February 26, 2019 by CSIO (Centre for Study of Insurance Operations)
TORONTO, ON, Feb. 26, 2019/insPRESS/ – CSIO’s My Proof of Insurance eDelivery solution is celebrating its inaugural anniversary and the many successes it has had over the first year. Since its launch in February 2018, over 620 brokerages have chosen My Proof of Insurance as their solution to securely deliver electronic policy documents and eSlips to customers in place of paper. Broker adoption has been strong and continues to grow significantly across Canada, with Nova Scotia brokers leading the way at 83%, and Alberta and Ontario brokers following at 50% and 40% respectively.
“Many of our customers, personal and commercial, are more frequently requesting electronic copies of their documents and eSlips, which makes this solution an amazing value-add,” says Derek Faulconer, President of CRE Insurance Services, a broker based in Markham, Ontario. “My Proof of Insurance has been very convenient for both the clients and myself. It costs no money, and with eSlips, we can now provide a service that consumers expect – even in Ontario, where eSlips aren’t yet approved. This solution just makes sense.”
Dozens of insurers have selected My Proof of Insurance as their eDelivery platform. In addition, all major broker management systems have announced integrations with My Proof of Insurance. Applied Systems, Custom Software Solutions Inc., Deltek, Keal, MASTERCOM, Policy Works and PowerBroker have gone live with the integration, allowing brokers to send digital documents and eSlips from within their BMS.
In February 2018, Nova Scotia became the first province to approve electronic proof of auto insurance. Jennifer Calder, Deputy Superintendent of Insurance in Nova Scotia, said: “The introduction of electronic proof of insurance in Nova Scotia has been seamless. We are not aware of a single complaint regarding electronic pink cards.”
Momentum is building for insurance regulators in other provinces to follow Nova Scotia’s lead. CSIO continues to meet with regulators, police chiefs and other stakeholders to address their questions, build understanding of industry and consumer expectations, and demonstrate the capabilities of the industry’s eDelivery solution.
“My Proof of Insurance is a success story that demonstrates the value and impact of collaboration within the industry,” says Catherine Smola, President & CEO of CSIO. “Working closely with brokers, insurers and vendors allowed us to test, develop and launch the solution in a very short time. We are committed to working with stakeholders to obtain regulatory approval, and I expect additional provincial regulators to approve eSlips in 2019.”
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About Centre for Study of Insurance Operations (CSIO)
CSIO is Canada’s industry association of property and casualty insurers, software 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, eDelivery and eSignatures. In addition, CSIO operates the industry-owned mail network service, CSIOnet. CSIO maintains offices in Toronto and Montreal. For more information, visit csio.com.
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