Risk Management Solutions (RMS) has released a data formatting tool designed to convert data into a common format usable by insurers, brokers and reinsurers.
It said the Data Wizard product automates the process of preparing account information according to the Acord Open Market Standard.
RMS said it was distributing the tool free of charge through its website www.rms.com/datawizard.
The tool functions as an add-on to Microsoft Excel.
“The RMS Data Wizard will further facilitate adoption of Acord Open Market Exposure Reporting Standard,” said Acord UK/European standards manager Phil Brown.
“RMS providing this free of charge is a welcome contribution to the insurance market.
