ACORD Forms Simplified
When it comes to insurance forms, you probably already feel buried under them. There is a lot to keep track of, but some forms you may have heard of are the ACORD forms. Several insurance carriers use these documents to provide a method to exchange information and record it. If you’ve ever been asked to complete an ACORD 125 fillable form, then you may want to know the basics of ACORD forms.
What Is ACORD?
ACORD is the Association for Operations Research and Development. They are a nonprofit standards developer. Essentially, they are the ones that set forth a universal language for insurance agencies to use. They have a massive library of forms that the insurance industry uses regularly.
One thing to know about the ACORD forms is that they regularly update so that they follow the latest trends and needs set forth by the industry. In addition, they make it easy to trade data between carriers and partners. The idea behind ACORD forms is to make everything simpler, rather than more difficult.
If you’re being asked to fill out an ACORD form, such as the ACORD 125 fillable form, then don’t worry. These are simply insurance forms. The ACORD 125, for instance, is a commercial insurance form. ACORD forms help simplify the industry.