Life Carriers, Distributors And Vendors Collaborating On Key Technology Initiatives
November 2, 2021 by Ken Leibow
The life insurance industry is coming together to work on some key initiatives in 2021. The governance of these projects are spearheaded by industry associations like the Life Distribution Technology Committee (LDTC) and ACORD. This is not new as many of our associations have developed projects in the past such as LIDMA’s Process Improvement Team enhancing ePolicy Delivery, Insured Retirement Institute (IRI) developing Straight Through Processing Standards for Annuities, and life data initiatives partnering with ACORD and LIMRA. There are many more associations educating, standardizing, and identifying best of breed solutions for the life insurance industry including new projects this year. This article will focus on the current initiatives of Life Automated Underwriting, Common API, The New Norm, and the Next Generation Digital Standards.
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