April, 2003 (Toronto) iter8 Incorporated has successfully completed a major technology project involving electronic data interchange for CGU Insurance Company of Canada, one of the country�s leading property and casualty insurers.
Through its communic8 solution, iter8 has given CGU the ability to perform CSIO EDI upload and download through one single application. communic8 is a server-based application with interfaces to MQ series and CSIOnet. Data to and from the interface is seamlessly transformed into a format that can be used by multiple line of business systems. The application can be maintained by CGU without reliance on iter8.
communic8 provides additional benefits, through the use of XML. It can call and format any source third party report data like Global API (GAPI) and provide CSIO portal connectivity, making it exceptional in the industry. For ease of maintenance, it automatically updates the policy management systems interface to accommodate external changes, such as the addition of new data elements or codes.
�We picked iter8 because they said they could provide a CSIO EDI upload/download solution in less than six months,� says Doug Hewitt, Head of Ecommerce, CGU Canada. �And, working together, we accomplished that goal. We made a strategic decision to pursue a cost effective and functional EDI solution that benefits both us and our brokers.�
Hewitt adds that CGU expects a significant return on investment this year as it winds down the former third party service.
�We demonstrated that we can deliver EDI upload/download solutions on time, on scope and on budget,� says Glen Piller, iter8�s president and CEO. �This allows CGU to continue to deliver outstanding service to their broker force.�
Piller notes that other insurance companies face similar situations in their EDI upload/download environment. �Many insurers struggle with high transaction costs, complex mapping changes and delays in updates to CSIO standards,� says Glen Piller, iter8�s president and CEO. �We offer a cost effective and proven solution that can be implemented quickly.�
CGU Insurance Company of Canada has been insuring Canadians since 1906, growing to become the largest property and casualty insurer in 1997. Through a network of independent insurance brokers, CGU provides a broad range of products, enhanced by value-added services to its policyholders. In addition, to the traditional personal and commercial products, CGU underwrites a number of specialty niche products in partnership with independent insurance brokers.
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.
For more information, please visit www.iter8.com.