Keal launches software to aid brokers in auto reform implementation

Keal Technology has launched software to support brokers through the implementation of the Ontario auto insurance reforms, which take effect Sept. 1, 2010.
To comply with Financial Services Commission of Ontario (FSCO)’s reform standards, a special release of Keal’s Broker Management System sigXP was developed and released ahead of schedule, a Keal release says.
The most significant change resulting from the reforms for brokers doing business in Ontario is the requirement to use the Ontario Application for Automobile Insurance CSIO (0910E) form, which is now available in sigXP, the release continues.
“Without the new auto application in the BMS, brokers’ workflows will be more complicated, manual and potentially open to increased E&O exposure,” Keal said.
“Some insurance companies may not accept the old CSIO auto form, increasing manual work for the brokers to comply. In addition, the broker may not be able to identify an insured’s accident benefits coverages without the new form securely stored in the BMS.”