OPEN RISK DATA Association (ORDA)

OPEN RISK DATA: A Shared Vision for a Digital Data Exchange Solution The large corporate insurance industry has long struggled with unstructured data in the pre-bind and post-bind phase of managing complex risks. Unstructured documents exchanged through email, leads to labor-intensive processes for extracting, comparing, analyzing, reconciling, and processing critical information. These inefficiencies not only increase operational costs but also hinder scalability, accuracy, and timely decision-making. The OPEN RISK DATA Association e.V. aims to structure and digitize the exchange of large corporate insurance risk data through an API messaging gateway. NEUTRAL AND TRANSPARENT GOVERNANCE The OPEN RISK DATA initiative is governed and steered by a non-profit association tasked with maintaining a balance among the interests of all participants, thereby guaranteeing equitable, transparent, and professional collaboration. All decisions are made within a mutually agreed governing body, established to act neutrally and remain impartial to ensure no competitive advantage for any party. No pricing-relevant information will be exchanged, and OPEN RISK DATA operates in full compliance with competition laws.