The digital trading Standards for UK personal and commercial lines insurance are developed and agreed together with the insurance community.
Our Standards are available on a subscription basis and are used by brokers, insurers, software houses, data providers and other industry organisations. They allow for clear, consistent communication across the UK general insurance industry acting as a common “language” and providing the basis for interoperability between industry organisations and systems. The data Standards are dynamic, and any community member may request amendments.
We develop, maintain and publish digital trading standards for the UK general insurance industry.
The Standards cover UK commercial lines business classes and UK motor and household business classes.
The Polaris industry code lists form part of the data standards. Polaris maintains and publishes over 350 of these code lists on behalf of the industry. They cover data such as motoring convictions, cover basis, trade codes etc. across both personal and commercial lines insurance.
As brokers use our Commercial Lines Standards (via imarket) more, they have told us how important it is to be able to get the best and most consistent outcomes for their customers. To help brokers achieve this Polaris reviews imarket integrated broker systems, insurer’s imarket products and our Standards on a continuous basis.
Our standards are developed through industry collaboration and are offered as a subscription based service.
Subscribing to Commercial Lines or Personal Lines Standards provides users access to the following features:
Standards provide the foundation for efficient and effective digital trading. Irrespective of the industry or technology being used, without standards digital trading can prove expensive. The adoption of Polaris digital trading standards offers a number of benefits to industry participants:
Developing industry standards allows our stakeholders to focus on building compatible business proposition and system solutions that reduce their development costs and improve their speed to market.
Standards enables you to build once and distribute the business proposition and products across multiple systems avoiding duplication of effort.
By simplifying the common part of digital trading, standards provide focus on what differentiates competing products from each other without compromising competitive advantage.
The adoption of standards reduces potential for error, particularly when data is shared between many organisations, with different systems solution in place.