#31 - Mark Bennett: ACORD, Embracing Common Standards, & Reducing Friction for Industry Practitioners

This week the guys talk with Mark Bennett, VP of Global Business Development at ACORD. They get into what common standards have done for the (re)insurance market, the benefits of industry participants speaking the ‘same language’, and how embracing easy communication is advantageous to everyone. We also play a game of Analogy Battle. EPISODE LINKS: Mark's LinkedIn: https://www.linkedin.com/in/mark-bennett-0787262b/ ACORD: www.acord.org ACORD's LinkedIn: linkedin.com/company/acord ACORD Solution Group: www.acordsolutions.com ACORD Solution Group's LinkedIn: linkedin.com/company/acord-solutions-group CONNECT & SUPPORT: Website: https://www.supercede.com LinkedIn: https://www.linkedin.com/company/supercedehq Twitter: https://twitter.com/SupercedeHQ YouTube: https://www.youtube.com/channel/UCuzfykcesD0phGaCK7qB09Q RSS Feed: https://anchor.fm/s/7e741c8c/podcast/rss Say Hello: [email protected] OUTLINE & TIMESTAMPS: (00:00) Intro (00:36) What Is ACORD? (01:52) The History of ACORD (04:20) What Is an ACORD Standard? (05:36) Core Issues Solved by Having Standards (06:55) Analogy Battle: What Is ACORD? (12:20) Embracing Common Standards for More Effective Trading (17:55) Do ACORD Have ‘Competitors’? (20:25) Bringing Together Organisations for Common Standards (26:20) How Much Business Flows Through ACORD Standards? (29:21) Automation Through ACORD and (Re)Insurtechs (30:20) Innovation and APIs