Toronto, ON (Feb. 8, 2016) – The Centre for Study of Insurance Operations (CSIO) is pleased to release a new legal advisory report to support the broker channel in adopting eSlips, electronic proof of auto insurance in place of traditional paper pink slips. CSIO commissioned Fasken Martineau LLP to produce the report, entitled eSlips: E-Delivery of Motor Vehicle Insurance Liability Cards, which provides an overview of legislation requiring pink slips, describes case studies from jurisdictions that have permitted eSlips, and identifies opportunities for legislative change in Canada.
Industry benefits of eSlips include significant cost savings on printing and mailing insurance documents, and providing electronic communications that meet the expectations of today’s evolving consumer. Additionally, updated legislation could potentially permit consumers to store and display eSlips on their electronic devices instead of carrying a paper copy.
Currently, pink slips are required in Alberta, Ontario, the Maritimes, Nunavut, Yukon Territory and Northwest Territories.
“Consumer demand for paperless solutions has evolved much more quickly than government regulations in many areas,” says Catherine Smola, President and CEO of CSIO, “and eSlips is one such area. eSlips are a natural extension of CSIO’s eDocs and eDelivery solutions, and will enable the broker channel to overcome a significant obstacle in adopting technologies that reduce costs and improve the customer experience.”
For more information and to read the eSlips advisory report, visit www.csio.com/eslips.
About Centre for Study of Insurance Operations (CSIO)
CSIO is Canada’s industry technology standardization association of property and casualty insurers, software providers and over 35,000 brokers. CSIO is committed to improving the consumer’s ease of doing business within the broker channel by overseeing the development, implementation and maintenance of technology standards and solutions such as eDocs, Telematics, eDelivery and eSignatures. In addition, CSIO operates CSIOnet, a secure, industry-owned platform for the efficient exchange of policy information for the broker channel. CSIO maintains offices in Toronto and Montreal. For more information, visit csio.com.
SOURCE: Centre for Study of Insurance Operations (CSIO)