Insurance brokers and their clients will enjoy accurate real-time quotes and faster, more efficient new business submission and policy issuance with a software integration project from Economical Insurance and Custom Software Solutions Inc. (CSSI). The real-time data exchange project will integrate Economical’s Vyne™ offering with CSSI’s vendor rating software IntelliQuote (IQ) and broker management system The Broker’s Workstation (TBW).
“We share Economical’s commitment to improving the broker channel through technological innovation,” said Scott Andrew, CEO of CSSI. “This new real-time connectivity, which adheres to CSIO standards, enables our CSSI brokers to provide a better quoting experience and faster new business policy turnaround for their customers.”
“Incorporating CSSI software into our Vyne offering has allowed Economical to deliver an enhanced experience to our broker partners,” said Alice Keung, SVP and Chief Transformation Officer, Economical Insurance. “This real-time data exchange provides a streamlined workflow that allows both Economical and brokers to deliver faster and better service for our customers.”
Shifting customer expectations means brokers increasingly need new tools. Economical and CSSI recognize the opportunity to improve the quoting and policy issuance process by implementing new technology. The integration project will enhance broker quoting capabilities for new business in personal auto, personal property, and individually rated commercial auto (IRCA). Immediate benefits to the broker are improved rating accuracy, real-time rate updates, and rate maintenance efficiencies. A quote can quickly be turned into a new business submission in one customer interaction. If no underwriter intervention is required, a policy will be issued in real-time and an eDoc download will be available within minutes.
IntelliQuote and TBW integrated rating and new business issuance with Vyne will roll out regionally beginning June 2018.
About Economical Insurance
Founded in 1871, Economical is one of Canada’s leading property and casualty insurers, with more than $2.2 billion in annualized premium volume and more than $5.4 billion in assets as at March 31, 2018. Headquartered in Waterloo, ON, this Canadian-owned and operated company services the insurance needs of more than one million customers across the country. Economical conducts business under the following brands: Economical Insurance, Economical, Western General, Economical Select, Perth Insurance, Sonnet, Petsecure, Economical Financial, and Family Insurance Solutions.
About Custom Software Solutions
Custom Software Solutions Inc. (CSSI) was founded in 1991 and is a leader in the development and delivery of real-time digital solutions and business process automation systems for Insurance Brokers, Companies and MGAs in Canada. Our proven Broker products, The Broker’s Workstation, IntelliQuote, The Underwriter’s Workstation and I-Client, and Insurance Company Products, I-Company, I-Broker, and I-Biz, are today providing significant efficiency gains leading to increased productivity and decreased operating expenses for both Broker and Company users. CSSI boasts a team of highly experienced programmers, insurance industry professionals, and certified computer technologists. CSSI services its growing clientele of Brokers and Insurance Companies from its offices in Virden, MB. For more information, visit our website at www.cssionline.com.