Next year promises to be a breakthrough period for the Association for Co-operative Operations Research and Development (ACORD) in Australia, with more insurers expected to adopt its standard forms.

ACORD Director of Global Development Alan Stitzer told insuranceNEWS.com.au he expects “major movement” next year.

The US-based not-for-profit organisation entered the Australian market six years ago. Adoption of its standards has been slow but Mr Stitzer says it is increasing, both for forms that can be printed out and the version that is filled and sent electronically.

Mr Stitzer says brokers are particularly interested in having standardised proposal forms across insurers, while insurers are driving acceptance of electronic lodgement.

Broker group IBNA is implementing the forms, which have been incorporated into its BrokerIT software.

Donnelly Insurance Brokers Principal and IBNA director Mike Donnelly gave a talk at last week’s ACORD conference in Sydney about how his business uses the forms.

He says although each insurer tends to ask questions slightly differently, common underwriting questions can be standardised into a common proposal form that can also allow for a layer of supplementary questions about a particular risk.

He says the forms improve accuracy and compliance, brokers can complete them electronically at clients’ premises and insurers will receive information in a consistent format.

Mr Donnelly told insuranceNEWS.com.au that although insurers see the benefits of the forms, they have been concentrating on other IT projects, such as upgrades to legacy systems, which will have to be completed before they implement the ACORD standards.