LAS VEGAS, May 22 /PRNewswire-FirstCall/ -- The Hartford Financial Services Group, Inc. , a leading provider of insurance and investment products and an industry pacesetter in the creative use of standards-based technology, was honored today with eight awards by the Association for Cooperative Operations Research and Development (ACORD) at its annual ACORD-LOMA Forum, which is being held this year in Las Vegas.
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The awards are given to companies that implement ACORD XML technology standards for transmitting data in ways that achieve business value, promote business opportunities and enhance transactions between insurers and agent or broker trading partners.
"We're delighted to be recognized once again as a leader in using ACORD XML standards, both internally and externally," said John Chu, senior vice president, eBusiness & Technology, in The Hartford's Property and Casualty division. "As we build increasingly sophisticated systems within our organization, use of these standards is critical to assure faster development and seamless data flows. Externally, these standards enable agents to conduct sales and service transactions with us directly from their agency management systems. Overall, it's much easier and less costly to move forward when our systems follow the same standards."
The Hartford won a total of eight ACORD Awards in 2006, the largest number ever received by the company. This included four awards for having the greatest impact in the property and casualty insurance industry and four for overall accomplishment.
Greatest Impact Awards:
* Greatest Dollar Volume of Premium: Awarded for premium dollars from
transactions that use XML standards.
* Greatest Growth in Number of Trading Partners: Awarded for largest
increase in partnerships exchanging data using XML standards.
* Greatest Growth in Number of Implementations: Awarded for largest
increase in the type of insurance transactions that use ACORD XML
standards.
* Greatest Number of Direct Trading Partners: Awarded for largest number
of trading partners with whom insurer exchanges ACORD XML standards-
based information.
Accomplishment Awards:
* Business Integration Enabler Award -- Internal: Recognizes companies
that profitably use ACORD XML standards to integrate internal systems.
* Business Integration Enabler Award -- External: Recognizes companies
that gain business value from using ACORD XML standards to integrate
with business partner systems.
* Web Services/SOA Award: Recognizes companies for using ACORD XML
standards in developing Web services programs and service oriented
architecture.
* AL3/XML Data Transformation Award: Recognizes companies for creating
and use business processes to translate data between the older AL3 ACORD
standard and the current XML standards.
In addition to its awards, ACORD certificated that The Hartford XML transactions conform to the Property and Casualty XML standards for versions 1.7, 1.8, or 1.9.
"The Hartford is to be congratulated not only for earning eight awards this year, but for showing the industry how beneficial ACORD data standards are for improving business and data flow," said Denise Garth, vice president, Membership and Standards, ACORD. "The Hartford continues to show leadership in developing and implementing standards-based technology, both internally and with its business partners."
ACORD is a global nonprofit insurance association that facilitates the development and use of standards for the insurance, reinsurance and related financial services industries. With offices in New York and London, ACORD remains an objective, independent advocate for sharing information among diverse platforms. ACORD affiliates include hundreds of insurance and reinsurance companies and thousands of agents and brokers, related financial services organizations, software providers, and industry organizations worldwide. ACORD's Internet address is http://www.acord.org/.
The Hartford, a Fortune 100 company, is one of the nation's largest financial services and insurance companies, with 2005 revenues of $27.1 billion. The Hartford is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property and casualty insurance. International operations are located in Japan, Brazil and the United Kingdom. The Hartford's Internet address is http://www.thehartford.com/.
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2005 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
Contact(s):
Sue Honeyman Debora Raymond
860-547-4976 860-547-9613
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