ACORD

What ACORD does

ACORD is a global nonprofit standards-setting body for the insurance industry, founded in 1975 and headquartered in the New York metro area (Little Falls, NJ) with a UK regional office in London. The organization develops and maintains electronic data exchange standards (GRLC for reinsurance/large commercial, NGDS for next-generation digital/APIs, P&C XML, L&A XML) and standardized insurance forms, serving 36,000 participating organizations worldwide and processing 275 million message transactions annually across carriers, brokers, reinsurers, and solution providers.

ACORD operates through two divisions: the standards body (membership, forms, research, events) and ACORD Solutions Group, a wholly-owned commercial subsidiary delivering digital infrastructure products including ADEPT (data exchange platform and translator), ACORD Transcriber (AI-driven intelligent document processing with claimed 98%+ accuracy), ACORD Conductor (message orchestration for GRLC), and ACORD Converter (data transformation). The product portfolio is increasingly differentiated by MCP-enabled architecture making the solutions agent-ready for AI-driven insurance workflows, and an automated AI-enabled sanctions screening service. Distribution is multi-channel: membership programs, the self-serve ACORD Forms Portal, the Advantage Plus subscription ($259/year, $199 for Big 'I'/PIA members), enterprise field sales via ASG, and a Licensed Integrator Partner network (Guidewire, Duck Creek, Verisk, DXC, CGI, EBIX, AdvantageGo).

Revenue is generated through membership fees, forms subscriptions, enterprise licensing and implementation services for ASG products, conference/event sponsorships, and research product sales. ACORD has strategic alliances with major industry associations (Lloyd's, LMA, CIAB, IIABA, WSIA, PIA, CSIO, AUGIE) and integrator partners; its 2026 Inter-Association Advisory Council signals a deliberate move to consolidate governance influence across the North American P&C value chain while the London Market campaign targets full digitalization of trading workflows by end of 2026.

Name

ACORD

Legal name

ACORD Corporation

Website

https://acord.org

Company type

Private

Founded year

1975

Operating status

Operating

Headcount range

101–250 employees

Short description

ACORD is a global nonprofit standards-setting body for the insurance industry, providing data exchange standards, standardized forms, and digital solutions through its ACORD Solutions Group subsidiary to insurers, brokers, and reinsurers across 36,000 participating organizations worldwide.

Ownership category

akta.pro rank

Headquarters

HQ city

Pearl River

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Membership Programs: ACORD operates as a membership-based organization. Members pay annual fees to access ACORD Data Standards, participate in standards development, access forms, and receive member benefits. The Advantage Plus program provides forms access for small agencies at $259/year (or $199 for Big I/PIA members).
2. ACORD Solutions Group Products & Services: ACORD Solutions Group sells digital solutions including ADEPT, ACORD Transcriber, ACORD Conductor, and ACORD Converter to insurers, reinsurers, brokers, and solution providers. Revenue generated through licensing, implementation services, and transaction-based models.
3. Research & Education: ACORD publishes research studies (Digital Maturity Study, M&A studies, Value Creation Studies) and provides training/education programs including ACORD Certified Expert (ACE) certification. Many research products are free to members; some premium reports available for purchase.
4. Events & Conferences: ACORD Connect is the flagship annual conference. Members receive free or discounted tickets. Revenue generated through registration fees, sponsorships, and exhibition revenue.
5. Advantage Plus Forms Subscription: Annual subscription program for small agencies and brokers providing access to ACORD Forms. Standard rate $259/year, discounted rate $199/year for members of Big I or PIA. Limited to agency-groups with revenue at or below $1 million per year.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels8 records

Core offering

ACORD is a global not-for-profit standards-setting body that develops electronic data standards, standardized forms, and digital solutions for the insurance industry. Through its ACORD Solutions Group subsidiary, it commercializes platforms including ADEPT for real-time data exchange, ACORD Transcriber for AI-driven document processing, ACORD Conductor for message orchestration, and ACORD Converter for data transformation.

Product overview

ACORD is a global standards-setting body for the insurance industry that provides data standards, standardized forms, and digital solutions to facilitate fast, accurate data exchange across the insurance ecosystem. The organization operates through two primary divisions: ACORD (standards body) and ACORD Solutions Group (digital solutions subsidiary). The digital solutions portfolio comprises four core products: ADEPT (ACORD Data Exchange Platform & Translator) for real-time data exchange and trading partner connectivity; ACORD Transcriber for AI-driven intelligent document processing; ACORD Conductor for GRLC message orchestration; and ACORD Converter for data transformation and straight-through processing. Supporting products include ACORD Forms (industry-standard forms), ACORD NGDS (Next-Generation Digital Standards for APIs and microservices), and ACORD GRLC Standards (for reinsurance and large commercial transactions). The Advantage Plus subscription program provides affordable form access for smaller agencies. ACORD also produces industry research including the annual Digital Maturity Study and Carrier M&A reports, and hosts the flagship ACORD Connect annual conference. The Ruschlikon initiative provides implementation community support for accounting and claims standards.

Differentiator

Problem solved

Functional benefit

Brands

• ACORD Solutions Group: Digital solutions subsidiary delivering next-generation insurance data exchange solutions including ADEPT, ACORD Transcriber, ACORD Conductor, and ACORD Converter.
• ACORD Transcriber
• ACORD Conductor
• ACORD Converter
• ADEPT
• ACORD Connect

Products and services

• ADEPT (ACORD Data Exchange Platform & Translator)
• ACORD Transcriber
• ACORD Conductor
• ACORD Converter
• ACORD GRLC Standards
• ACORD NGDS (Next-Generation Digital Standards)
• ACORD Forms
• Advantage Plus Program
• Automated Sanctions Screening Service

Quantifiable outcome

• 275 million message transactions processed annually across the ACORD network
• +5 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability8 records

Feature9 records

Partnerships

21 partnerships are on record, tiered core and minor.

• AoncoreTechnology or Integration · 20 May 2026Aon completed integration of ACORD Solutions Group's ADEPT gateway with its ABConnect Placements platform, driving reinsurance treaty and facultative placing data across the value chain in real time. This replaces inefficient email-based workflows and accelerates post-bind accounting and claims transactions. Aon is a major global (re)insurance broker processing substantial placement volume through the London Market.
• DuckCreekcoreTechnology or IntegrationDuckCreek is a Licensed Integrator Partner of ACORD Solutions Group, integrating ACORD's digital solutions into its insurance software platform to provide customers with standards-compliant data exchange capabilities.
• CGIcoreTechnology or IntegrationCGI is a Licensed Integrator Partner of ACORD Solutions Group, embedding ACORD digital solutions into its consulting and technology services for the insurance industry.
• AdvantageGocoreTechnology or IntegrationAdvantageGo is a Licensed Integrator Partner of ACORD Solutions Group, integrating ACORD's standards-based digital solutions into its insurance technology offerings.
• EBIXcoreTechnology or IntegrationEBIX is a Licensed Integrator Partner of ACORD Solutions Group, incorporating ACORD digital solutions into its insurance software and services portfolio.
• GuidewirecoreTechnology or IntegrationGuidewire is a Licensed Integrator Partner of ACORD Solutions Group, integrating ACORD's standards-compliant digital data exchange solutions into its core insurance platform offerings.
• VeriskcoreTechnology or IntegrationVerisk is a Licensed Integrator Partner of ACORD Solutions Group, integrating ACORD's digital data exchange capabilities into its insurance analytics and software platforms. Verisk also participates in the London Market campaign for shared data standards alongside ACORD.
• MarshcoreStrategic or Co-development PartnerMarsh collaborated with ACORD and AXA XL on the digitalization of broker-carrier workflows using GRLC Standards, winning the 2025 British Insurance Technology Award for Technology Collaboration of the Year.
• AXA XLcoreStrategic or Co-development PartnerAXA XL collaborated with ACORD and Marsh on the digitalization of broker-carrier workflows using GRLC Standards, winning the 2025 British Insurance Technology Award for Technology Collaboration of the Year. AXA XL is also a major player in the London Market pushing for elimination of paper/email-based trading by end of 2026.
• Council of Insurance Agents & Brokers (CIAB)coreStrategic or Co-development PartnerCIAB is a founding member of the ACORD Inter-Association Advisory Council (IAAC), a coalition of major North American P&C insurance associations working to enhance digital communication and standardize data across the industry.
• Independent Insurance Agents & Brokers of America (IIABA/ACT)coreStrategic or Co-development PartnerIIABA (Big 'I') is a founding member of the ACORD Inter-Association Advisory Council. Big 'I' members receive discounted pricing on the ACORD Advantage Plus program ($199/year vs. $259/year standard rate).
• Wholesale & Specialty Insurance Association (WSIA)coreStrategic or Co-development PartnerWSIA is a founding member of the ACORD Inter-Association Advisory Council, working with ACORD and other major associations to advance digital communication and standardize data across the North American P&C market.
• AUGIE GroupcoreStrategic or Co-development PartnerAUGIE Group participated in the inaugural meeting of the ACORD Inter-Association Advisory Council on May 4, 2026, as one of seven founding member associations.
• CSIO (Centre for Study of Insurance Operations)coreStrategic or Co-development PartnerCSIO is a founding member of the ACORD Inter-Association Advisory Council, contributing to the coalition working on data stewardship, AI governance, and data sovereignty across the North American P&C sector.
• PIA National (National Association of Professional Insurance Agents)coreStrategic or Co-development PartnerPIA National is a founding member of the ACORD Inter-Association Advisory Council. PIA members receive discounted pricing on the ACORD Advantage Plus program ($199/year vs. $259/year standard rate).
• Lloyd'scoreStrategic or Co-development PartnerLloyd's is a key participant in the London Market campaign for shared data standards, supporting adoption of ACORD's GRLC standards. Lloyd's is part of the Blueprint Two market modernization program with ACORD's Core Data Record as a central element.
• ThoughtworkscoreStrategic or Co-development PartnerThoughtworks co-hosts ASG Horizons events with ACORD Solutions Group, such as the July 16, 2026 event on 'Accelerating Agentic Ecosystems Through Legacy Modernization', addressing AI adoption in insurance.
• Placing Platform Limited (PPL)coreTechnology or IntegrationPPL is a key placing platform in the London Market that supports ACORD GRLC standards integration. Aon's ABConnect can send data through ADEPT to PPL and other platforms for straight-through processing.
• Whitespace (Verisk Sequel)coreTechnology or IntegrationWhitespace is a London Market placing platform that supports ACORD GRLC standards, enabling insurers to receive data through ADEPT and other ACORD-compliant solutions.
• Lloyd's Market Association (LMA)coreStrategic or Co-development PartnerLMA has joined the Ruschlikon eAccounting and Claims Steering Committee, representing managing agents in the Lloyd's market. LMA's Operations Director Joe Brace leads work to transform business processes and data flows in line with global standards.
• Insurance Industry Charitable Foundation (IICF)minorOthersACORD supports the IICF Children's Relief Fund as part of its community service and social impact initiatives.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• NACHA: Not-for-profit association that governs the ACH Network and develops operating rules and standards for electronic payments in the US. Analogous to ACORD in being a member-funded standards body that owns and operates critical infrastructure for a financial services domain.
• GS1: Global not-for-profit standards organization for supply chain, retail, and healthcare (barcodes, data exchange). Highly comparable to ACORD in operating as a multi-stakeholder standards body that drives data interoperability across an entire industry vertical.
• Health Level Seven (HL7): Not-for-profit standards-developing organization for healthcare data interoperability. Highly comparable to ACORD's structure: industry-specific standards body that publishes data formats (FHIR equivalent of ACORD XML/JSON), drives adoption through member communities, and increasingly enables ecosystem-wide data exchange (HL7 FHIR analogous to ACORD NGDS).
• FIX Trading Community: Not-for-profit industry organization that owns the FIX messaging standard for global financial trading. Closely parallels ACORD's role in defining insurance data exchange standards and fostering adoption through member communities and implementation guides.
• SWIFT: Global member-owned cooperative providing standardized financial messaging infrastructure for banks and financial institutions. Directly analogous to ACORD as a nonprofit standards body that operates as the data-exchange backbone of its industry, with parallel governance and member-fee economics.

Emerging players

• Duck Creek Technologies: Cloud-native insurance core systems provider and Licensed Integrator Partner of ACORD Solutions Group. Comparable as a SaaS insurance technology platform that integrates ACORD data standards into its product offerings for P&C and life insurers.
• PilotFish Technology: Provider of graphical integration IDEs (XCS eiConsole) for ACORD P&C and L&A standards implementation. Comparable as a niche data-exchange enablement vendor in the insurance ecosystem, with ACORD distributing its tools to members.
• Guidewire Software: Major insurance core systems platform (PolicyCenter, ClaimCenter, BillingCenter) that integrates ACORD standards natively. Comparable as a vendor in the insurance technology ecosystem that depends on and competes with ACORD's commercial solutions for data exchange.

Broad incumbents

• Verisk: Large public data analytics and insurance-industry technology provider that is also a Licensed Integrator Partner of ACORD Solutions Group. Comparable as a commercial insurance data/solutions vendor that competes with and complements ACORD's commercial offerings across analytics and exchange.
• LexisNexis Risk Solutions: Large data, analytics, and risk services provider serving insurance, financial services, and government. Comparable as an established data-exchange and analytics vendor in the insurance vertical that competes in overlapping workflow automation and risk data spaces.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/user/ACORDStandards
• LinkedInlinkedin.com/company/26678
• Xx.com/acord_standards
• Facebookfacebook.com/acord.standards

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ACORD