NAVA Usage of ACORD XML

2 Day Training Program

In November of 2001, NAVA and ACORD entered into an agreement to work together to develop XML-based standards for the annuity industry.  As a result of that partnership NAVA coordinates and develops requirements and priorities for annuity standards through the efforts of its Technology Committee.  This Committee makes the information available to ACORD for inclusion in their standards setting processes. 

The work of this committee has resulted in two sets of comprehensive changes to the ACORD specification to support:

These changes build on the existing ACORD structures and add in features needed for these particular purposes.

This training course walks people through the ACORD features and components that are important to understand in order to make use of the features added by NAVA and includes use cases specific to the NAVA audience.  It also provides an overview of XML documents and schemas. 

Students leave with a comprehensive understanding of the requirements for implementing PPfA and NBfA.

Topics include:

         - Overview of Organizations

         - ACORD Process

         - NAVA Process

         - XMLife

         - TXLife

         - XtbML

         - Object hierarchy

         - Parties

         - Holdings

         - Products

         - Relating information

         - Annuity Product Specification

         - Annuity Holding

         - Producer Structure

         - Commission schedule features

         - Form instances

         - Arrangements

         - Authorizations

         - Financial Activities

         - How to encode XML documents

         - How to read an XML schema

         - Use of TXLife Layer

         - Important features for NAVA community

         - PPFA (Product Profile for Annuities)

         - NBFA (New Business for Annuities)

         - Creating an annuity product

         - Submit a new business application

         - Various types of financial activities

         - Allocating investment dollars

         - Identifying source(s) of funds

         - Producer commission schedule and distribution agreement

Prepare in advance:

Use your time wisely and provide the instructor with specific issues you are trying to work through.  When feasible, examples provided at least one week prior to the course will be worked into the use cases.

Target Audience:

This class targets business analysts and developers who are working with the NAVA implementation guides.  Basic understanding of annuity products and features desired.  No prior knowledge of XML needed.