The Insurance Brokers Association of Canada (IBAC) has appointed Tom Reid to the role of broker connectivity lead, for the association’s Data Exchange (DX) Project.
“Broker connectivity is a key priority for IBAC, and the pandemic has intensified the need for strong digital solutions across the insurance industry,” said IBAC CEO Peter Braid. “We are committed to rapidly advancing our DX project in order to achieve efficiency and cost savings to business operations, and more importantly, provide the digital capabilities that consumers demand.”
Braid added that as the association’s broker connectivity lead, Reid will “apply a concentrated effort” to ensure the DX project succeeds.
Reid has over 15 years of experience in the insurance industry, having served a number of executive leadership roles with a major carrier and a broker tech vendor. In addition, he has worked as a licensed broker, and has served on the board of the IBAA.
“I have been passionate about connectivity in our industry for more than 15 years,” commented Reid. “By working together as an industry with focus and purpose, I believe that a solution is imminent. I am privileged to join IBAC and lead the DX initiative forward.”
IBAC’s DX project is an initiative that aims to establish real-time connectivity in the industry. According to the association, the completion of the First Notice of Loss transaction as a Reusable Data Service (RDS) is proof of the DX project’s efficacy.
“With additional transactions at various stages of development, now is the time to focus on the widespread implementation of RDS solutions,” the IBAC said in a statement.
