Strategic Alliance Between DIFCIA and ACORD Aims to Enhance Global Insurance Standards
The Dubai International Financial Centre Insurance Association (DIFCIA), an esteemed body encompassing the entire insurance, reinsurance, and wealth management sectors within the DIFC and beyond, has recently announced a reciprocal membership with ACORD, the global standards-setting organization for the insurance industry.

The Dubai International Financial Centre Insurance Association (DIFCIA), an esteemed body encompassing the entire insurance, reinsurance, and wealth management sectors within the DIFC and beyond, has recently announced a reciprocal membership with ACORD, the global standards-setting organization for the insurance industry. This partnership underscores DIFCIA's commitment to fostering innovation and efficiency in the insurance sector through collaboration with a key industry standards body.
Founded as a pioneering member of the ACORD Global Advisory Council (GAC), the DIFCIA plays a pivotal role in representing insurance professionals across the Middle East, including agencies, brokers, consultancies, and more. This reciprocal membership facilitates enhanced interaction with industry peers, contributing to the development of ACORD Data Standards and promoting greater efficiency and effectiveness for its members both regionally and globally. The partnership also enables strategic collaborations between the two organizations, furthering their mutual goals of advancing digital transformation in the insurance industry.
The announcement was made during the second meeting of the ACORD Global Advisory Council held at the DIFCIA offices in Dubai. The GAC brings together key leaders from the global insurance industry to standardize data exchange across major insurance market hubs such as London, Bermuda, Singapore, and Dubai. As a founding member of the GAC, the DIFCIA has been instrumental in leading digital transformation initiatives across both established and emerging markets.
Dave Matcham, Chief Executive of the International Underwriting Association of London (IUA) and Chair of the GAC, expressed his gratitude for DIFCIA's contributions. "On behalf of the ACORD Global Advisory Council, I’d like to thank the DIFCIA for their ongoing contributions. It’s clear that forward-thinking insurance organizations in Dubai, as in other global hubs, are keen to experience the benefits of global data standards as they look to transform their markets," said Matcham.
Chris Newman, President International at ACORD, echoed these sentiments, highlighting the importance of the reciprocal membership. "As ACORD continues its work increasing efficiencies for global data exchange, it is a pleasure to have the ongoing leadership and representation of the DIFC Insurance Association," said Newman. "Our reciprocal membership with the DIFCIA allows our organizations to serve our community even more effectively, as we continue driving digitalization across new geographies and stakeholders."
About DIFCIA
The Dubai International Financial Centre Insurance Association (DIFCIA) was established in 2015 as the first independent insurance association in the UAE. Headquartered in the DIFC and operated by its members, DIFCIA boasts nearly 100 active technical committee members and growing affiliations with global associations. The association offers a unique platform for the exchange of ideas, market information, and best practices, aiming to enhance the insurance industry. DIFCIA advocates for its members' interests through close relationships with regulators and authorities, providing a range of benefits including industry voice, advocacy, statistics, information, education, networking, and events.
About ACORD
ACORD (Association for Cooperative Operations Research and Development) is the global standards-setting body for the insurance and related financial services industries. It facilitates fast, accurate data exchange and efficient workflows through the development of electronic standards, standardized forms, data models and architecture, and tools to support their use. Engaging thousands of insurance and reinsurance companies, agents and brokers, software providers, financial services organizations, and industry associations across more than 100 countries, ACORD maintains offices in New York and London. For more information, visit www.acord.org.
This strategic partnership between DIFCIA and ACORD signifies a major step forward in the quest for standardized, efficient data exchange in the global insurance industry, reflecting both organizations' dedication to innovation and collaboration in this critical sector.