October 7, 2009 (Toronto and Saint John, NB) – The Insurance Brokers Association of Ontario (IBAO) and Brovada, a leading provider of broker to insurer connectivity, are pleased to announce a partnership that will see the IBAO’s member brokers receive preferred member pricing for the Brovada’s Nexpedite solution through their association.. IBAO will distribute the Brovada product through their for profit corporation Independent Broker Resources Inc.
Nexpedite is a companion application to Brovada’s highly successful Nexisys solution, which allows brokers to automate the transfer of data to Insurers by way of web services and web portals. To provide maximum connectivity Brovada created Nexpedite; a solution allowing brokers to create additional automated web portal transactions. This combination will allow brokerages automation of all web based transactions currently performed with the various insurance carriers they conduct business with.
Nexpedite also provides access to a community in which other Nexpedite brokers can share recorded transactions amongst one another. In addition to the Nexpedite community, the IBAO will also have a community of scripts that will benefit its membership.
“We are pleased to partner with Brovada to help provide increased transactional efficiencies to our member brokers,” said Paul Taylor, IBAO’s director of operations. “Through the associations for profit corporation, IBRI, we can provide a �better than street’ rate for the tool to our members, as well as access to an IBAO members’ only community of scripted transactions. We have watched Brovada’s development for some time, and while we are excited to partner with them to provide this product, we’re equally excited to take part in their current and future development of BMS to Insurer transactions without a website in the middle. ”
“Having the IBAO as a partner with Nexpedite is very gratifying as we both share the same vision; the end goal of a non portal start and end in the BMS, but while working towards this brokers should use whichever technology assists in providing them maximum productivity” states Karl Greenlaw CEO of Brovada “This is certainly a step in the right direction because as an industry we have all witnessed the negative effects of duplicate entry and multiple systems.”
About Insurance Brokers Association of Ontario
The Insurance Brokers Association of Ontario (IBAO) is a voluntary membership organization serving the interests of more than 10,000 independent insurance brokers across the Province of Ontario. Working together, we are able to build and maintain a business environment that allows individual brokerages to thrive. IBAO represents our members’ interests to government ministries and regulatory bodies, as well as to insurance industry commissions and associations. These bodies recognize us as the authoritative voice of Ontario’s independent brokers. IBAO also ensures that the needs of Ontario’s independent brokers are taken into account whenever the Canadian government or the insurance industry seek to introduce policy shifts that affect brokers across the country. Please visit us at www.ibao.com.
About Brovada Technologies
Brovada is a software provider specializing in business process integration, system conversions, legacy system integrations, and broker connectivity. Brovada has extensive knowledge of the standards within the insurance sector and its expertise is often sought by leading insurers to expedite the transition of data between systems. Brovada’s products result in substantial ROI for existing systems by harnessing their existing business logic and by supplementing them with needed functionality in a cost effective manner. Brovada has offices in Toronto, Moncton and Saint John, NB. For more information please visit www.brovada.com.