Group AIG Life & Retirement Group California Mutual Insurance Company Endurance Assurance Corporation Hannover Rück SE Alfa Insurance Group Cameron Mutual Insurance Company Endurance Worldwide Insurance, Ltd. The Hanover Insurance Group Alliance United Insurance Company Capital Insurance Group Enumclaw Insurance Group Hart Re Group Allianz Global Risk US Insurance Company Capitol Indemnity Corporation Erie Insurance Group The Hartford Insurance Group Allianz Life Insurance Company of North Casualty Underwriters Insurance Company Farm Bureau P&C Group America Hartford Life Group Celina Insurance Group Farmers Mutual Insurance Company of American Compensation Insurance Company Nebraska Hastings Mutual Insurance Central Insurance Companies American Equity Investment Life FBL Financial Group, Inc. Hawaii Employers Mutual Insurance Company Century Insurance Group FCCI Insurance Group Hingham Mutual Fire Insurance American Family Life Assurance Chesapeake Employers’ Insurance Company Company of America (Aflac) First American Corporation Property & Hochheim Prairie Group Chubb Casualty Companies American Fidelity Assurance Company Holborn Corporation The Cincinnati Insurance Company Frank Cowan Company, Ltd. American Insurance Acquisition, Inc. The Hollard Insurance Company, Ltd. Cincinnati Life Insurance Frankenmuth Insurance American Risk Insurance Housing Authority Insurance Group Citizens Property Insurance Corporation Franklin Mutual Group Americas Insurance Company Hyperion Insurance Group, Ltd. Civil Service Employees Group Frederick Mutual Insurance Group Americo Life Group IDS Property Casualty Insurance Company CNA Insurance Companies Fremont Insurance Company Amerisafe Insurance Group Illinois Mutual Life Insurance Company Columbia Insurance Group Gard Marine & Energy, Ltd. Amerisure Mutual Holdings, Inc. IMT Insurance Company CompSource Mutual General Re Corporation Ameritas Life Insurance Corporation iSurity Consumer United, Inc. Germania Mutual Group AMP Services, Ltd. Jackson National Life Insurance Company Co-operative Insurance Company Global Indemnity Group Andover Companies Jardine Lloyd Thompson Group PLC Cornerstone National Insurance Group Goodville Mutual Casualty Company Antares Underwriting Services, Ltd. Kemper Property and Casualty Group Cumberland Insurance Group Grange Mutual Casualty Group AON Service Corporation Liberty Mutual Agency Corporation CUNA Mutual Group Great American Group Arbella Insurance Group Lincoln Financial Group Cypress Group Holdings, Inc. Great Northwest Insurance Company Assured Partners Lloyd’s Deloitte Consulting Great West Casualty Company Loudoun Mutual Insurance Company Assurity Life Insurance Company Donegal Group

21 Reference Architecture Subscribers

M Financial Group Nationwide Insurance Progressive Group TigerRisk Partners Main Street America Group New Mexico Mutual Group Prudential Financial Tokio Marine Group Manulife Financial New York Life Group QBE International Group Topdanmark EDB A/S MAPFRE North America Group NIAC - Nonprofits’ Insurance Alliance of Quincy Mutual Group Torchmark Corporation California Markel Corporation Group R&Q Investment Holdings, Ltd. Tower Hill Insurance Group, LLC. The Norfolk & Dedham Group Marsh, Inc. RFIB Group, Ltd. Transatlantic Reinsurance Northbridge Financial Corporation Marysville Mutual RVOS Farmers Mutual Group The Travelers Companies, Inc. Northwest G F Mutual MassMutual Financial Group Safety Group Tuscarora-Wayne Group NYCM Insurance Group Maxum Specialty Insurance Group Santam, Ltd. Union Mutual of Vermont Companies Ohio Mutual Insurance Group MEMIC Group SCOR Group United Fire & Casualty Group Oklahoma Farm Bureau Group Mennonite Mutual Insurance Company SECURA Insurance Companies United Heritage Property & Casualty Group Old Mutual Insure, Ltd. Merchants Insurance Group Selective Insurance Company of America Universal Insurance Company of Puerto Rico Oregon Mutual Insurance Company Merrill Lynch Insurance Group Sentry Select Insurance Company US Assure Pacific Life Group MetLife, Inc. Service LLoyds Insurance Company Utica First Insurance Company Pacific Specialty Insurance Group Michigan Millers Mutual Insurance Company SFM Mutual Insurance Companies Utica National Insurance Group Palisades Group Middlesex Mutual and Holyoke Mutual Shelters Insurance Companies Vermont Mutual Group Pan-American Life Group Millville Mutual Insurance Companies Spinnaker Insurance Company Viking Insurance Company of Wisconsin PartnerRe US Group MMG Insurance Company Standard Bank VOYA Pekin Insurance Group Morgan Stanley Star Casualty Insurance W R Berkley Corporation Penn National Insurance Motorists Insurance Group State Auto Insurance Companies Wells Fargo Bank N.A. Pennsylvania Lumbermens Mutual Mountain States Insurance Group Insurance Company State Farm Group West Bend Mutual Group MS Frontier Reinsurance, Ltd. Permanent General Insurance Steadfast Group, Ltd. Western National Insurance Group Münchener Rückversicherungs- Corporation Sterling Insurance Company Western Reserve Pool Gesellschaft AG Philadelphia Contributionship Group Stillwater Insurance Group Westfield Group Mutual Benefit Group Pioneer State Mutual Insurance Company Stonetrust Commercial Insurance Company Willis Towers Watson Mutual of Omaha Plymouth Rock Companies Swiss Re Management, Ltd. Wisconsin Mutual Insurance Company Nassau Reinsurance Group Preferred Mutual Insurance Company TAL Services, Ltd. Wolverine Mutual Insurance Company National General Companies Price Forbes & Partners Texas Mutual Insurance Company XLCatlin Reinsurance National Reinsurance Corporation of the Principal Life Group Philippines Thrivent Financial for Lutherans Zurich Insurance Group - NA

22 FROM THE CHAIRMAN

“From the time of our founding, developing and implementing Standards which promote operational excellence and efficiency across the insurance industry’s value chain has been core to our mission.

At the time, standards were in and of themselves an innovation. Today, ACORD continues to be at the forefront of innovation not only by developing Standards and actively promoting their implementation to strengthen the industry’s competitiveness, but also by promoting innovation through the sponsorship of competitions and thought leadership events that motivate and inspire our industry’s future leaders to outperform.

As Board Chairman, I’m delighted with the leadership role ACORD is playing in this regard and with the great support we provide to member organizations. Our Board members continue to be actively engaged in supporting ACORD’s mission and are equally enthused with the progress we’re making in supporting and inspiring insurance industry innovation.” Spero Zacharias with the contestants from Insurance Agent App, J. Spero Zacharias, Chubb the winning Startup Disruptor entry in the 2017 ACORD InsurTech Chair, ACORD Board of Directors Innovation Challenge.

23 www.acord.org [email protected]

(845) 620-1700

1 Blue Hill Plaza, 15th Floor, Pearl River, NY 10965