Keal Technology Works with iter8 Inc. & Unica Insurance to Implement keal connect – An Award Winning Solution for the Independent Broker
June 20, 2012 by Iter8
June 2012: Keal Technology, a Canadian software application developer servicing Canadian insurance and financial brokerages is pleased to announce that their keal connect solution has won the 5th annual 2011 CSIO Annual Achievement Award which recognizes the most innovative use of CSIO Standards for the benefit of the independent broker distribution channel.
keal connect has been developed and implemented through a partnership with Unica Insurance and iter8, an insurance software developer. keal connect is integrated within the Keal sigXP broker management software (BMS) that moves policy data from sigXP directly to the carrier system with no third party assistance. The award winning solution has initially been implemented at Unica Insurance. The solution has been developed so that independent brokers have access to modern technology that improves their ability to compete with direct insurance writers.
Outstanding results have been achieved. Keal Technology has completed studies that show transaction response times are greatly improved with keal connect when compared with traditional methods. A 70% time saving has been achieved, for one particular transaction, which translates into significant CSR time savings over the weeks, months and years of usage.
In 2011, a partnership was formed between Keal Technology and iter8 to use iter8 technology imbedded in keal connect. The successful development of keal connect has lead to the recent creation of a separate corporate vehicle to attract and retain seasoned industry expertise that will deliver real business and technology solutions with the specific purpose of promoting and preserving the independent broker channel across Canada.
The business development is well under way. Focusing initially on expanding keal connect functionality, the new venture will ultimately provide the independent broker channel with the innovative solutions that they require enabling them to compete in an ever-changing marketplace. Further announcements in connection with this exciting new venture are expected to be made in the coming weeks.
Unica Insurance is the first Canadian insurer to implement the keal connect solution. They recognized the broker benefits including:
Data integrity
Cost savings
Increased efficiencies
Ease of Use
Speed to market
Katherine Evans, CFO at Unica commented, “We were excited to be a first mover in bringing keal connect to market. Our brokers can interact with Unica to make all forms of inquiry and new business submission, and we are working with Keal to extend this into policy changes.”
Renee Durepos, VP operations at Keal Technology was also extremely pleased with the CSIO award, “keal connect is important to us, as we see it as the best solution in the market, allowing sigXP brokers to upload smoothly, once and done, in an easy-to-use manner. Our plans are to continue to invest in keal connect to grow functionality and capabilities.”
CSIO’s (Centre for Studies in Insurance Operations) central mandate is to support industry standards enabling a competitive advantage for the independent broker distribution channel. Brokers are members of CSIO through the Insurance Brokers Association of Canada (IBAC). Winning an award from CSIO represents an important step in the growth and usage of keal connect. For 2012 five nominations were received with the winning nomination awarded to the collaborative team of Unica Insurance Company, Keal Technology, iter8 Inc., and Bowman & Gibson Insurance.
Glen Piller, President of iter8 added, “We are extremely proud to be an award recipient along with Unica Insurance and Keal Technology and look forward to seeing the continued delivery of technology solutions that benefit the independent broker channel in Canada.”
About Keal
Keal is a 100% Canadian software application developer exclusively servicing Canadian insurance and financial brokerages, in both official languages. Keal offers brokers an end-to-end integrated suite of management systems to streamline workflows and increase profitability. As a Microsoft Gold Certified Partner and Citrix Ready Partner, Keal products are technologically advanced and flexible, utilizing SQL architecture. Keal is headquartered in Concord, Ontario with offices across the country. For more information visit www.keal.com
About Unica
Founded in 1955 and 100% Dependably Canadian®, Unica Insurance (Unica) is a subsidiary of La Capitale General Insurance, one of the largest property & casualty insurers in Canada. From our head office in Mississauga,Ontario, Unica offers innovative insurance solutions to protect consumers’ homes, cars and businesses through a network of professional insurance brokers across Ontario.
About iter8
iter8 Inc. is a software solutions provider to the Property and Casualty Insurance Industry, its products designed to increase profitability by solving problems through smart innovation and proven expertise in both the insurance business and in technology, implementation, and service.
A dynamic, creative company, and market leader in the Canadian market, iter8 has a track record of successfully streamlining insurance processes, improving time-to-market, and saving companies’ money.
For more information, please contact:
David Gallagher, VP, iter8
888 999 7107 x490
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