The insurance industry’s standards developer, the Association for Co-operative Operations Research and Development (ACORD), has new forms awaiting approval which it says will improve data collection in the Australian market.

An update from the organisation says it will soon be able to offer eForms as well as PDFs, which members will find easier and more useful for data gathering. The forms awaiting approval are certificates of currency for home, private motor and professional indemnity (PI) insurance.

ACORD plans to have them voted on, approved and available to members by about mid-year.

Three commercial applications – PI, industrial special risks and business package – are also under development.

ACORD’S Australia Advisory Committee Chairman, Troy Filipcevic – who is EM Distribution Technology at Suncorp, says the US-based organisation is working hard to get new standards implemented as soon as they are ready.

“We need to drive harder towards standardisation, get the ACORD standards implemented and improve business and efficiency across the board,” he said.