ACORD bestowed an Early Adopter Award on online insurance provider InsWeb for its efforts to develop the XML (Extensible Markup Language) standard for p/c insurance transactions. According to Gregory A. Maciag, president and CEO of ACORD, InsWeb’s early adoption of XML and negotiations with other companies to reach a consensus on specifications have been “extremely valuable.” InsWeb collaborated with The Hartford earlier this year to implement a live interface using the ACORD XML P&C specifications to facilitate real-time auto insurance quotes for online consumers.
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