May 13, 2003 by Canadian Underwriter
Technology vendor Custom Software Solutions Inc. (CSSI) is benefiting from a $1.175 million boost from a non-profit Internet development fund.
CANARIE, an organization supported by member companies, project partners and the Government of Canada to offer funding for development of “next-generation research networks and the applications and services that run on them”.
Manitoba-based CSSI says the funding will go to develop, test and bring to market a package of process automation tools for insurers and their broker partners.
“To date a state of the art EDE (electronic data exchange) system that is capable of addressing all insurance policy transactions does not exist due to the structural barriers presented by competitive rivalries and multiple incompatible software systems,” states a CSSI release. They seek to create an end-to-end solution for the industry.
CANARIE president and CEO Andrew Bjerring notes that much of the insurance industry is made up of small and mid-size companies and a cost-effective, efficient service will help these businesses stay competitive. This is in keeping with CANARIE’s “E-business Program” mandate to support small and mid-size business.
CSSI has been in business since 1991, and collaborates with The Wawanesa Mutual Insurance Co. and Andrew Agencies Ltd. to develop and test its process automation tools.