The Centre for Study of Insurance Operations (CSIO) has revealed that two of its members have successfully fulfilled the requirements of its Commercial Lines Certification Program.
Unica Insurance and Vertafore Canada are the first insurer and vendor members, respectively, to complete the program. Both have met the three certification levels of Foundation, Verified, and Certified.
Launched about a year ago, CSIO’s Commercial Lines Certification Program provides insurers and vendor members “blueprints” for structuring their commercial lines policy data. It is hoped that through the standardized data format, instant and accurate policy data can flow in real-time between insurer and vendor software systems, and that quoting only takes seconds instead of days.
“Being an innovative insurance provider and delivering ease of doing business solutions for our brokers are two pillars we consistently strive to meet,” said Unica Insurance chief operating officer Dave Smiley. “Achieving Commercial Lines Certification checks both of these boxes because it allows us to implement the latest in data standards and offer real-time quoting functionality to brokers for our contractor’s small business.”
“Vertafore Canada is a proud advocate of straight-through processing and real-time quoting,” added Vertafore Canada director of product management Stacey Miranda. “Working with Unica Insurance to be the first members to achieve Level III Certification reflects the strength of industry partnership and collaboration to implement change. Brokers can now receive a commercial lines quote from Unica Insurance instantly, allowing them to better manage their customers through the sales and renewal process.”
Miranda also noted that CSIO “continues to be a consistent champion and leader of advancing data standards.”