The action in data exploitation today is in communities. Groups of people getting together to progress their common aims are the real innovators of our growing digital economy. And, overwhelmingly, the major activity of such communities is to establish data standards so they can share information, collaborate effectively and build the capability of their interest area.
The ACORD community embarked on this journey a long time ago, and has continued to create, maintain and promote standards so that everyone in the community benefits. We have used whatever technology has been available to us. Our focus has always been on communicating and working together. The motivation comes from the inherently collaborative nature of the insurance industry. Insurance is the original network business.
Communities of interest have always existed. But members couldn't always find each other. Today's – and tomorrow's – technologies make it easier for people to discover each other and prepare to collaborate. Then the real progress comes from the standards they adopt.