SOURCE ACORD

HAMILTON, Bermuda and NEW YORK, March 13, 2025 /PRNewswire/ -- ACORD Solutions Group, a leading provider of next-generation digital solutions for the global insurance industry, today announced the launch of the ADEPT Bermuda Regional Hub. As part of the data exchange hub's launch, ACORD Solutions Group will give away one million free digital messaging transactions to each new Bermuda-based client in 2025.

ADEPT (ACORD Data Exchange Platform and Translator) enables the seamless exchange of placing, accounting, and claims data with stakeholders across the global insurance ecosystem, at all levels of digital enablement. ADEPT Regional Hubs were first launched in western Europe in collaboration with the Ruschlikon initiative, which includes the world's largest reinsurance carriers and brokers; the Bermuda hub is the first in a series of new digital data exchanges in current and emerging global (re)insurance centers.

"Bermuda is well known as a hotspot for the reinsurance and specialty markets, and giving new users one million free transactions will further accelerate the digitalization of this market," said Chris Newman, President International, ACORD Solutions Group. "After seeing the success of ADEPT for messaging across the value chain, we're excited to launch the first non-European-based hub, with plans to continue expanding this initiative in areas such as Singapore, Dubai, and North America."

ADEPT allows organizations to digitally exchange messages across the full scope of the (re)insurance and specialty market, with significant savings in time, cost, and manual effort. ADEPT messaging is fully compliant with the ACORD Global Reinsurance & Large Commercial (GRLC) Standards, widely used throughout the industry.

"ACORD Solutions Group has been instrumental in driving greater awareness and adoption of standardized data exchange, and supporting our industry's shared modernization goals," said Nicole Kellenberger, Co-Chair of the Ruschlikon eAccounting & Claims Steering Committee. "The Regional Hub model has proved successful in Italy and Spain, helping firms to transition from email-based transactions to a fully digital workflow, with lower-than-expected adoption costs."

"ADEPT's intuitive user interface and API-ready framework make it seamless for firms to get on board and enjoy the benefits of standardized data exchange," Newman continued. "Our GRLC Standards community has reported up to 70% reduction in unallocated cash, 80% improvement in data quality, and 60% reduction in manual effort to process claim transactions. We want to see the entire global industry realize these efficiency gains."

ACORD Solutions Group announced the launch of the ADEPT Bermuda Regional Hub following the 2025 Bermuda Risk Summit. Learn more about ADEPT's digital data exchange capabilities at www.acordsolutions.com/adept, and sign up for the ADEPT Bermuda Regional Hub user by contacting sales@acordsolutions.com.

About ACORD Solutions Group

ACORD Solutions Group was created to solve critical industry challenges by delivering next-generation digital solutions and services. Our enterprise-class solutions optimize the speed, cost, and accuracy of data exchange, connecting stakeholders regardless of geography, role, and legacy constraints. ACORD Solutions Group is an extension of ACORD, the standards-setting body for the global insurance industry. Learn more at www.acordsolutions.com.

CONTACT:   Beth Jarecki
                     beth@omniaparatus.com

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