TORONTO, Jan. 10, 2011 – Canada Life is now offering a new Canadian Insurance Transaction Standardization (CITS)-approved “inforce” data feed to managing general agencies (MGAs) and national accounts that do business with the company.
The introduction of a CITS inforce feed, in conjunction with the company’s existing CITS “pending” business-to-business (B2B) feed, enables distributors to easily get the information they need about both their inforce and pending business with Canada Life and integrate it into their own back-office systems.
“We are very pleased to offer this new inforce feed along with our existing pending feed. In providing this comprehensive, one-stop value-added service, we’re being responsive to the needs of our distribution associates,” said Phil Marsillo, Senior Vice-President, Canada Life Distribution. “It’s part of our ongoing focus on making it easier to do business with Canada Life, and helps enhance the strong relationships we have with our distribution associates.”
B2B feeds provide information about clients’ existing (“inforce”) individual life and living benefits insurance polices; and status on pending new business for individual insurance products with outstanding underwriting requirements that need to be satisfied before the policies applied for can be issued.
All current feed recipients will have the choice of requesting the inforce feed beginning in February 2011. The inforce feed is currently being piloted with a small group of MGAs.
Canada Life launched a CITS-approved B2B pending feed in 2008. It has been providing pending feeds since 2003. Developing CITS-approved feeds is part of Canada Life’s active involvement in an industry initiative with the Canadian Life Insurance EDI Standards Association (CLIEDIS); the Canadian Association of Independent Life Brokerage Agencies (CAILBA); and MGAs and national accounts that do business with Canada Life.
About Canada Life
Founded in 1847, Canada Life was Canada’s first domestic insurance company. In Canada, Canada Life offers a broad range of insurance and wealth management products and services for individuals, families and business owners from coast to coast. www.canadalife.comTags: Canada Life