Open Risk Data Association Demonstrated Data Exchange
A non-profit initiative has successfully tested a standardized API for sharing insurance risk information.
Updated on Oct. 5, 2026 in Economic Indicators
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The Open Risk Data Association (ORDA) successfully demonstrated a proof of concept for standardized risk data exchange between insurance market participants. Three participants used the ORDA API to transfer property information, including geocoding and insured values, between their respective systems.
Why it matters
Standardizing how corporates, brokers, and insurers share data aims to reduce ambiguity and create a consistent view of exposures. This unified data structure facilitates improved analytics, risk engineering, and the integration of artificial intelligence.
A proof of concept demonstrated data transfer among three market participants using the ORDA API. The test involved transferring specific property data including location, addresses, geocoding, and insured values.
The players
Open Risk Data Association
This is a non-profit initiative dedicated to standardizing risk data exchange between corporates, brokers, and insurers.
Swiss Re Corporate Solutions
This organization participated in the proof of concept through its Risk Data and Services platform.
GVNW Symposium
This is a German event for the risk management community where the ORDA proof of concept was demonstrated.
The details
Market participants connect their existing infrastructure to the standardized API rather than replacing it, enabling seamless communication between disparate systems. The initiative focuses on creating a consistent, structured view of risk information across the insurance landscape.
Timeline
The proof of concept was conducted at the GVNW Symposium in Germany.
The initiative results were detailed in an article published on October 5, 2026.
Macro View
The introduction of a standardized API represents a significant shift from the fragmented, proprietary data silos that have historically dominated the insurance industry. This mirrors broader digital transformation efforts in financial sectors to move toward interoperable data infrastructures.
While this proof of concept currently impacts industry professionals, it suggests future improvements in how quickly and accurately insurance claims and risk assessments are processed. Average policyholders may eventually see more consistent and transparent risk pricing as a result of better data flow.
The takeaway
Standardization is the crucial first step toward enabling advanced AI deployment in insurance risk management. Industry participants that adopt these shared interfaces may see significant long-term efficiency gains in their risk engineering and modeling capabilities.
Further reading
For more on industry-wide data standardization efforts, visit our Economic Indicators section.
Source note: This article includes information reported by Commercial Risk.
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