TORONTO, Ontario, Canada – May 10, 2012 – Keal Technology, software provider for Canadian insurance brokers, announces they are making available to insurers effective May 14th 2012 its Centre of the Study of Insurance Operations (CSIO) electronic document (eDoc) in CSIO XML format.
“eDoc was identified as a priority by brokers in October 2011 at the Association’s Annual Convention where brokers overwhelmingly advocated for standardized solutions over proprietary ones. Since October, CSIO, carriers and Broker Management Software (BMS) vendors, such as Keal, have made a collaborative effort and as a result CSIO released the much anticipated XML standard on March 1st,” said Catherine Smola, president of CSIO.
President of Keal Pat Durepos comments; “At Keal, it is our vision to work with all stakeholders be it brokers, insurers, the Insurance Brokers Association of Ontario (IBAO), the Insurance Brokers Association of Canada (IBAC) and CSIO for the benefit of our mutual broker clients. The more efficient brokers become, the better they will be equipped to decrease their expenses and thus increase their market share.”
Keal is presently working with CSIO and three insurers on the eDoc project and are welcoming other insurers to participate. Keal brokers will have the ability to download, via the CSIO EDI process, the requested policy documents and automatically attach them to activities and policies within their BMS sigXP, without any human intervention.
This functionality will be delivered to brokers with at least one insurer by Q3 2012. Initially, Keal will accept any available electronic communication from the insurer, such as policy declaration documents, loss notices and cancellation notices.
“I am excited and impressed with the interest and commitment we are getting from the different insurance stakeholders on this project,” said Keal’s Director of Development Bill Redford. Rick Orr, president of the IBAO added; “IBAO is delighted to hear the news of Keal’s release of their eDoc XML solution only three months after they made a public commitment to delivering it. This reaffirms our belief that when stakeholders are properly aligned we can work together to bring innovative solutions that drive real efficiencies into our channel. The savings for both brokers and carriers will allow us to better compete in years to come and the workflow efficiencies will allow brokers to better serve consumers.”
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, utilizing 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 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.