The Insurance Brokers Association of Canada (IBAC) has revealed that Wawanesa Mutual Insurance Company is the first insurer to make a “substantive” contribution to IBAC’s Data Exchange (DX) Initiative.
IBAC’s DX Initiative is a project that looks to enhance insurance industry connectivity, benefitting not just brokers, but insurance carriers and consumers as well. The project involves the creation of a reusable data services (RDS) library and testing facility, which would streamline broker workflows and eliminate redundant insurance data entries across different carriers, among other things.
Wawanesa contributed to the DX Initiative by sharing its legal and technical resources, and the company’s perspective as an insurance carrier was seen as invaluable to the development of the project’s foundational documents – particularly the IBAC Common Implementation Specifications Document and the IBAC FNOL (First Notice of Loss) Implementation Services Document, IBAC said.
“Since Wawanesa is 100% broker distributed, we’re excited to be at the forefront of this broker-led effort,” said Wawanesa president of Canadian P&C operations Carol Jardine. “A stronger, more vibrant broker community can only benefit your customers and insurer partners. And, in terms of producing a better customer experience, there is not much else that can have as positive an impact as the enhanced connectivity we want to accomplish with this initiative.”
“IBAC is pleased to see the positive results of our collaborative approach to broker connectivity,” commented IBAC CEO Peter Braid. “Wawanesa has been an enthusiastic partner from day one, and we greatly appreciate their commitment to the DX Initiative. We look forward to achieving further success with more of our insurer and vendor partners.”
IBAC explained in a release that the IBAC Common Implementation Specifications document serves as a guide on how to create, secure and authenticate IBAC Data Exchange reusable data services that support enhanced real-time movement of data. Meanwhile, the IBAC FNOL Implementation Services Document provides detailed specific information for the FNOL RDS. Both are available to access for free in the CSIO RDS Library for any CSIO member.
Wawanesa’s contribution builds on the previous inputs of both CSSI and Keal/Vertafore, which contributed their technical expertise in the creation of broker management system connections to the RDS system.
