February 21, 2018 by Staff
The Data Exchange Model—or D/X Initiative—announced in January and supported by the Toronto Insurance Conference, focuses on communicating claims information for both commercial and personal lines clients. It follows the nationally endorsed Insurance Brokers Association of Canada’s (IBAC) D/X principles.
“This initiative is an important step to help advance the industry’s use of data and analytics,” Heather Masterson, president and CEO of Travelers Canada, said in a news release. “Travelers Canada is committed to supporting brokers in their efforts to enhance efficiencies and deliver superior customer service.”
Travelers joins AIG Canada and RSA Canada, as well as broker management system (BMS) vendors Keal Technology and Custom Software Solutions Inc., in the partnership that is also supported by the Centre for Study of Insurance Operations (CSIO).
IBAC would like the D/X Model to be the industry-wide standard, allowing insurers and brokers to exchange any type of information easily in a secure manner.
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This story was originally published by Canadian Insurance Top Broker.