ACORD is a multinational organization as we serve members in all parts of the world and provide standards to support the increasingly global flow of data in our business. And as part of our work with industry trade associations, we have partnered on various events and activities around the world including the Asia-Pacific region. Last year, we met with the China Insurance Regulatory Commission (CIRC). They created the China Insurance Industry Standards Technology Committee (CIISTC) for the purpose of exploring how to develop and implement data standards in China.
They published a five year plan that specifically recognizes the need for such standards. China has 107 registered insurance companies plus intermediaries and suppliers doing business here.
CIRC and (specifically) the CIISTC have invited ACORD to present a seminar to the insurance industry in China this year. The purpose of this seminar is to introduce ACORD to the industry. Officials will invite senior executives and anticipate in excess of 200 participants. We are now in the process of working out all the details. We are honored to have been invited to organize this seminar with the CIISTC. We just concluded our meeting and dinner with them in Beijing this evening. This is a picture of CIRC and CIISTC officials together with me and ACORD staff.