Toronto — September, 2002 — Gore Mutual Insurance Company has successfully completed the first phase of a comprehensive business improvement and technology project. iter8 Incorporated was a key technology contributor to the project.
“In just nine months, we have been able to integrate a number of technologies and get the pieces to run together,” says Richard Meertens, Vice President of Information Services for Gore Mutual. “We had teams from Gore Mutual, iter8 and another vendor working together on this challenging project.”
Gore Mutual’s underwriting process for personal auto insurance is now more automated through these technology enhancements and includes an underwriting filter developed by Iter8. By defining underwriting rules and automatically identifying exceptions, Gore Mutual can process policy applications more efficiently and accurately.
“We know this technology will give us the benefits we need.” He estimates that, within five years, Gore Mutual will achieve a dramatic increase in automatically processed transactions.
Gore Mutual also used iter8’s technology for the request and storage of verification information, such as motor vehicle, driver, prior history and other records. These reports are now ordered and analyzed automatically through a single interface to Gore Mutual’s policy management system, using iter8’s communic8 and valid8 solutions.
“In the past reports, such as MVRs and Autoplus, were ordered and entered manually. This was time-consuming and prone to error,” Meertens says. “Now that our fields are updated automatically and the reports analyzed electronically, report ordering is much more efficient.”
“This is a real-life example of how our technology expertise and applications can help insurance companies,” says Glen Piller, President and CEO of iter8 Incorporated. “We have worked with Gore Mutual to produce a flexible solution that improves underwriting and cuts costs.”
About Gore Mutual
Gore Mutual Insurance Company is Canada’s oldest federally licensed mutual property and casualty insurance company, celebrating over 160 years of quality service to Canadians, working exclusively with brokers. The Gore Mutual motto, “By Canadians for Canadians,” makes clear the Company’s origin as well as its position with respect to future opportunities. Gore Mutual’s head office is located in Cambridge, Ontario. Regional offices are located in Cambridge and Vancouver.
About iter8 Incorporated
Headquartered in Toronto, iter8 is a key provider of online and back office business solutions for the insurance industry. iter8 enables insurance companies to provide their distribution channels the capability to quote, bind, sell and make policy changes online in real time, while consistently applying their underwriting and rating rules. For claims, iter8’s solutions allow insurance companies to achieve superior results in loss ratios, expense costs and customer service by automating claims rules and workflow. Through iter8’s innovative Definition Driven Development (D3) methods, insurers can solve the maintenance and integration issues that multiple technologies and programming languages create, ensuring rapid implementation and quick return on investment.