Toronto, ON (Mar. 10, 2020) – The CSIO INNOTECH Advisory Committee met on February 28 for another full-day working session where committee sub-group members presented their recommendations on potential solutions to address industry pain points identified at the last meeting.
Each presentation generated robust discussions as the committee deliberated on each proposed solution’s viability, cost effectiveness, implementation efforts and the key benefits stakeholders will experience should the solution be realized.
The Committee approved moving forward with solutions proposed to improve claims and billing notifications and API industry standardization. Next steps, working groups will be formed for each approved solution consisting of subject matter experts (SMEs) from member organizations. These working groups will create a business proposal with defined requirements, use cases and to quantify the value the industry can expect should each solution be implemented. Once completed, the business cases will be presented to the CSIO Board of Directors for approval.
“We’re working to make the entire insurance experience better for our valued customers and industry partners,” says Derek Ward, Director, Innovation Lab at Wawanesa Mutual Insurance. “It’s been very beneficial to collaborate with industry peers in order to do a deep dive into proposed solutions and assess them as a group. Because of all the hard work by the committee, we now have a course of action to move the solutions forward.”
Learn more about the INNOTECH Advisory Committee:
- Watch this video to hear from committee members about why they think the initiative is important and how it can resolve common pain points through industry collaboration.
About Centre for Study of Insurance Operations (CSIO)
CSIO is Canada’s industry association of property and casualty insurers, service providers and over 38,000 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 My Proof of Insurance, eDocs, and eSignatures. In addition, CSIO operates the industry-owned 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 (CSIO)Tags: API, billing, Centre for Study of Insurance Operations (CSIO), claims, working group