MIB to Implement ACORD-Based XML Interface

Westwood, MA, USA. March 26, 2001.

MIB, the voluntary association of nearly 600 life insurance companies, has announced it that it has reached an agreement with ACORD, the insurance industry's non-profit standards developer, to promote industry adoption of ACORD's XML for Life Insurance Standards in IT architecture. MIB will implement three new ACORD-approved TXLife transactions designed for communication between MIB and its member companies. The approved transactions will initially cover the MIB Checking Service.

"We're adopting the ACORD Standards to provide our members with the highest quality of service," said Fred Pritikin, chief marketing officer of MIB's e-Services Corporation. "Response time will be just a fraction of that required with our dial-up network and carriers will be able to leverage the same Internet infrastructure they've implemented for other business processes. The carriers will be able to communicate with us using standard data formats and protocols. We expect that this will result in tighter integration of MIB processes with the carriers' internal business processes."

Pritikin said that MIB was completing a reengineering of all its business processes. The three ACORD-approved transactions were designed with these overall improvements in mind.

As it begins the implementation of the XML interface, MIB is seeking vendors and carriers who are interested in being among the first to adopt the new technology. MIB plans to work with ACORD to develop additional transactions for business communications.

MIB, Inc. and e-Services Corporation are members of the MIB Group.

Prepared by Robin Cover for The XML Cover Pages archive. See "ACORD - XML for the Insurance Industry."

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