May 20, 2008 – Calgary, Alberta – In the past, electronic commercial-lines data exchange between a single broker system and multiple insurers has been regarded as a near impossibility. As of today, however, this impossibility has become reality. The newest release of Policy Works, version 6.2 with eMarketing, is the first commercial management system (CMS) to enable brokers to exchange commercial-lines data electronically with four insurers: ING Insurance Company of Canada, Gore Mutual Insurance Company, Aviva Canada Inc. and Royal & Sun Alliance Insurance Company of Canada.
The Policy Works eMarketing functionality enables brokers to both upload and download commercial policy and quotation information. With this release, Policy Works Inc. customers are now uploading submissions directly from Policy Works to four insurer quoting sites: ING�s SaversCL™, Gore Mutual�s GoBroker™, Aviva�s Fastrax™, and Royal & SunAlliance�s Rapid eQuote®.
ING brokers are also downloading their commercial quotations directly into Policy Works. Regardless of the mode of entry used to obtain an ING new business quote (click, call or fax), the quote details can be downloaded into a broker�s Policy Works system.
�Our vision at Policy Works Inc. has always been to link brokers and insurers electronically and our new eMarketing module is a substantial first step. We are reducing data re-entry for our commercial brokers and insurers through the electronic exchange of commercial-lines data,� states Kevin Campbell, President, Policy Works Inc. �Exchanging commercial-lines data with multiple insurers is a difficult problem and we want to thank our four insurer partners for having the vision and fortitude to work with us on it. Together we are improving the broker distribution channel.�
All four integrations are based on the Centre for Study of Insurance Operations (CSIO) XML commercial-lines standards. �CSIO strives to develop and publish comprehensive commercial XML standards. We at CSIO are extremely pleased with the outcome and support of implementation of these standards by Policy Works,� states Steve Kaukinen, President, CSIO.
Insurer partners, as part of the Policy Works Certified Data Exchange Partner (CDEP) Program, are required to use the CSIO XML standards to facilitate data exchange. The Policy Works CDEP Program ensures the accurate, reliable, and secure exchange of commercial lines data.
About Policy Works Inc.
Since 1992, Policy Works Inc. has been leading the development of Commercial Management Systems (CMS) for the Canadian insurance industry. Policy Works streamlines the commercial-lines workflow to manage the entire policy lifecycle efficiently and effectively.
Policy Works Inc. is a pioneer in the field of electronic commercial-lines data exchange. To ensure the accurate, reliable, and secure exchange of commercial lines data, Policy Works Inc. established its Certified Data Exchange Partner (CDEP) Program. Each insurer in this program works with Policy Works Inc. and, using the CSIO XML commercial-lines standard, is working to improve the independent broker distribution channel. More at www.policyworks.com.