6 February 2018 07:00
Pat Durepos | Photo : Réjean Meloche
By becoming a shareholder ofHubio, Pat Durepos will help to deploy a solution that it has helped to put the world there are nearly five years.
Mr. Durepos emphasizes that this investment does not change his role of CEO at Technology Keal, a company he founded and then sold to the american firm Vertafore. He even says that Vertafore will be able to benefit from it, not having the expertise Hubio has developed over the years.
Mr. Durepos was already linked with this company, which formerly called iter 8. He had contributed to the development of the platform Intrinsync, released in 2013. Hubio keeps it still in service. It facilitates real time communication between brokers, insurers and management systems of the firm.
«It makes sense to offer the solutions that Hubio develops within Keal, considering what is happening in the brokerage in Quebec, but throughout Canada. «Mr. Durepos is thus referring to consumer preferences for greater use of technology, ranging from a transaction in real-time to its payment on-the-field.
Mr. Durepos notes, however, that Hubio does not deal directly with brokers. It does rather with the insurers to brokerage, offering them to integrate their solutions to systems of management of firm. Hubio is within the scope of the Project Guidewire, headed by the Centre for the study of the practice of insurance operations (CSIO), which aims to improve the connectivity between insurers, brokers and systems management firm.
Hubio also deals with banks. They represent only about 5 % of its customer base, » says Durepos. He noted that three of the five largest insurers in Canada are customers of Hubio, which deals with twenty insurers in Canada. The company is also active in the United States.
He said he is confident in the face of the challenge posed by the integration of different technologies in the brokerage. «These are technologies that are available today, provided that the insurers are of the will and the time. It does not advance as quickly as you would like, but we must not lose patience or be pessimistic. This is a good time to deploy this type of solution. When I saw the opportunity arise to participate in the acquisition of Hubio, I seized it, with the support of Vertafore, » says Mr. Durepos.