Brokers Association Applauds Progress Made by CSIO’s INNOTECH Advisory Committee

Toronto, ON (Mar. 18, 2020) – The Insurance Brokers Association of Canada (IBAC) applauds the progress made by the Centre for Study of Insurance Operations’ (CSIO’s) INNOTECH Advisory Committee and their collective efforts in solving common industry pain points. The work of the Committee is not only expected to help brokers remain competitive in the changing face of today’s P&C industry but also enhance their ability to improve their customers’ experiences.

Since launching last August, the brokers and insurers on the INNOTECH Committee have worked collaboratively and agreed on major operational issues and challenges, identified potential solutions and recently shortlisted proposed solutions for working groups to further investigate to determine requirements. Once completed, a business case for solutions will be presented to the CSIO Board of Directors for approval.

“IBAC stands behind the INNOTECH Advisory Committee and commends what they have accomplished in a short period of time to unlock efficiency potential. Ultimately, this will help brokers make more productive use of technology and automate manual work, allowing them to spend more time focusing on the client relationship,” says Peter Braid, IBAC’s CEO. “The INNOTECH Committee is a tremendous asset to the industry as we embark on this transformational journey.”

Kim Opheim, IBAC Broker Technology and Innovation Consultant and INNOTECH Advisory Committee member added, “It is an honour to work with this committed group of industry professionals who have set aside their own agendas in the interest of improving the broker channel for the benefit of our customers. The experience is helping us all to see industry challenges through each other’s eyes so that effective solutions can be developed.”

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.

About the Insurance Brokers Association of Canada (IBAC)

Founded in 1921, the Insurance Brokers Association of Canada is the national voice of over 38,000 property and casualty insurance brokers, advocating for the interests of both insurance brokers and consumers to the Government of Canada. The Broker Identity Program (BIP) was launched in 1988 to promote the value and professionalism of the insurance broker to consumers, insurers and governments. For more information, visit www.ibac.ca.

SOURCE: Centre for Study of Insurance Operations (CSIO)

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