Winnipeg, MB, September 5, 2007 – Custom Software Solutions Inc. and The Wawanesa Mutual Insurance Company are pleased to announce the general release and availability in Ontario of auto and habitational electronic data exchange (I-Biz) providing the broker with full electronic processing of renewal, endorsement, cancellation, reinstatement and new business. This advanced upload and download capability is provided through the single entry multiple company interface (SEMCI) of Custom Software Solutions Inc.’s (CSSI) “The Brokers Workstation” utilizing its I-Biz and Intelliquote (IQ) tools.
Over 150 broker offices throughout B.C., Alberta, Manitoba, Saskatchewan, and the Maritimes are using I-Biz for full electronic processing on all Wawanesa auto and habitational transactions. With I-Biz, Brokers have the ability to process new business, make any endorsement changes required to existing policies, cancel polices or make changes to renewals from their office without any assistance from Wawanesa Underwriters
“Initial feedback from Brokers running I-Biz has been very positive”, said Scott Andrew, CEO of CSSI. “Typically, Brokers report a 100% increase in productivity by volume and up to 30% reduction in overall expense. These productivity gains and operating cost savings have resulted in over 30% net profitability by brokerage offices. The system has demonstrated a high percentage of straight through processing. This means the broker gets “next day” turnaround on most transactions.”
“Wawanesa has always been committed to the development and ultimate implementation of Broker/Company Interface”, said John Bjornson, Vice President of Marketing and Property Underwriting of The Wawanesa Mutual Insurance Co. “Over the years we have supported a number of industry initiatives in addition to continuing the development of I-Biz with Custom Software Solutions. We are pleased to see the positive impact I-Biz is having in other areas of the country and we are excited that we will now be able to offer I-Biz to our Ontario Brokers.”
About Custom Software Solutions
Custom Software Solutions Inc. (CSSI) was founded in 1991 and is a leader in the development and delivery of information technology and business process automation systems for Insurance Brokers and leading Insurance Companies such as Aviva, Economical, ING, Royal Sun Alliance and Wawanesa. The company’s proven Broker products, The Broker’s Workstation, Intelliquote, I-Biz, and Insurance Company Products, I-Company, I-Broker, and I-Biz, are today providing significant efficiency gains leading to increased productivity and decreased operating expenses for both Broker and Company users. CSSI boasts a team of highly experienced programmers, insurance industry professionals, and certified computer technologists. CSSI services its growing clientele of Brokers and Insurance Companies from its offices in Virden, MB. For more information, visit Custom Software’s website at www.cssionline.com.
The Wawanesa Mutual Insurance Company is the largest P+C mutual insurance company in Canada in terms of capital and surplus. The company’s financial strength is rated consistently as A+ (Superior) by A.M. Best Co., the world’s oldest and most authoritative insurance rating and information source. For more information, visit Wawanesa’s website at www.wawanesa.com.