Australian representatives of the Association for Co-operative Operations Research and Development (ACORD) received a standing ovation when they ran a live demonstration of the new Steadfast business pack using ACORD standards to 200 brokers, agents and interested carriers at an industry forum in San Diego last week.

Steadfast Executive Chairman and ACORD director Robert Kelly told insuranceNEWS.com.au it was a gamble to run the application live, but the response vindicated the work in taking it to the world stage. 

The team ran two transactions, to Chartis and to Vero, and received a full quotation back in eight and 10 seconds. They followed up by showing the difference between wordings in the two policies.

Mr Kelly says he received immediate enquiries about sales to the US market, with the enquirers telling him the application was the best they had seen.

About 178 of ACORD’s 277 active Australian members have transacted here and Mr Kelly says over 90 brokers asked for training after the demonstrations at the Steadfast convention in April.