Toronto, ON (Apr. 15, 2016) – The Centre for Study of Insurance Operations identified technology adoption as a driving theme for the broker channel in 2016 at its annual Members’ Meeting & Reception, held at The National Club in Toronto on April 14, celebrating the industry’s success stories while underscoring challenges and opportunities that lie ahead. The event saw record attendance, and was the first to be live streamed for members from coast to coast.
The adoption of industry standards continues to be an area of strength, with nine companies achieving CSIO Certification in Personal Lines eDocs, Commercial Lines eDocs, and eDelivery in the past year. eDelivery is of particular importance, enabling members to extend the benefits of standards directly to consumers by sending personal lines eDocs to insureds through Canada Posts’s epost service. Two insurers received eDelivery certification, with more expected in 2016.
CSIO also presented its inaugural Technology Leader awards, recognizing the 21 brokerages across Canada who received 100% on the CSIO Technology Scorecard. The scorecard, launched earlier this year, evaluates brokerages based on nine areas of technology implementation. CSIO congratulates the Technology Leaders of 2016.
Underscoring the importance of technology for the insurance industry was keynote speaker Sanjay Gosalia, Head of Industry, Financial Services at Google. His address on “The Digital Journey: How Technology is Changing the Way Consumers Purchase Insurance” was well received, and served as inspiration for the broker channel to continue adopting and leveraging consumer-focused technology in 2016 and beyond.
Last, the Board appointed two new Directors: Steve Earle, Vice President of W.C.L. Bauld Insurance Brokers, and Bruno Fortin, President of J. Gérard Fortin & Associés Inc. They replace outgoing Vice-Chair Ted Harman, President of Accent Insurance Solutions, and Bill Simms, Director of Crosbie Job Insurance. CSIO welcomes Steve and Bruno, and wishes Ted and Bill well in their future endeavours.
“This has been an exceptionally ambitious year for not just CSIO, but the broker channel as a whole,” says Catherine Smola, President & CEO of CSIO. “The appetite for certification among carriers and vendors has been tremendous, and as evidenced by the Technology Leader awards, more and more brokers are adopting the leading-edge technologies that modern consumers expect. CSIO will continue to fulfill its industry role as a body for forms, standards, and support for the adoption of technology to improve the consumer’s ease of doing business within the broker channel.”
About Centre for Study of Insurance Operations (CSIO)
CSIO is Canada’s industry technology 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)