Keal Technology completes software changes for Ontario auto reforms
Keal Technology, software provider for Canadian insurance brokers, has announced that they have completed software development required to support brokers through the amended Automobile Insurance Regulations in Ontario taking effect September 1, 2010.
To comply with the FSCO Regulated Ontario Reform Standards, a special release of Keal’s Broker Management System (BMS), sigXP was developed and released to brokers ahead of schedule. The most significant change for brokers doing business with Ontario consumers is the requirement to use the Ontario Application for Automobile Insurance CSIO (0910E) form which is now available in sigXP.
In a news release, Keal said that without the new auto application in the BMS, brokers’ workflows will be more complicated, manual and potentially open to increased E&O exposure. Some insurance companies may not accept the old CSIO auto form, increasing manual work for the brokers to comply. In addition, the broker may not be able to identify the insured’s accident benefits coverages without the new form securely stored in the BMS.
“The auto reforms coming to Ontario have a significant impact on our clients,” said Renee Durepos, Vice President, Operations, Keal Technology, in the release. “Brokers need tools to efficiently and effectively provide outstanding service to consumers, and at the same time minimize errors and omissions exposure. We wanted to give our clients ample time to work with the new auto application as they prepare for September 1st.”
A special release of Commercial Management System (CMS), comXP, including the new Ontario Application for Automobile Insurance CSIO (0910E) is scheduled for release later this month.
