Ontario Brokers laud CSIO announcement

The Insurance Brokers Association of Ontario (IBAO) says a new CSIO XML standard will bring greater efficiency to broker-insurance company communications through electronic documents.

The development of “E-Docs” allows brokers to see electronic copies of policies automatically attached to their files, instead of pulling copies of polices from individual insurance company portals into their broker management systems (BMS).

IBAO says insurance companies such as The Dominion and Intact Insurance, in addition to BMS vendors such as Custom Software Solutions Inc., Keal Technology and Power Broker, have committed to using the CSIO XML standard instead of developing proprietary solutions.

“This development is an opportunity to drive real cost efficiencies into broker offices,” said Rick Orr, president of IBAO. “It is the kind of win the channel has needed for some time. If we can demonstrate our ability to work together to find standardized solutions over non-proprietary ones, more robust projects such as the IBAC Data Exchange seem even more likely to succeed.”