The Insurance Brokers Association of Canada (IBAC) today called on all broker-supporting insurers to support the industry’s attempt to develop a business-to-business, real-time Internet portal through the Centre for the Study of Insurance Operations (CSIO). The first development phase of the CSIO’s portal, which will allow brokers to secure online comparative price quoting on personal lines business, is set for completion in early 2002.
“As the national association of p&c insurance brokers, IBAC is issuing a challenge to all broker channel companies to embrace the new CSIO Insurance Portal. The industry is at a critical juncture. Our ability to enhance the broker channel’s competitive position depends upon wide acceptance of a true industry solution like the portal: a solution based upon Internet technology, standards, single entry, and the business needs of the industry,” says IBAC president Kevin Umlah.
“Every broker distribution insurance company has a responsibility to participate in activities that improve our channel’s competitive position. And through its development of industry standards and the Portal project, CSIO is clearly the industry-wide partnership organization that enables broker distribution channel stakeholders to do so,” Umlah stresses. “IBAC therefore calls on all broker channel companies to join CSIO and to embrace industry standards, the Portal, and the leap forward it promises to provide toward the long sought-after Single Entry Multiple Company Interface (SEMCI) technology solution.”