JCRS for Insurers

Jewelry Insurance Workshop (Jewelry 101)


Introducing JCRS Claims Solutions

Claims Mitigation

FREE Claims
Settlement Audit

Jewelry Replacement Services

Salvage/Recovery Services

Claims Estimating Software

JEMs® for Agents

XML Jewelry Standards

Jewelry Insurance Manual

Jewelry Insurance Issues Monthly Newsletter


Jewelry Insurance Standards

JCRS is the author and developer
of the ACORD/JISO Jewelry Standards and Forms

The problem: Unlike the insurance industry, which subscribes to its own ACORD Standards, the jewelry industry is fragmented among several different standards bodies, each with its own criteria. From a jewelry insurance point of view, that creates a problem; namely, which jewelry industry standards are the most useful for insurance purposes?

The process: Most people who purchase fine jewelry also purchase insurance. To properly insure an item of jewelry, an appraisal (or other documentation) typically accompanies the policy application. In turn, insurers use that information for making various determinations about the insurance coverage offered.

The result: Historically, and to a larger extent in recent years, many jewelry appraisals (if and when provided) have been notoriously inaccurate, incomplete, and inflated, resulting in three distinct concerns: 1) over-insuring the item of jewelry, which means 2) the insured ends up paying more for insurance than necessary, which can also mean that 3) the company overpays the jewelry settlement if a loss occurs and a claim is filed.

The JCRS Solution: Since its beginning in 1987, JCRS has championed the need for jewelry appraisals that meet insurance industry standards. JCRS authored and developed a number of products, programs, and services that eventually led to the adoption of the ACORD Jewelry Standards in 1997. These standards are so important that in 2005 they became part of an insurance industry trust, the Jewelry Insurance Standards Organization (JISO).

ACORD/JISO Jewelry Standards include several features:

Standardized forms for use by insurance professionals as well as certified appraisers and jewelers:

A Certified Insurance Appraiser™ training course that elevates the professional credentials of Graduate Gemologists with three years experience by training them to prepare jewelry appraisals to insurance industry standards.

A Jewelry Insurance Workshop (Jewelry 101, 8 hours C.E. credit) that trains agents, CSRs, underwriters, and adjusters in jewelry basics, industry practices, gemology fundamentals, appraisal practices, and ACORD Jewelry Appraisals.

XML Inland Marine Standards that facilitate electronic processing of information related to Inland Marine coverage.

Multi-part MIME attachments (non-text documents, such as photos of scheduled jewelry) to accompany electronic applications (within an ACORD XML message) for coverage.

The goal

Ultimately, ACORD and JISO Jewelry Standards, including the tools and training associated with them, enable the insurance industry to save money and improve customer satisfaction through efficient and effective jewelry insurance processing solutions.

Visit the ACORD site.  Visit the JISO site.