By Wendy Watson, Vice President Operations, The Precept Group Inc.
Spring has arrived… a time of possibilities. Time for the launch of ORBiT!
ORBiT: Ontario Real Time Brokers in Transition. The name is a bit of misnomer, because ORBiT is actually an industry committee focused on Real Time workflows.
What is unique, is that this committee is made up of all the stakeholders in the broker distribution channel, who recognize that for brokers to remain viable, we have got to do things differently.
Insurance-Canada.ca at an industry Technology Conference in February 2009 provided an opportunity for ORBiT to share their purpose, core values, goals and working groups with the industry. Here�s a summary of the information shared. The presentation is a click away if you want to learn more.
- Educate brokers on Real Time and provide information on what tools are available so they can make an educated decision on how to improve their workflows
- Focus our industry stakeholders on workflow issues to help the broker channel remain profitable in an environment where we are losing market share to the direct writers and other entrants into the industry
- Identify bottlenecks in typical insurance transaction workflows and develop priorities in which to remedy the bottlenecks
Of common purpose is the basis of ORBIT. With that in mind, the remaining core values of the committee are:
- It is about workflows, not technology, so members are required to check their system at the door, to be able to keep an open mind to improve Real Time for the industry
- We will not put one BMS/Vendor ahead of another.
- All recommendations for Real Time workflows must be SEMCI � single entry multi-company interface
- All transactions follow CSIO standards, including the data format standard and the data transport standard
- All transactions must start and end in the heart of the brokerage, the BMS
- To educate all stakeholders on Real Time workflows
- To have all stakeholders work together to implement Real Time workflows and solutions to improve efficiencies, improve service levels, reduce costs and improve profitability and increase sales.
- To facilitate more open communication between all stakeholders
- To create a forum for brokers to speak with a unified voice
- To work with CSIO to continually improve standards for all lines of business
Working Groups have representation from all stakeholders involved.
- Brokers from each BMS; one per work group
- Representative(s) from the major BMS’s
- Representative(s) from the vendors working between carriers and BMS
- Representative(s) from each carrier
- IBAC representative
- IBAO representative
The working groups are as follows:
- Password Management
- Real Time payments
- Real Time inquiry for billing, policy and claims, with a return document to be attached to our BMS
- Clean download
- Renewal PDF downloads
- Commercial Lines
- New Business
- Policy Change
What Role Can You Play?
Having brokers from all broker management systems, from across this great Province actively involved in ORBiT is key. We are in need of brokers from the GTA, Ottawa area and Northern Ontario, plus those who use the following systems: