We are excited to announced that Vertafore Canada is the first InsurTech service provider to successfully achieve Level III in the Centre for Study of Insurance Operations (CSIO) Commercial Lines (CL) Certification Program. Each level represents an important milestone in the adoption of CL data standards: foundation, verified, and certified.
Level III—the program’s final stage—requires service providers to launch real-time CL quoting for brokers for at least one segment of business. Vertafore Canada’s effort to attain certification is part of our strategy to improve market connectivity across the insurance distribution channel.
“This achievement demonstrates Vertafore Canada’s commitment to being an effective and efficient commercial lines partner, and also being ready to launch real-time quoting functionality to brokers for at least one segment of small business, highlighting the value and efficiency of straight-through processing”, says Catherine Smola, President and CEO of CSIO. “I applaud Vertafore Canada on attaining their Level III certification by successfully implementing the CSIO Commercial Lines Minimum Dataset.”
Last spring, CSIO launched the triple-tiered CL Data Standards Program to support the industry in achieving real-time CL quoting. Vertafore Canada achieved certification by demonstrating our commitment to pioneering fluid data CL transfer and real-time processing for the broker distribution channel.
“Unica’s IT development efforts remain focused on delivering standards-based ease of doing business solutions for the broker channel,” said Dave Smiley, Chief Operating Officer for Unica Insurance. “Working in partnership with Vertafore to build and implement our commercial insurance API, it’s very important to keep industry standards at the forefront of our development efforts. Obtaining the industry’s first CSIO Commercial Lines Level 3 Certification is a significant achievement and a testament to that commitment by the Unica and Vertafore teams.”
As Canada’s industry association of property and casualty insurers, CSIO is an organization committed to developing, implementing, and maintaining technology standards and solutions in the broker channel. CSIO is dedicated to improving the consumer’s ease of doing business within the broker channel, and Vertafore Canada is proud to be a partner in their mission.
“Brokers are under pressure to quote and bind small business commercial in real time,” said Natasha Joyal, Sr. Director of Development for Vertafore Canada. “The broker and insurance client experiences are at the heart of everything do. We are proud to be the first Level III certified vendor member in this program that brings all stakeholders to agreement on data standards, allowing brokers to deliver a smooth CL buying experience.”
May 21, 2021