Toronto, April 2007 — iter8 Inc., an insurance solutions software developer, and the Canadian Association of Mutual Insurance Companies (CAMIC) are pleased to announce a partnership agreement whereby iter8 will offer software solutions to the 95 members of the CAMIC organization by providing specific incentives, terms and conditions. iter8 will provide the module communic8, which handles Broker – Insurer connectivity and automation functionality. The partnership will present CAMIC members with access to software solutions that addresses their operational needs, enabling them to improve efficiency, control costs, and most importantly enhance already high levels of customer service.
The CAMIC – iter8 partnership will provide great value to CAMIC members as iter8 software solutions can facilitate better, more accurate quoting, rating, and underwriting. communic8 enables the brokers to have choice and flexibility in how they deal with the mutual insurer by enhancing the ease with which they can do business, and by improving the business process.
With several CAMIC members currently using or expected to use iter8’s software the cost of providing the service has been reduced and the implementation process simplified.
Normand Lafreni�re President of CAMIC, architect of the partnership, commented, “We undertook this agreement with iter8 so that we could achieve economies-of-scale and secure the best possible pricing for all our members. We are excited that we can make this powerful software product available to a broad range of our members, and help them improve overall service levels.”
Tim Scurry, Senior Vice President of iter8, had this to add, “Normand’s efforts to develop this partnership with iter8 has resulted in a win-win agreement. CAMIC secures very favourable pricing, and Professional Services rates that are based upon the large client base, while iter8 has the opportunity to extend its software into customers that traditionally would not have been able to take advantage of our Broker Connectivity and EBU suite. Members of CAMIC will be able to offer their brokers clear choice in how they work together. “
The Canadian Association of Mutual Insurance Companies is a trade association of property and casualty insurance companies formed as mutuals. Its role is to provide information, research and advocacy to its members in areas of general concern and to negotiate supply agreements for goods and services of common needs. There are currently 95 farm mutual companies that are members of CAMIC. Together these member companies serve 3.9 million policy holders and underwrite $4 billion in premiums. They have a 12% market share of the Canadian P&C market. Their niche market is rural and small town Canada where they have a significant share of the total P&C market and a majority market share of the Canadian farm market. Together CAMIC companies employ 14,000 managers, employees and agents. To contact CAMIC please visit www.camic.ca
iter8 is a market leader in offering strategic insurance solutions that are implemented on a business process management (BPM) platform. Our innovative combination of strategy, rules and workflow helps insurers reach their goals faster. We have a track record of successfully streamlining insurance processes, improving time to market and saving company’s money. Founded in 1999, iter8 has implemented proven, functional exception based underwriting (EBU), claims management and data management solutions for insurers ranging from leading multinational companies to highly profitable niche firms. For more information, please visit www.iter8.com.