Jul 9, 2025

Reinsurance News Industry standards body ACORD and Howden, the global insurance and reinsurance broker, have announced that the ACORD Standards for digital accounting and invoicing are live and operational in the UK retail insurance market. This is the first time ACORD digital accounting standards are being used in the UK outside of the specialty and re/insurance market, as the firm aims for wider adoption across the broader insurance sector. Large global re/insurers, brokers, and specialty providers have been using ACORD Standards for decades in the UK. This development now extends those benefits to retail insurers and brokers through the collaboration between Howden and ACORD. The ACORD GRLC (Global Reinsurance & Large Commercial) Standards were originally developed for the global specialty and re/insurance market to help organisations share placing, accounting, and claims data for end-to-end processing from pre-bind to post-bind in a single, uniform format. The standards aim to allow insurers, brokers, and service providers to increase efficiency, interoperability, and data quality while supporting the adoption and implementation of emerging digital-first systems both internally and across trading partners. Howden has operationalised the ACORD Standards for digital invoicing using ACORD Solutions Group’s ADEPT (ACORD Data Exchange Platform & Translator) as a messaging gateway and portal with their retail insurer partner, Hiscox. ADEPT is a cloud-native platform connecting stakeholders via modern API architecture and supports XML and JSON messaging formats, allowing for seamless integration with existing systems. Through the ADEPT receiver portal, Hiscox can respond to the digital invoices Howden sends in real time. By using one platform, Howden aims to deploy the same ADEPT workflow for exchanging data with retail insurance providers as it does with global specialty insurers and reinsurers, improving efficiency whilst eliminating redundant processes and technologies. Guy Turner, Head of IBA – Business Services Group, Howden, commented, “At Howden, we are pleased to be expanding our partnership with ACORD to drive real change in the UK retail insurance market. “The adoption of ACORD’s digital accounting standards will transform outdated reconciliation processes into the same streamlined, scalable solutions that are evident in the reinsurance and specialty markets. We don’t just see this as modernisation, it’s a fundamental shift that will enhance how brokers, underwriters, and clients connect to the benefit of all.” Chris Newman, President International, ACORD, added, “Howden has been a long-standing and valued partner of ACORD, and this milestone marks a significant advancement in our collaboration. As a firm consistently at the forefront of innovation across the insurance industry, Howden is not only embracing digital transformation but actively shaping its future. “The adoption of ACORD Standards in the UK retail insurance market reflects years of shared commitment to modernisation and underscores the strength of our truly global partnership, spanning markets across all seven continents. We look forward to continuing our work with Howden to reach even more markets worldwide, driving greater connectivity, efficiency, and innovation across the insurance ecosystem.” Share this: