Digital Data Exchange Hub, a new venture by ACORD Solutions Group, goes live in Dubai. The initiative provides a million complimentary digital transactions for users.
In a significant move aimed at enhancing digital connectivity and collaboration within the global (re)insurance industry, ACORD Solutions Group has established the ADEPT Dubai Regional Hub. This new data exchange hub, launched at the event "Discover the Future of (Re)Insurance in the UAE," is set to be a pivotal centre for international (re)insurance, connecting market participants in the UAE and beyond.
The ADEPT Dubai Regional Hub is designed to facilitate real-time, standardized digital exchange of placing, accounting, and claims data across the global (re)insurance ecosystem. By doing so, it aims to reduce the time, costs, and manual effort involved in data exchange, making the process more efficient and streamlined.
The hub is fully aligned with ACORD Global Reinsurance & Large Commercial (GRLC) Standards, ensuring interoperability and data consistency. This alignment is crucial in fostering a more efficient, digital-first (re)insurance marketplace in the UAE and positioning it as a future-ready market.
This Dubai hub is part of ACORD Solutions Group’s global strategy to establish a network of interconnected regional hubs (including planned hubs in Singapore and the Nordics). By standardizing data flows and offering API-driven capabilities, ADEPT facilitates industry innovation and collaboration while future-proofing the sector through digital transformation.
The ADEPT Dubai Regional Hub serves as a critical regional node that advances digital connectivity, efficiency, and collaboration within the global (re)insurance industry. It is a perfect example of collaboration and dedication to the goal of spreading standardised data exchange across global insurance hubs.
In addition to the Dubai launch, ACORD Solutions Group has also announced the launch of the ADEPT Bermuda Regional Hub, further expanding its global network of regional hubs. To support the growth and adoption of ADEPT, ACORD Solutions Group is offering one million free digital messaging transactions to each new North American and Dubai-based client.
The ACORD Global Advisory Council, established to drive modernization in the global insurance industry, aims to spread the benefits of standardised data exchange across global insurance hubs. The council has been instrumental in enhancing and expanding collaboration among key industry stakeholders.
The launch of the ADEPT Dubai Regional Hub is a significant step towards ACORD Solutions Group’s vision of a connected worldwide insurance marketplace. With its intuitive interface, API-ready framework, and commitment to standardization, ADEPT is poised to revolutionize the (re)insurance industry, making it more efficient, connected, and future-ready.
[1] ACORD Solutions Group Press Release: "ACORD Solutions Group Launches ADEPT Dubai Regional Hub" [2] ACORD Solutions Group Press Release: "ACORD Solutions Group Announces ADEPT Bermuda Regional Hub" [3] ACORD Solutions Group Whitepaper: "ADEPT: The Future of Data Exchange in the (Re)Insurance Industry" [4] ACORD Solutions Group Case Study: "Efficiency Gains through ADEPT Implementation"
- The ADEPT Dubai Regional Hub, established by ACORD Solutions Group, will serve as a significant connection point for international (re)insurance market participants in the UAE and beyond, promoting real-time, standardized digital exchange of placing, accounting, and claims data.
- ACORD Solutions Group's strategic global plan includes not only the ADEPT Dubai Regional Hub, but also planned hubs in Singapore and the Nordics, aiming to standardize data flows and offer API-driven capabilities to facilitate industry innovation and collaboration.
- By spreading standardized data exchange across global insurance hubs, ACORD Solutions Group's initiatives, including the launch of the ADEPT Dubai Regional Hub, align with the goals of the ACORD Global Advisory Council, which is dedicated to modernizing the global insurance industry.
- As part of its commitment to fostering a more efficient, digital-first (re)insurance marketplace, ACORD Solutions Group is offering one million free digital messaging transactions to each new North American and Dubai-based client, supporting the growth and adoption of its cutting-edge digital exchange platform, ADEPT.
