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Dual input : this age-old problem that persists


Andrea Lubeck

17 July 2017 07:00

Jean Philippe Martineau, Luc Corbeil and David Larkin

When asked whether they considered that the double entry is always a problem, brokers answered yes. And the suppliers of BMS abound in the same direction.

«It was a problem with my start in the industry 15 years ago, and it is always a problem. However, there have been some improvements on this side, » said Sean Graham, president ofIdea Insurance, in interview to the Newspaper of insurance.

Jean-Philippe Martineau, president of the Group Ostiguy Gendron, attributes the lack of cohesion in the information required by the different insurers to this persistent problem. In addition, a small number of issues requested by each of the insurers would improve the efficiency of the broker.

«If the broker-dealer poses 20 questions to the client, as insurers reduce the number of questions to 5 or 10 to provide an indication of premium, and that the portal pulls information directly from the BMS, the gain in efficiency will inevitably feel if this eliminates the need for manual entry into multiple portals,» said Mr Martineau.

And this leads some dealers to promote the insurer of which he prefers to the portal, which can lead to a phenomenon of concentration with this insurer. «This concentration is done unfortunately at the expense of the value added by a firm of independent brokerage provides clients «, he says. He said that the solution lies in the automatic transfer of customer’s data entered into the BMS to the portal of insurers.

A phenomenon that has also been noticed Luc Corbeil, director, information technology Group Ultima. «Yes, this trend is present, but not only for the double entry, in a general way also. People have a tendency to encourage a primary insurer. An efficient system is only one of the elements that influences it. «

David Larkin, president of Software association supplier advisory council, believes that a better partnership between the BMS and the insurers would do direct mail, but this solution is slow to come. «The insurers are large companies with which the projects are progressing slowly «, he says. Mr. Larkin evaluates, however, the feasibility of such an innovation.

Mr. Corbeil, abounds in the same direction. «It is necessary to further integrate the BMS systems of the insurers. The full integration is the future. This would be simpler for brokers. «In the meantime, Mr. Corbeil ahead of other solutions, such as copy and paste fields from two interfaces.

A culture of secrecy within the insurers impedes the progress to resolve the problem of double entry, according to Mr. Corbeil. «The insurance market is very traditional. Insurers were required to protect their information. But the industry is in transformation. Inevitably, the distribution lines also. As the insurers are open to any way to ensure that brokers can access the data in their system is a necessary and normal. «

Mr. Corbeil also states that this openness is beneficial for the customer relationship-broker. The insurer would have everything to gain from giving access to its information in order to optimize its sales, according to him.

The obstacle of the old systems

Generally, the businesses of BMS is working to find a solution to this problem experienced by the brokers, but faced a major obstacle : old systems for insurers. «Some insurers have older systems that are not compatible, and others are in the process of change, and so do not want to resolve the connectivity issue right away,» explains Stéphane Lacasse, vice-president, products and pricing, in Applied Systems.

Philippe Joassin, vice-president, sales at Applied, has insisted that the meetings with the insurers are now in the company of a broker-dealer. «We want to involve more brokers to discuss the pitfalls, as they are directly affected. «

The arrival of the eDocs of the Centre for study of insurance operations (CSIO) a few years ago, of electronic documents that are compatible with the majority of the software of management of a brokerage firm (BMS), which makes it easier for the dealers and reduces the time of treatment. Last may, the CSIO has unveiled a table that reports on insurance companies and mutual insurance companies that use the eDocs, sectors for which they use the eDocs and what types of eDocs them to be. Of the approximately 2 000 brokers canadians, 81 % of them use these electronic documents.

How Catherine Smola, president and ceo of CSIO, she explains that all insurers, and broker do not use the eDocs? By obsolete technologies. «Some insurers have not introduced new systems, particularly in business insurance. Among brokers, a small minority does not even use of the broker management system. Despite these obstacles, the adoption of eDocs is growing every year. We expect that this trend continues. «

According to data from the CSIO, the eDocs have resulted in savings of $ 22 million for brokers across the country between 2015 and 2016. Ms. Smola contends that this number is computed by taking into account the administrative steps that dealers have been able to eliminate through the eDocs, the time required to complete them and the cost they represent. By 2016, 22 million eDocs that have been sent in insurance of individuals, while this number rises to 1.1 million in insurance enterprises.

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