Toronto, ON (Oct. 19, 2013) – The Centre for Study of Insurance Operations has been working for the past several months to deliver a telematics data standard for the industry and is pleased to announce the standard will be released in January 2014.
Telematics devices record and transmit information about driver behavior. By recording factors such as where, when, and how often vehicles are driven, insurers can develop specific insurance programs and pricing to more accurately reflect driver characteristics. This information can offer the consumer many benefits, including discounts and potentially safer roads. The new CSIO telematics standard will provide a secure way of transmitting telematics information between multiple business partners, enabling data quality and consistency across the industry.
�Telematics is rapidly becoming an important technology for the auto industry and in order to fully realize the potential of this technology, a data standard is necessary,� says Catherine Smola, President & CEO of CSIO. �CSIO is committed to delivering a telematics standard that meets the needs of the industry and helps support our members as they continue to provide value-added benefits to their customers.�
Visit www.csio.com/telematics to learn more about CSIO and its upcoming telematics standard.
About Centre for Study of Insurance Operations
CSIO is Canada�s national standards association of property and casualty insurers, brokers and software providers. For over thirty years, CSIO has been committed to improving the efficiency and competitive position of the broker distribution channel by overseeing the development, implementation and maintenance of industry standards in the areas of XML, EDI and forms. In addition, CSIO continues to maintain and operate the industry-owned EDI mail network service, CSIOnet. CSIO maintains offices in Toronto and Montreal. For more information, visit www.csio.com.
SOURCE: Centre for Study of Insurance Operations