Toronto, ON (May 27, 2020) – On Tuesday, May 26, CSIO hosted its 2020 Members’ Governance Meeting virtually, bringing together industry partners across Canada. The meeting included highlighting the accomplishments achieved by CSIO in 2019, the introduction of a new board member – Tatjana Lalkovic, Enterprise Chief Information Officer, Economical Insurance – to the Board of Directors, and remarks from Catherine Smola, President and CEO of CSIO, and Cam Loeppky, Chairman of the Board of Directors. Collaboration within the industry was a consistent theme.
Mr. Loeppky, chairing his inaugural governance meeting, commended the industry for its ability to adapt quickly during the global pandemic. “Without the possibility of face-to-face meetings, insurers and brokers alike have adopted or heightened their use of digital tools, including CSIO’s My Proof of Insurance (MPOI), to ensure consistent customer service and continued innovation,” says Loeppky. “It’s been a challenging time to navigate but I’ve been very impressed with our industry’s resilience.”
Catherine Smola spoke on the successes CSIO had over the course of 2019 and the role digital collaboration played to accomplish these.
Beginning with My Proof of Insurance, Smola highlighted the impact it made last year and how digital solutions can be a key differentiator. Four additional provinces approved electronic proof of auto insurance, and with My Proof of Insurance meeting each provincial regulator requirements, 30 insurers have endorsed the solution and over 700 brokerages have chosen it as their preferred method for sending eSlips.
“We saw impressive growth in the adoption of My Proof of Insurance. With the provincial regulatory approvals, brokers and insurers responded swiftly and diligently in providing customers with this digital experience,” says Catherine Smola. “We look forward to supporting additional members in implementation of the solution.”
In line with the group’s mandate to progress real-time quoting, the Commercial Lines Working Group completed a milestone in finalizing the questions required to quote most small contractors’ business. Critical to the foundation for straight through processing, this was a significant step in implementing Commercial Lines Data Standards in the broker channel because it allows for frictionless data exchange between insurer and broker systems.
Smola also discussed the INNOTECH Advisory Committee. Formally launched in August 2019, the Committee includes insurer, broker, and IBAC representation and was brought together to leverage the power of collaboration to solve common industry pain points. With a 2020 roadmap identified, the Committee has outlined goals focused on improving claims and billing notifications, and enhancing API industry standardization.
Lastly, Smola touched on the launch of the CSIO Digital Broker eLearning Program. An important broker resource for continuing education, the program offers free, accredited and on-demand courses in relevant, technology-based subjects with lessons that can be applied immediately.
You can read CSIO’s Annual Report for more information on 2019 highlights.
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)