Toronto, ON – March 10, 2010, After three months of testing, the Insurance Brokers Association of Ontario (IBAO), SCM Risk Management Services (RMS) and Compu-Quote are pleased to announce they are conducting a pilot study of the iClarify data validation services to 30 Ontario brokers across the province within the Compu-Quotes comparative rating application.
IBAO brokers from across the province will be the first to implement iClarify services that will pre-populate data elements necessary to generate an accurate replacement cost and provide streetscape imagery of the residence being quoted. Not only is the quoting process more efficient and streamlined, but the service will dramatically increase insurance to value accuracy for new policies being bound.
“This is an important step towards the release of a working product into the hands of our Brokers,” stated IBAO CEO Randy Carroll. “iClarify will provide Brokers with a data valuation tool that will assist them in providing more accurate valuations and the addition of streetscape imagery is an added bonus and a great use of modern technology.”
“Compu-Quote is very proud to have collaborated with RMS on the development of iClarify,” stated Brian Schwab, of Compu-Quote. “We are excited to be the only vendor delivering this exciting technology to the Broker community at this time. This will be a significant step forward in improving not only the quality of ITV data but improving underwriting accuracy as well.”
“We are pleased that the iClarify development and roll out strategy has remained on schedule,” said Greg McCutcheon, President of RMS. “It is our goal to provide broker�s access to our data validation services across Canada throughout 2010.”
It is anticipated that the pilot will run a period of 45 days at which time access to all brokers in Ontario will be launched.
The Insurance Brokers Association of Ontario (IBAO) is a �not for profit� association that represents and serves the interests of over 10,800 independent Property & Casualty Insurance Brokers in the Province of Ontario. For information about IBAO, visit www.ibao.org
SCM Risk Management Services is an SCM Company. SCM is Canada�s largest independent, privately-owned supplier of insurance services. Together, SCM companies deliver an uncompromising commitment to innovative technology, expert staff and solid customer service. For more information about RMS, please visit www.scm.ca.
Since 1983, Compu-Quote has been Canada�s leader in underwriting and rating software and related services. A pioneer in the industry that continues to deliver innovative solutions for insurance companies, brokers, actuaries and providers of insurance products for consumers through the web. Compu-Quote integrates with third party data providers, as well as Canada�s leading broker management systems and company mainframe technology. www.compu-quote.com