Applied Systems adopts eDoc standards

Software provider Applied Systems is supporting the Centre of the Study of Insurance Operations (CSIO) XML eDoc standards in the company’s next major release of its TAM broker management system, expected 2012 Q4.

Applied Systems has already begun work with carriers on implementing the delivery of eDocs into broker systems. Driven by the Insurance Brokers Association of Ontario (IBAO), the new standard allows for electronic documents to be transmitted in broker downloads.

Currently, brokers must visit company portals to extract electronic copies of policies one by one to move to their broker management systems

However, with this new development, brokers whose carriers and BMS vendors support the CSIO standards will begin to see electronic copies of policies sent automatically and seamlessly attached to their client files.

“We applaud the leadership of IBAO in driving this important initiative, and we look forward to continuing to work with CSIO, brokers, carriers and the IBAO to ensure that the eDocs delivery effectively automates the workflows of brokers,” said Applied Systems CEO Reid French.

“We believe the introduction of the eDoc standard is an important step in driving efficiencies that create value for our independent brokers across Canada,” added Rick Orr, president of the IBAO.

In addition to Applied Systems, IBAO has heard from a number of insurers and BMS vendors, all of which have committed to developing the new standard as opposed to building proprietary ones. These include The Dominion and Intact Insurance, as well as BMS vendors Custom Software Solutions Inc., Keal Technology and Power Broker.