July 26, 2017 by Canadian Underwriter
U.S.-based TechCanary has enhanced its insurance platform for the Canadian market to allow brokers and insurers access to additional Canada-specific capabilities around p&c lines of business meant to help them to deliver more responsive and predictive offerings to customers.
TechCanary announced Tuesday that the company’s customers now have access to a broker management system (BMS) specifically for the Canadian insurance market, built on the enterprise app marketplace, Salesforce AppExchange.
The company’s original insurance platform – a cloud-based, analytics driven solution – serviced the Canadian market for brokers selling group benefits products, notes a release from the cloud-based, analytics-driven insurance solutions provider.
“This enhancement provides Canadian brokers and insurers with additional Canada-specific capabilities supporting personal and commercial property and casualty lines of business,” the statement notes.
The insurance platform enables efficient management of the entire insurance sales and service process from lead to sale and ongoing customer support, including renewal, it adds.
Well-suited for brokerages, managing general agents, general agents, wholesalers and carriers, it provides integration with both email and phone, and support for all browsers and mobile devices. In addition, company clients can choose from more than 3,000 add-on, pre-integrated apps to allow for expansion of capabilities.
“Canada is definitely a strategic market for us and key to our growth plans,” says Reid Holzworth, TechCanary CEO and founder, pointing out the company has witnessed a significant increase in demand for the platform in the region over the past year.
“We thought it well worth the investment to build in additional capabilities that are unique to the Canadian market and expand the portfolio of Canadian lines of business we support,” Holzworth reports.
TechCanary reports the offering is designed to empower “businesses to connect with their customers, partners and employees in entirely new ways.” Built on the Salesforce Platform, TechCanary’s BMS for Canada is currently available on the AppExchange.
Beyond support for p&c lines of business and group benefits, the statement notes, region-specific functionality includes support of Centre for Study of Insurance Operations (CSIO) data standards and downloads, and integration with PowerSoft Development Corp.’s Canadian comparative rating solution.
“The insurance industry is facing major disruption with new entrants and today’s customers expect smarter and faster service on their channel of choice,” Saima Shaukat, vice president of financial services for Salesforce Canada, says in the TechCanary statement.
“This makes it critical for brokers to deliver more responsive and predictive offerings to differentiate themselves in a highly competitive market,” Shaukat adds.
Tim Miller, president of Capri Insurance, a TechCanary Canadian client, reports his company has used the offering on the benefits side and witnessed benefits.
“We now have a single view of the customer after consolidating our databases and are able to easily track our sales and complex commission processes,” Miller points out, citing the additional value of being able to customize reports.