Toronto, ON (Mar. 11, 2021) – CSIO is pleased to announce that the INNOTECH API Standards Working Group is moving closer to API industry standardization by defining use cases at its March 11 meeting. Representatives from Economical Insurance, Intact Insurance, Northbridge Insurance, RSA Canada, Travelers Canada, Wawanesa Insurance and the Insurance Brokers Association of Canada (IBAC) participated in the virtual session.
The Working Group’s mandate is to create an industry API standard in JSON and XML format leveraging CSIO XML Data Standards for personal and commercial lines of business to support adoption across the industry. The goal is to publish APIs leveraging CSIO Data Standards based on defined use cases requested by members.
Policy inquiry was selected by the INNOTECH Advisory Committee as the first use case, which was shared with the Working Group prior to the session. The Working Group made excellent progress defining and developing specific personal automobile inquiry use cases.
Insurer members of the Working Group have been asked to review the use cases with their respective organizations to ensure they meet the defined requirements, as immediate next steps. Once this is complete, CSIO will share the use cases with vendor members for input before publishing.
“Bringing together a variety of subject matter experts to progress API standardization ensures the solution is productive for all stakeholders,” says Kathryn Sinclair, Vice President, Strategy & Operations at CSIO. “In doing so, the INNOTECH API Working Group will help realize a seamless and efficient data exchange between insurers and brokers in real-time that will improve broker productivity and the digital experience for customers.”
Insurers interested in implementing the solution can visit the INNOTECH website for billing scenarios and to learn more.
About Centre for Study of Insurance Operations (CSIO)
CSIO is Canada’s industry technology 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 eDocs, My Proof of Insurance eDelivery, and eSignatures. In addition, CSIO operates CSIOnet, a secure, industry-owned platform for the efficient exchange of policy information for the broker channel. The CSIO XML Standard is licensed to CSIO by ACORD (Association for Cooperative Operations Research and Development). CSIO maintains offices in Toronto and Montreal. For more information, visit www.csio.com.
SOURCE: Centre for Study of Insurance Operations (CSIO)Tags: API, Centre for Study of Insurance Operations (CSIO), data standard, Economical Insurance, Innovation, Insurance Brokers Association of Canada (IBAC), Intact, Northbridge, RSA, Travelers, Wawanesa, working group