ACORD, the global standards-setting body for the insurance industry, in partnership with Howden, a global insurance group, have announced that ACORD Standards for digital accounting and invoicing are live and operational in the UK retail insurance market. This marks the first time ACORD digital accounting standards are being used in the UK outside of the specialty and (re)insurance market, paving the way for wider adoption across the broader insurance sector.
Originally developed for the global specialty and (re)insurance market, the ACORD GRLC (Global Reinsurance & Large Commercial) Standards help organisations share placing, accounting, and claims data for end-to-end processing from pre-bind to post-bind in a single, uniform format. Through standardisation, insurers, brokers, and service providers can increase efficiency, interoperability and data quality, while supporting the adoption and implementation of emerging digital-first systems both internally and across trading partners.
While large global (re)insurers, (re)brokers, and specialty providers have been leveraging ACORD Standards for decades in the UK, this development now extends those benefits to retail insurers and brokers, thanks to the continued and robust collaboration between Howden and ACORD.
Howden has operationalised the ACORD Standards for digital invoicing using ACORD Solutions Group’s ADEPT (ACORD Data Exchange Platform & Translator) as a messaging gateway and portal with their retail insurer partner, Hiscox. ADEPT is a cloud-native platform that connects stakeholders via modern API architecture and supports both XML and JSON messaging formats, enabling seamless integration with existing systems and empowering insurers and brokers to interact dynamically with data. Through the ADEPT receiver portal, Hiscox can respond to the digital invoices Howden sends in real time.
By using one platform, Howden can now deploy the same ADEPT workflow for exchanging data with retail insurance providers as it does with global specialty insurers and reinsurers, dramatically improving efficiency whilst eliminating redundant processes and technologies. This approach not only simplifies the technical complexities of invoicing but also sets a benchmark for digital transformation across the insurance ecosystem.
Due to the success of the GRLC standards in the UK, Howden has built an extensive roadmap of retail insurers they want to partner with in the future to digitally exchange invoicing data, continuing its leverage of ACORD Standards across the UK and beyond.
“At Howden, we are pleased to be expanding our partnership with ACORD to drive real change in the UK retail insurance market,” said Guy Turner, Head of IBA – Business Services Group, Howden. “The adoption of ACORD’s digital accounting standards will transform outdated reconciliation processes into the same streamlined, scalable solutions that are evident in the reinsurance and specialty markets. We don’t just see this as modernisation, it’s a fundamental shift that will enhance how brokers, underwriters, and clients connect to the benefit of all.”
“Howden has been a long-standing and valued partner of ACORD, and this milestone marks a significant advancement in our collaboration,” said Chris Newman, President International, ACORD. “As a firm consistently at the forefront of innovation across the insurance industry, Howden is not only embracing digital transformation but actively shaping its future. The adoption of ACORD Standards in the UK retail insurance market reflects years of shared commitment to modernization and underscores the strength of our truly global partnership—spanning markets across all seven continents. We look forward to continuing our work with Howden to reach even more markets worldwide, driving greater connectivity, efficiency, and innovation across the insurance ecosystem.”
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