28 August, 2018 07:00
At least two groups of provincial industry working to promote connectivity between the systems of management of policies of insurers and broker management (BMS) which are used by the brokers.
The Regroupement des cabinets de courtage d’assurance du Québec (RCCAQ) has recently created a committee on technology, chaired by John Bilodeau. The mission of the committee is to ” ensure a leadeurship inspiring with all stakeholders in order to take advantage of the opportunities offered by the technologies and make the damage insurance brokerage distribution network is efficient and able to bring to life for consumers with a customer experience incomparable “.
It is composed of seven leaders of member firms of the RCCAQ and the executive director of the RCCAQ Eric Manseau. Mr. Bilodeau stated in the Journal of the insurance that the group emerged from the desire of the members.
“We want to increase the efficiency of firms, an aspect of the operation and improve the customer experience. “To achieve this, the committee has met with the key suppliers of BMS, insurers and representatives of the Centre for study of insurance operations (CSIO) to discuss the reality and needs of each.
Theinsurance brokers Association of Ontario (IBAO) announced in may that it is working since one year on a connectivity solution uniform at the scale of the province for the exchange of data, named BrokerFlow. This group is composed of 18 insurers, representing 85 % of the volume in individual insurance and business underwritten through the brokerage network, six suppliers of BMS, four software companies, the CSIO and theinsurance brokers Association of Canada (IBAC).
Jeff Toth, coordinator of marketing and communications for the IBAO, says that the first step is to assess the feasibility of such a solution. “The second step is to reaffirm that the results of the validation of the concept correspond to the expectations of the industry. Our goal is to have the results of this step to the end of July, ” he said.
The committee will consider in the third place the financial implications of the different solutions envisaged. It will be decided in September if the third phase will get underway. “Each step must obtain the approval of the members to move forward,” said Mr. Toth.
He adds that the IBAO hope that the solution is usable in 2019. This will depend on several factors, including the choice of the supplier for it.
In addition, Jean Bilodeau does not exclude the possibility of concluding an association between the project of the RCCAQ and the IBAO ” to promote a better collective effort “.