Digital Information Interchange in the Insurance Industry

The Technical Committee TC 445 of the European Standardization Organization CEN develops standards in the field of digital information interchange for the European insurance industry.

This applies to processes in policy administration (quotation, offer, application, transfer of contract and premium data, premium and commission statement, party and contract changes, search and information services for party and contract) and in claims handling (notification, verification, assessment, authorization, settlement and reimbursement, recovery, status information).

Standardization is focused on the digital information interchange which connects insurance companies with their customers and their market partners, e.g. brokers, sales organizations, portals, service providers, and other insurers. All lines of business in the insurance industry are considered, such as life, health, property and casualty.

The developments of CEN/TC 445 are based on the Core Component Library of UN/CEFACT (more information here) and on the results of the former CEN Work Group eEG7 (more information here).