sigXP and communic8 to Offer Brokers Enhanced Connectivity Functionalities
TORONTO – April 28, 2011 – Keal Technology and iter8 are pleased to announce they have formed a partnership to deploy real-time broker connectivity between Keal’s Broker Management Software (BMS) solution and iter8’s communic8 software. The standards based solution will enable independent brokers to easily upload data from the Broker Management System to the carrier in a fast, easy-to-use, cost-effective manner. Both Keal and iter8 are committed to SEMCI (Single Entry Multiple Company Interface) as the long-term solution to maximize broker workflow efficiencies.
Keal Technology president Pat Durepos stated, “We are pleased to be able to move quickly to meet the communication needs of our brokers for sigXP upload. iter8’s communic8 solution clearly demonstrated the capability to facilitate SEMCI communication. I was impressed by the existing insurance carrier activity using communic8 for CSIO/ACORD XML upload and download in addition to traditional EDI (Electronic Data Interchange) communication and the resulting data integrity with iter8 software products. I believe that this new partnership will provide uninterrupted replacement of Nexisys/NexCenter connectivity functionalities, and deliver greater functionality at a faster pace than what we have seen. SEMCI is an important aspect of Keal’s vision to make brokers play on a level technology playing field with direct writers and banks.”
The first priority is to deliver new business upload and inquiry for auto and property by June 15th, 2011. Keal’s Broker Management System sigXP currently offers single sign-on built into the application. Data extracts from sigXP will be transformed by communic8 and provided to carriers in their format of choice. The next phase of the integration will include endorsement/policy change scheduled for later this year, and future phases will include commercial lines connectivity for Keal’s Commercial Management System (CMS) comXP. Keal and iter8 support the goals outlined in the Insurance Brokers Association of Canada (IBAC) Data Exchange Project currently underway with multiple BMS vendors and insurance companies. All development will adhere to IBAC’s guiding principles to streamline broker and carrier communication.
communic8 is the reliable solution choice to support sigXP as it is a proven solution having served insurance carriers and brokers for over 10 years. communic8 is in use at numerous Canadian P&C carriers, providing data transformation and integration services with carrier portals, policy administration systems, third party reporting systems, broker management bridging systems, and third party rating systems. It can support the IBAC initiative of starting and finishing in the BMS. It is ideally suited to integrate with sigXP, and ensure brokers can stay within their BMS to upload data directly to multiple carriers.
Glen Piller, president and CEO of iter8 commented, “Keal Technology is the developer of one of the leading Broker Management Systems in the country. We are extremely pleased to be able to work directly with Keal, draw upon relationships with most of Canada’s P&C carriers, and develop a solution that will facilitate both broker and carrier growth and efficiency.”
Keal Technology is a leader in BMS (Broker Management Systems) and CMS (Commercial Management Systems) in the Canadian marketplace for insurance and financial services brokers. Keal offers an integrated suite of products designed to increase revenue through efficient use of technology. Visit www.keal.com.
iter8 Inc. is a software solutions provider to the Property and Casualty Insurance industry, its products designed to increase profitability by solving problems � centered on Broker Portals, Broker Connectivity and Underwriting Operating Excellence � through smart innovation and proven expertise in both the insurance business and in technology, implementation, and service. A dynamic, creative company, iter8 has a track record of successfully streamlining insurance processes, improving time-to-market, and saving companies money. Visit www.iter8.com.