Use ACORD and Data Governance to Accelerate Standards-Enabled Reference and Master Data Management

In the data-rich world of Insurance, the adoption of efficient data governance is a mandate. Our Data Governance Accelerator uses the ACORD industry framework to tie together enterprise data elements from the Carrier’s business, saving time and money, while increasing quality and consistency inherent in ACORD adoption.

“NEOS helped us strike the balance that was needed for us to make for an effective approach to our data.”

— VP of Product Development, Global Leader in Benchmark Prices

How It Works

  • Frame

    Data Governance acceleration begins by framing the problem. Using the NEOS Data Topology Framework, we look at the importance and reusability of data across the enterprise and external partners, such as producers. We do this to uncover common or dissimilar processes, terms, business rules, standards, data feeds, data sources, usage limitations, messages/layouts, systems, and internal and external data objects.

  • Solve

    After we understand the data landscape, we begin enabling workflows within a data governance tool to manage any changes to the landscape. To accelerate the adoption process of the workflows, we provide a set of prebuilt ACORD framework data asset libraries that promote an ACORD-based glossary, data dictionary, process inventory, message schema, and lineage paths.

  • Leverage

    The adoption process is not complete until we: 1) apply data security and quality mechanisms to protect your data assets; 2) enable the enterprise and external partners to exchange new and existing data; and 3) merge different data sources to increase their current value.

JUMP-START A PATH TO A RIGHT-SIZED GOVERNANCE APPROACH

Data Alignment

Enable the reuse of data assets across the enterprise, allowing carriers to create new data analytics and decision support offerings.

Ease of Integration

Our pre-built ACORD Framework data asset calculator reduces the cost of data integration across ACORD-enabled data interfaces.

Stability and Visibility

An ACORD-based data governance environment provides you with a single, stable view into your systems of record–allowing underlying systems to change as frequently as necessary.

Consistency and Buy-In

Promote and facilitate a culture of governance, data stewardship, and collaboration in a world of constant change.