Broker Management System Ready Ahead of Schedule
TORONTO, Ontario, Canada – July 20, 2010 – Today, Keal Technology, software provider for Canadian insurance brokers, announces they have completed software development required to support brokers through the amended Automobile Insurance Regulations in Ontario taking effect September 1, 2010.
To comply with the FSCO Regulated Ontario Reform Standards, a special release of Keal�s Broker Management System (BMS), sigXP was developed and released to brokers ahead of schedule. The most significant change for brokers doing business with Ontario consumers is the requirement to use the Ontario Application for Automobile Insurance CSIO (0910E) form which is now available in sigXP.
Without the new auto application in the BMS, brokers� workflows will be more complicated, manual and potentially open to increased E&O exposure. Some insurance companies may not accept the old CSIO auto form, increasing manual work for the brokers to comply. In addition, the broker may not be able to identify the insured�s accident benefits coverages without the new form securely stored in the BMS.
“The auto reforms coming to Ontario have a significant impact on our clients,� said Renee Durepos, Vice President, Operations, Keal Technology. �Brokers need tools to efficiently and effectively provide outstanding service to consumers, and at the same time minimize errors and omissions exposure. We wanted to give our clients ample time to work with the new auto application as they prepare for September 1st.”
A special release of Commercial Management System (CMS), comXP, including the new Ontario Application for Automobile Insurance CSIO (0910E) is scheduled for release later this month.
Keal is a 100% Canadian software application developer exclusively servicing Canadian insurance and financial brokerages, in both official languages. Keal offers brokers an end-to-end integrated suite of management systems to streamline workflows and increase profitability. As a Microsoft Gold Certified Partner and Citrix Ready Partner, Keal products are technologically advanced and flexible, built on SQL architecture. Products include: broker management system, sigXP; commercial management system, comXP; document management and scanning, dokXP; life insurance management, lifeXP; and premium financing management, premiumXP. Keal is the exclusive distributor for Nexisys, providing a single entry multiple company interface (SEMCI). Keal was the recipient of a 2010 Insurance-Canada Technology Award recognizing the integration between sigXP and blueButler call recording software. Keal offers workflow consulting using industry best practices and partners with vendors and insurers to strengthen Canadian brokers. Keal is headquartered in Concord, Ontario with offices across the country. For more information visit www.keal.com.