Policy Works Inc. and SGI CANADA to exchange commercial lines data electronically with straight-through processing
March 15, 2010
Policy Works is pleased to announce it has entered into an agreement with SGI CANADA to deliver a commercial lines data exchange solution integrating Policy Works' Commercial Management System (CMS) and SGI's underwriting system. SGI CANADA offers property and casualty insurance in Alberta, Saskatchewan and Manitoba as SGI CANADA, in Ontario as Coachman Insurance Company, and in Atlantic Canada as Insurance Company of Prince Edward Island (ICPEI).
The integration between SGI CANADA's underwriting system and the Policy Works desktop solution is the first straight-through processing of commercial data using the CSIO XML standards. This solution offers pure no-touch processing, enabling brokers to send submissions and receive quotations electronically without a web portal, which means no new portal or system for brokers to learn.
"Policy Works fits with our overall strategy of making it easier for brokers to do business with us," says Andrew Cartmell, President and CEO, SGI CANADA. "We have many innovative, progressive brokers who are constantly looking at ways to be more efficient in managing their commercial property business, including sending transactions directly to SGI CANADA without the traditional paper requests. Partnering with Policy Works creates the opportunity for us to accept real-time policy transactions from our brokers across Canada who have chosen to use Policy Works themselves."
"Policy Works brokers are continually looking to us to streamline the data exchange process," states Kevin Campbell, President of Policy Works Inc. "It's very exciting to work with a partner that shares our vision of improving the independent broker distribution channel. This integration means no change to how Policy Works brokers currently market their business. But it means tremendous efficiencies for the overall process."
The integration is expected to be completed this summer. The Policy Works Certified Data-Exchange Partner (CDEP) program ensures that commercial data is exchanged between insurers and Policy Works in an accurate, reliable, and secure manner. Policy Works Inc. and all CDEP partners are committed to working with the CSIO standards.
About SGI CANADA
SGI offers its competitive property and casualty insurance products through SGI CANADA and its subsidiaries: SGI CANADA in Saskatchewan, SGI CANADA Insurance Services Ltd. in Alberta, Manitoba and British Columbia, and Coachman Insurance Company in Ontario. Products are sold through a network of independent insurance brokers.
About Policy Works Inc.
Since 1992, Policy Works Inc. has been leading the development of Commercial Management Systems (CMS) for the Canadian insurance industry. Policy Works streamlines the commercial-lines workflow to manage the entire policy lifecycle efficiently and effectively. www.policyworks.com.