News

AFNOR proposes the creation of a European standard on Exchange format in marine and transport insurance

Marine and transport activities are a major world business but they are lacking of harmonization in insurance processes. The French standard "Exchange format in marine and transport insurance" (NF Z67-137), developed by major marine insurers and brokers will serve as basis for this European project.

Marine and transport activity is a major world business, with a lack of harmonization in insurance processes. Except for some De Facto specifications used in isolated Maritime insurance business exchanges, there is a lack of shared data workflow. This situation leads to a lack of basic rules which can originate unfair management risks.

An experience has already been gathered in France with the development of a standard "Exchange format in marine and transport insurance", published in May 2011, and reviewed in January 2012. This standard - aimed to describe all documentary, technical, accounting and financial flows in marine and transport insurance - will be filling a gap by improving reliability of accounting flows, cost cuts, simplification in coinsurance and reinsurance processes, and equal treatment between co-insurers. It addresses apportionment, claim advice, claim adjustment, issued premium and financial account.

Developing such a standard at European level would enable sharing common date flow among European partners, favor practice sharing, and enhance European competitiveness. In this aim, AFNOR proposed the creation of a new CEN Project Committee on the exchange format in marine and transport insurance. An answer will be given in February 2012.

Any major player (insurer, broker, average agent, body distributor, insurance software developer) may take part in the standardization committee dedicated to this new standard. The only way is to contact your local standardization body (list in : http://www.cen.eu/cen/Members/Pages/default.aspx ) , before 7th February, and ask to be part of the CEN/BTC 140-2011 project.

More about the "NF Z67-137 - Exchange format in marine and transport insurance" standard...