Canadian Underwriter

CSIO launches scorecard tool for brokerage technology adoption

February 23, 2016   by Canadian Underwriter

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The Centre for Study of Insurance Operations (CSIO) has launched its new Technology Scorecard tool, providing member brokerages with a snapshot view of their technology adoption in comparison to the provincial average and helping encourage further tech adoption for a stronger competitive position.

The tool builds on CSIO research used to develop its TLS eMail Security and Mobile Website adoption maps, the centre said in a press release on Tuesday. It also adds data on industry forms, CSIOnet, eDocs, eSignatures, search engine optimization and social media, including the use of Facebook, Twitter, and/or LinkedIn. [click image below to enlarge]

The national technology adoption average across all brokerages is 56%

The research results have also been summarized in map form (see graphic above), displaying the technology adoption average for each province. The national average across all brokerages is 56%, with Ontario rating highest at 69% and New Brunswick the lowest at 45%.

“The Technology Scorecard supports brokerages in creating benchmarks for technology adoption,” said Catherine Smola, president and CEO of CSIO, in the statement. “We hope that providing individual brokerage and provincial scores side by side will motivate members to strengthen their competitive position by adopting additional technology solutions.” [click image below to enlarge]

CSIO will update the scorecard regularly to reflect current adoption rates

CSIO will update the scorecard regularly to reflect current adoption rates.

CSIO is Canada’s industry technology association of property and casualty insurers, software providers and over 35,000 brokers. The centre, which maintains offices in Toronto and Montreal, oversees the development, implementation and maintenance of technology standards and solutions such as eDocs, telematics, eDelivery and eSignatures.