Coforge partners with ACORD Solutions Group to drive adoption of modernization capabilities in the global insurance industry

Coforge (NSE: COFORGE), today announced a partnership with ACORD Solutions Group and is part of the Licensed Integrator Partner (LIP) program. This partnership will drive automated submissions placing, accounting, and claims data exchange across its global broker, insurer, and reinsurer clients.

ACORD Solutions Group's Licensed Integrator Partner community is made up of solution and service providers alongside other industry stakeholders working to drive market-wide adoption of capabilities that modernize the global insurance industry. As part of the partnership Coforge will leverage ACORD Transcriber- Intelligent Document Processing solution and ADEPT- a real-time, cloud-based digital data exchange platform to enable easier integration between brokers and carriers as well as support carrier integration with the London Market's 'Blueprint Two' market modernization initiative.

Through this strategic partnership, Coforge will empower its clients with access to advanced AI-powered extraction models. This innovative technology will enable the seamless digitization of crucial insurance documents, including submissions, contracts, accounting records, and claims. Additionally, Coforge's clients will benefit from the ability to effortlessly send and receive digital data for placement, accounting, and claims with their global trading partners.

Chris Newman, President International, ACORD Solutions Group, commented, "This partnership with Coforge marks a key step towards driving greater adoption of standardized data exchange and enhancing digitalization across the insurance industry. We're happy to see the LIP community grow and help drive efficiency across the market."

Rajeev Batra, EVP & Head Insurance, Coforge said, "At Coforge, we have established strategic partnerships with leading core platform providers. These alliances have positioned us as market leaders in driving core transformation for our insurance clients. Our partnership with ACORD Solutions Group signals a significant step forward in developing connected enterprise solutions that are not only industry-leading but also future-ready."

Shares of Coforge Limited was last trading in BSE at Rs. 8918.80 as compared to the previous close of Rs. 8903.10. The total number of shares traded during the day was 10097 in over 2819 trades.

The stock hit an intraday high of Rs. 8987.80 and intraday low of 8900.00. The net turnover during the day was Rs. 90174291.00.

Source : Equity Bulls

Keywords

Coforge INE591G01017 Partnership ACORDSolutionsGroup LicensedIntegratorPartner