Executive Summary (This is a document excerpt)

IBM's donation of Insurance Application Architecture (IAA) process models and a data dictionary to ACORD will have a significant impact on the insurance industry. However, these models still require vetting by ACORD's members, implementations by software and services companies, and acceptance by insurers that are focused on solving immediate problems. Given IAA's limited success to date and the ambivalence of insurers to standardized business processes, widespread implementation of ACORD processes is at least two years away. Once this occurs, however, the industry will gradually change as the elements of the insurance value chain will be uncoupled and business processes will be sourced from internal and external providers based on objective criteria.

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