The eDocs working group of the Centre for Study of Insurance Operations (CSIO) has finalized the business requirements to refine eDocs codes and descriptions.
The requirements are designed to streamline operations, reduce ambiguity, and enhance communication across the insurance industry, a press release from the technology association said.
CSIO’s goal was to address inconsistencies in the labelling of eDocs within broker management systems (BMS). The lack of standardized eDocs codes and descriptions often forced brokers to open documents to determine their contents, leading to inefficiencies and increased workloads.
The process of refining eDocs codes and descriptions spanned several months. CSIO surveyed brokers across the country for feedback on its proposed eDocs descriptions, in addition to facilitating focus group sessions for a specific BMS to capture all use cases.
These efforts led to the brokers, insurers, and BMS vendors involved in the eDocs working group coming together to reach a consensus on a list of refined eDocs codes and descriptions. The list features all eDocs use cases, including billing, claims, policy transaction, cancellation, lapse, and underwriting.
After the meeting, CSIO compiled a comprehensive business requirements document, providing insurers and vendors with a clear roadmap for implementation.
“As a broker, we are thrilled to see this eDocs initiative come to fruition,” said Jeff Roy, president and CEO at Excalibur Insurance Group. “The refined eDocs codes will not only reduce friction but save valuable time and money, which allows brokers to spend more time having meaningful conversations with clients.”
“The industry coming together and CSIO’s structured approach to this initiative was instrumental in reaching a consensus and advancing the standardization of eDocs in a short period of time,” added Aly Kanji, president and CEO at InsureLine Brokers Inc.
“The output from the eDocs Working Group will ensure a standardized industry approach, which will provide further opportunity for automation within the broker’s workflow while providing brokers with an enhanced experience.”
Work for the eDocs project was undertaken as part of CSIO’s multi-year strategic plan, which includes an initiative to bolster standards development and implementation guides.
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