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Introduction to the facets of the Framework
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What is the What is the ACORD Framework?
Copyright by ACORD.
ACORD is building the FrameworkACORD is building the Frameworkfor greater efficiency
• Framework streamlines standards development and creation
• Framework better serves ACORD members and the industryy
ACORD is building ACORD is building the Framework for the future of the industryfuture of the industry
• More diverse membershipmembership
• Global membership• Current processes • Current processes
may not work across geographies
ACORD is building the Framework ACORD is building the Framework because business models
are changingare changing
Change happens at different speeds:
Domain
Product
Geography
Corporate structure
ACORD is building the ACORD is building the Framework for flexibility
• Single business model
C b d• Cross-border
• Differing business needs
The Framework will save your The Framework will save your organization time and resources
• ACORD provides the foundationfoundation
• Anyone can use the Framework in whole or Framework in whole or in part
The Framework givesThe Framework givesyou creative freedom
The Framework has 5 facets
B i
The Framework has 5 facets
BusinessDictionary
Process
CapabilityModel
ProcessMaps
ServiceM
InformationModel
Maps
ComponentModel
DataModelModel
The Business Dictionary The Business Dictionary contains standard definitions
BusinessDictionary
definitions
• Non-technical explanations
• Context works for the ti i d tentire industry
The Business Dictionary BusinessDictionary
The Business Dictionary gets you in tune with otherswith others
Standardized terminology Standardized terminology means ease
of communication
BusinessDictionary
of communication
• Examples of common definitions“frank will provide”“frank will provide”p“frank will provide”
• What they mean and how th ’ l t dthey’re related
• Common language to align business and IT internally
The Dictionary relates to The Dictionary relates to the other four facets
BusinessDictionary
• Dictionary terms employed across all facetsacross all facets
• Changes made in unison
ProcessMaps The Capability Model
CapabilityModel
The Capability Model defines what insurance companies can docompanies can do
• Baseline of a company’s capabilities
• Individual companies b t ll biliti vary, but all capabilities
exist in the industry
Process Maps within the ProcessMaps Process Maps within the
Capability Model name specific functions
CapabilityModel
specific functions
Customer Customer Service
• Company Capability:
ClaimsInvestigation
Customer Service
• Process within Customer S i Cl i I ti tiService: Claims Investigation
The Capability Model ProcessMaps The Capability Model
presents a standard perspective
CapabilityModel
standard perspective
• Does not define a required workflow, just reflects the industry’s usual way of doing business
Th M d l ff i ti l • The Model offers an organizational benchmark
You may already be ProcessMaps You may already be
using the Capability Model and not know it
CapabilityModel
Model and not know it
• Your company’s existing capabilities might be named in a standard waystandard way
Innovation:ProcessMaps Innovation:
CapabilityModel
in•no•va•tion [in-uh-vey-shuhn][ y ]
–noun
A unique activity or an established A unique activity or an established activity performed in a unique wayOrigin:Origin:
1540-50; <LL innovation- s. of innovatio).
The Capability Model ProcessMaps The Capability Model
helps facilitate business innovation
CapabilityModel
business innovation
• Capability Model helps identify areas of similarity or difference from other companies
• Gives insight into innovative ways to exploit those differences
ServiceMapsThe Component Model
ComponentModel
The Component Model provides the building blocks for your solutionsblocks for your solutions
• Components
• Service Maps
• Reusable for various insurance data transactions
Components in the Model ServiceMapsComponents in the Model
are formally defined ComponentModel
• Provide a set of irelated services
• Can stand alone or be mixed or be mixed and matched
Components in the ServiceMapsComponents in the
Model have well-defined interfaces
ComponentModel
defined interfaces
• Data is controlled by th t t th the component, not the applications that use it
• Interface is separate from • Interface is separate from implementation logic
Examples of components ServiceMapsExamples of components
and their services via SOA ComponentModel
Party Manages people, organizations and the roles they playy p y
Contact Manages addresses, contact points, territories, etc.
Product/Contract Manages policy and coverage options Product/Contract Manages policy and coverage options and the policies which we write
Insurable Object Manages information about things; h i tcars, houses, signs,etc.
Claim Manages the folder of the claim, what coverages apply
Underwriting Manages the underwriting process and its applicable data
Building the first ServiceMapsBuilding the first
environment makes the downstream projects easier
ComponentModel
downstream projects easier
=
You can create systems ServiceMapsYou can create systems
using different component combinations
ComponentModel
combinations
=e.g., Claims
Agency licensing systems ServiceMapsAgency licensing systems
may leverage many of the same components as
ComponentModel
same components as policy systems
=e.g., Agency
The environment in most IT The environment in most IT organizations is very complex
Actuarial
Policy A
Policy B
General Ledger
Policy B
Policy CAgency
InformationWarehouse
Policy D
Policy EAgency System
OperationalData storeBilling
Policy E
CRMClaimsInternal User
Assets based on a standardized component model simplify the component model simplify the
applications and the eco-system
Actuarial
Agency
General Ledger
Agency SystemInformationWarehouse
OperationalData store
Internal UserCRM
The Information Model provides theThe Information Model provides therelationships among insurance conceptsconcepts
• Ex: “Party” and “Contract”• Ex: Party and Contract
InformationModel
The Information Model The Information Model helps categorize and explain
insurance concepts• Linked to all the standards
insurance concepts
• Other facets used to ensure consistency• Ease of mapping
• Model currently contains:More than 800 classesMore than 800 classesMore than 1000 attributes
InformationModel
The Information Model is about The Information Model is about concepts, not literal implementations
• Can express ideas independently of how they are usedare used
• Concept stays consistent; you just reorganize for new formatsjust reorganize for new formats
• Designed for extensibility to accommodate future to accommodate future standards
InformationModel
Mapping creates links Mapping creates links for ease of implementation
• ACORD will map to:XML standardsXML standardsForms eLabelsOther standards and models
InformationModel
Mapping creates links Mapping creates links for ease of implementation
• ACORD mapping will link:DomainsGeographiesGeographiesFacetsStandards
• ACORD mapping saves months of work for you
InformationModel
With the Information Model, all With the Information Model, all standards can be traceable back to
the models used to create them• Consistent process for standards generation,
the models used to create them
regardless of:Type of standardD iDomainLine of business
InformationModel
The Data Model makesThe Data Model makesthe abstract more tangible
• Turns concepts from Information Model into data that can be put into databases
• Logical level persistence model
Can be used in any database implementation
Doesn’t consider data optimization t h i
DataModel
techniques
“Persistence” means “Storage”
The Data Model has many usesThe Data Model has many uses
• Create a physical data model Create a physical data model for databases
• Create data warehouses
• Map your data model to ACORD’s in order to absorb ACORD messages
• Validate your data model
DataModel
Facets of theACORD Framework
BusinessDictionary
The building
Listing and definition of things that are important
to the business.
Capability
ProcessMaps
gblocks for
insurance systems
InformationModel
p yModel Service
Maps
ComponentModelWhat insurance
i d
DataModel
companies do
Logical persistence model based on the The relationships ModelInformation Model among insurance
concepts
Using Framework Using Framework facets depends on what you are trying what you are trying to achieve
• Framework is not “all or nothing”
• Facets can be used i di id ll t t llindividually or not at all
• ACORD will use the Framework to better serve Framework to better serve members and industry
The Framework gives you the notes, The Framework gives you the notes, you write your own melody
Get InvolvedGet Involved
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London Underwriting CentreSuite 1/3
3 Minster CourtMi i LMincing Lane
London EC3R 7DDUnited Kingdom
+44 (0)20 7617 6400( )