September 2011: iter8, an insurance solutions software developer is pleased to announce that Saskatchewan Mutual Insurance Company (SMI) has selected iter8 as the technology partner on their independent broker download initiative for multiple broker management systems, including solutions from Applied Systems, Keal and Zycomp. The iter8 solution communic8 will be implemented to enable independent brokers to receive accurate, complete download services.
SMI operates in Alberta, Saskatchewan and Manitoba, providing personal property and automobile coverages, commercial lines packages, including business insurance, contractors insurance, and general commercial policies, and farm policies. Distributing exclusively through independent agents, Saskatchewan Mutual Insurance plans to undertake several new technology initiatives in the next few years, with download as a first effort to address the needs of its broker partners.
Denise Thiessen, Vice President of Underwriting and Marketing stated, “Maintaining strong relations with our brokers is critical to our success. This means we need to invest in technology to facilitate their ease of doing business, and improve the connectivity between SMI and the broker. iter8 is the right partner for us, with a wealth of expertise in this area and a proven track record, and we are looking forward to a successful on-time, on-budget result.”
The project is to begin immediately, and a fast implementation is planned. iter8 will use communic8 to extract and format data from SMI’s current policy administration system, and integrate with the CSIO standards. Brokers will receive accurate and timely download information to align their broker management systems with core SMI data.
Glen Piller, President and CEO of iter8 commented, “We are extremely pleased to be working with SMI on this important technology project. iter8 has worked for many years to enhance broker connectivity, including upload and download services, and broker and consumer facing portals, all of which help P&C carriers deliver efficient, customer service to brokers and policy holders.”
About Saskatchewan Mutual Insurance (SMI)
SMI is a federally licensed property & casualty insurer operating successfully in Alberta, Saskatchewan and Manitoba with annual written premiums of over $45M. SMI, with a staff of approximately 65, serves its policyholders through the independent brokerage system. Its head office is located in Saskatoon with service offices in Calgary, Edmonton, Regina and Winnipeg.
In January 2011, AM Best assigned SMI an A- (Excellent) financial strength rating. The ratings and outlook for SMI are reflective of the company’s strong risk-adjusted capitalization, favourable balance sheet liquidity measures and modest underwriting leverage. (For full rating information visit www.ambest.com.) SMI has prospered for over 100 years, providing security and service to its policyholders.
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 Agent Portals, Agent 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.
For more information, please visit www.iter8.comTags: iter8, Saskatchewan Mutual Insurance (SMI)