IBAO to host strategy meeting on data connectivity

The Insurance Brokers Association of Ontario (IBAO) has announced it will be hosting an industry strategy meeting to discuss data connectivity on May 24.

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“In order to ensure that brokers and broker insurance companies can service their customers in the manner that the modern consumer demands, we need to evolve as an industry and work together to address our data connectivity hurdles,” IBAO CEO Colin Simpson said in a press release.

The IBAO and its Technology Committee have obtained the support of 16 insurance companies and a number of BMS vendors to support a Broker Flow Feasibility Study on data connectivity in the industry. Company CEOs and CIOs are invited to the strategy meeting.

The feasibility study, which runs until the middle of May, has already established data exchange from a subset of participating insurers and BMS vendors using their existing data services. Additional carriers and vendors will be added in the coming days.

“Through simple mapping, we can have all of our broker carriers participate in this data connectivity initiative,” Simpson said. “For brokers, it’s critical that all markets are able to participate in order to facilitate the change necessary to effectively service consumers digitally.”

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