The Centre for Study of Insurance Operations (CSIO) has established a standards governance advisory council in a bid to enhance its standards and implementation guides and eliminate conflicting interpretations among its member organizations.
The decision to create a new council came during the development of CSIO’s upcoming multi-year strategic plan. It also aims to boost collaboration and cooperation among members.
The move includes the implementation of a comprehensive standards adoption framework, CSIO said in a press release. This includes the introduction of adoption classification systems overseen by the council.
CSIO’s standards governance advisory council held its first meeting on July 11. Representatives from Deloitte facilitated the session, including Debbie Wilson, senior advisor/leader of consulting and insurance core technology, and Billy Walsh, senior manager.
The council consists of CSIO members from various insurance companies and vendors, in addition to representatives from the Insurance Brokers Association of Canada (IBAC).
“Data standards are crucial for any organization that wants to structure its data and maintain higher data quality for decision-making,” said Catherine Smola, president and CEO of CSIO.
“We appreciate the subject matter experts from our member organizations coming together to sit on the standards governance advisory council and sharing their insights to improve the standards implementation framework for the P&C industry.”
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