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The Big “I” and ACORD, the global standards-setting body for the insurance industry, have announced a joint program to provide qualifying Big “I” members with a complimentary license to use ACORD Forms.
ACORD, a nonprofit industry organization, has provided forms to the insurance industry since 1972. ACORD currently maintains a library of over 850 forms in a variety of formats, widely used throughout the global industry. As part of its ongoing collaboration with ACORD, the Big “I” will now fund ACORD Form end user licenses for the majority of member agencies, enabling them to claim these licenses free of charge.
“Industry-standard forms are a critical component of an independent agent’s business,” says Bob Rusbuldt, Big “I” president & CEO. “With this licensing program, the Big ‘I’ is helping our members improve their operational effectiveness. We are proud to play a key role in facilitating the delivery of these assets to our members and to further enhance the value of their Big ‘I’ membership."
All agents and brokers using ACORD Forms are required to obtain licenses from ACORD. Users who are not already members or subscribers of a qualifying ACORD program are able to purchase a standalone End User License from ACORD. Under this agreement, Big “I” members with a group gross revenue of under $50 million will be eligible for a license from ACORD due to their Big “I” membership, with no additional payment necessary. Agents will still access forms via their agency management system workflow as they have previously.
“The Big ‘I’ has been an invaluable partner to ACORD in standards development, industry outreach, and many other activities in service to the insurance industry at large,” says Bill Pieroni, ACORD president & CEO. “By ensuring access to ACORD Forms, the Big ‘I’ has once again affirmed its commitment to enabling success for the independent agent and broker community.”
Katie Butler is IA editor in chief.