PEARL RIVER, NY October 25, 2012 – During the 2012 ACORD Implementation Forum in Ft. Lauderdale, Florida, Douglas Hubbard, President of Hubbard Decision Research and author of the business best-seller "How to Measure Anything: Finding the Value of Intangibles in Business", announced that implementing ACORD Standards can save the insurance industry at least one billion dollars
Hubbard researched ACORD member companies who actively implement Standards, and revealed his findings as part of the Value to Members Project, an initiative designed to help businesses understand the value of working with ACORD Standards. "Small efficient improvements can add up to a lot. I think this research is an example of that. ACORD simplifies processes for the entire industry. There's value in that and we can prove that," said Hubbard.
Doug Hubbard's research proves one of the founding
principles of ACORD; that working with us is worth the investment because it
saves money and increases efficiency, not only for individual companies but for
the entire industry," said Gregory A. Maciag, ACORD President and CEO.
"Our members have known this for a long time and it's great to have their
belief in our standards validated."
Hubbard and his team will continue to measure the value of ACORD implementation and will make his research available to all ACORD members. "This just makes sense. Projects that have Standards at their core are more efficient, and we've only just begun to calculate their true value. I think the value of ACORD Standards will continue to grow," Hubbard concluded. For more information about ACORD Standards and the Value to Members research, visit the ACORD website at www.acord.org.