August 1, 2001 by Canadian Underwriter
The Insurance Brokers Association of Canada (IBAC) has called on all broker-supporting insurers to support the industry’s attempt to develop a business-to-business, real-time Internet portal through the Centre for the Study of Insurance Operations (CSIO). The first development phase of the CSIO’s portal, which will allow brokers to secure online comparative price quoting on personal lines business, is set for completion in early 2002. ‘As the national association of p&c insurance brokers, IBAC is issuing a challenge to all broker channel companies to embrace the new CSIO insurance portal. The industry is at a critical juncture. Our ability to enhance the broker channel’s competitive position depends upon wide acceptance of a true industry solution like the portal,” says IBAC president Kevin Umlah.
The CSIO also announced that phase one of the portal’s development has “now reached its midpoint”, and is expected to be completed around February, 2002. The first phase will deliver “quick quotes” on home and auto policies, and may be available by early October of this year, the CSIO says. This will be followed by full quoting in both languages. The next stage will incorporate administrative functions and form printing for both auto and home policies. The final step of the first phase development, which will interface with broker management and company systems, is expected to be operational before the February 2002 launch.
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