Toronto, Canada – September 2001 – MGIC is
pleased to announce that it has been chosen as one of the 3 insurance companies in Canada
to move into the testing phase of the new CSIO Insurance Portal. The Portal will provide
on-line real-time guaranteed quotes over the Internet to independent brokers through a
standardized web interface.
The CSIO Insurance Portal takes full advantage of the
various existing industry-wide CSIO standards (EDI upload/download, Web screen, PDF forms
and XML standards) by integrating them all to produce the “holy grail” of the
property and casualty insurance industry: a true Single-Entry-Multi-Company-Interface
(SEMCI) solution that is accessible by all brokers and accessible to all insurers.
“MGIC already leads the industry in providing complete
on-line real-time policy issuance, policy change, billing and claims capability to our
independent broker network,” says Debbie Olsen, Senior Vice President of Operations
at MGIC. “Of course, it wouldn’t have been possible without our technology
partner, Sherwood International, working with us on our leading-edge business solutions”.
“Using the CSIO Insurance Portal to quote MGIC
products adds the extra feature of standardized comparison quoting without double entry
that is so vital to the productivity and service capabilities of our broker partners.
Improving the efficiency of the broker distribution channel remains one of the guiding
principles of our organization,” says John McGlynn, President and CEO of MGIC.
Markham General Insurance Company launched in October 1999
as a service-oriented company providing select property and casualty insurance products
through a network of independent brokers. MGIC is dedicated to improving the overall
profitability of the broker distribution channel for all participants. Through the support
of its broker partners, MGIC is on track to achieve its 2001 GWP goal of $80 million.