InsurML is currently being advanced by Axiome Partners with the ambition of establishing an insurance industry standard. In some prototyping work, some of the requirements outlined above have already been implemented as a DITA specialisation, using Oxygen Web Author as an authoring environment and GitHub for content management.
The development of InsurML will be undertaken in three phases:
Phase 1 - Establishing a baseline and 'planting the flag' – undertaken by a small group of specialists and supported with a limited budget.
Phase 2 - Building on the baseline and bringing collaborators (‘early adopters’) on board – this would have more extensive funding that will be provided by key players in the London Market.
Phase 3 - Establishing InsurML as the de facto insurance contract standard (for policy wordings) and rolling it out across the market – funded by the London Market and a broader consortium of carriers, brokers etc.
We have already received commitment from key players in the insurance industry to move forward with Phase 2 later in the year.