The Centre for Study of Insurance Operations’ (CSIO) has held its first Members’ Governance Meeting virtually, giving the organization a chance to review its accomplishments.
The virtual meeting was held May 26, 2020.
CSIO chairman of the board of directors Cam Loeppky took the opportunity during the meeting to commend the industry’s quick adaptation during the COVID-19 pandemic.
“Without the possibility of face-to-face meetings, insurers and brokers alike have adopted or heightened their use of digital tools, including CSIO’s My Proof of Insurance (MPOI), to ensure consistent customer service and continued innovation,” said Loeppky. “It’s been a challenging time to navigate but I’ve been very impressed with our industry’s resilience.”
For the rest of the meeting, CSIO president and CEO Catherine Smola gave a breakdown of the group’s achievements since 2019.
Smola firstly mentioned the success of CSIO’s MPOI. Since its introduction in 2018, MPOI has been endorsed by 30 insurers, and over 700 brokerages have chosen it as their preferred method for sending eSlips (electronic proofs of auto insurance).
“We saw impressive growth in the adoption of My Proof of Insurance. With the provincial regulatory approvals, brokers and insurers responded swiftly and diligently in providing customers with this digital experience,” commented Smola. “We look forward to supporting additional members in implementation of the solution.”
Presently, seven Canadian provinces and territories support digital auto insurance proofs.
Smola also mentioned that the group’s commercial lines working group had managed to finalize the questions required to quote most small contractors’ business. This was a crucial step in CSIO’s implementation of commercial lines data standards in the broker channel.
The chief executive also mentioned the INNOTECH advisory committee. Launched last year, the committee is comprised of insurer and broker representatives brought together to solve common industry pain points. The committee had planned a roadmap for 2020, and has focused first on improving claims and billing notifications, as well as enhancing API industry standardization.
CSIO’s recent launch of the Digital Broker eLearning Program was also touched upon by Smola. The continued education resource for brokers offers free, accredited and on-demand courses in tech-based subjects.
During the meeting, CSIO also introduced its latest board member: Tatjana Lalkovic, enterprise chief information officer for Economical Insurance.
