CSIO 2015 Annual Report

2015ANNUAL REPORT

MEASURING RESULTS, DRIVING PROGRESS 02-03 MISSION, VISION & VALUES 04-05 MESSAGE FROM THE CHAIRMAN 06-07 MESSAGE FROM THE PRESIDENT & CEO 08-09 BOARD OF DIRECTORS 10-112015 HIGHLIGHTS 12-17MEMBER RESOURCES & TOOLS 18-21 MEMBER ENGAGEMENT 22-23 STANDARDS 24-25CSIO MEMBERS 26-27

MEASURINGRESULTS

CSIO 2015 ANNUAL REPORT

MEASURING RESULTS, DRIVING PROGRESS02

87,600

99.9%

3,600

8,700

PER DAY

NETWORK AVAILABILITY

PER HOUR

HOURS OF UPTIME

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32M+ TRANSACTIONS

CSIOnet

DRIVINGPROGRESS

eDOCS SENT BETWEEN MEMBERS

THAT’S MORE THAN

SAVINGS IN

16,000,000+

12,000 TREES

$6,000,000

CSIO 2015 ANNUAL REPORT MEASURING RESULTS, DRIVING PROGRESS

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03

04


MISSION, VISION & VALUES

MISSIONCSIO’S MISSION IS TO DELIVER LEADING-EDGE TECHNOLOGY STANDARDS AND SOLUTIONS IN ORDER TO CONTINUOUSLY IMPROVE THE CONSUMER’S EASE OF DOING BUSINESS WITHIN THE BROKER CHANNEL.

VISIONCSIO IS A HIGHLY RESPECTED ORGANIZATION THAT DELIVERS LEADING-EDGE TECHNOLOGY STANDARDS AND SOLUTIONS, ENABLING EXCELLENT CUSTOMER EXPERIENCE THROUGH THE BROKER CHANNEL.

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CSIO 2015 ANNUAL REPORT MISSION, VISION & VALUES

VALUESCOLLABORATIVE WORKING TOGETHER TOWARD OUR COMMON INTERESTS WHILE RECOGNIZING THE COMPETITIVE NATURE OF THE INDUSTRY.

PROACTIVERECOGNIZING INDUSTRY CHALLENGES AND INFLUENCING THEM WITHIN OUR SCOPE.

RESPONSIVEDELIVERING TIMELY, RELEVANT SOLUTIONS.

DISCIPLINEDAPPLYING GOOD GOVERNANCE AT ALL LEVELS OF THE ORGANIZATION, RESULTING IN FOCUSED EXECUTION.

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MESSAGE FROM THE CHAIRMAN06

As the broker channel continues its drive to adopt new technology, we must bear in mind that without data standards, many of the workflow efficiencies and customer service gains we take for granted would not be possible. It seems that every day brings a new innovation in wearable technology or home monitoring solutions, making the telematics devices of just a few years ago seem almost quaint in comparison. And yet, without a common way for these devices to communicate the data they collect, their potential remains limited.

It is this type of change and fast-paced innovation that punctuates the importance of the role that CSIO has in our industry. When developed and maintained in close collaboration with the stakeholders who rely on them, standards are a tremendous equalizer. They build trust and confidence, enabling business between the brokerages, insurers and software vendors that make up the broker channel in Canada.

It is a testament to the power of standards that brokers and insurers can conduct business, anywhere and anytime, and exchange data seamlessly. As our industry begins to take advantage of the vast amount of data increasingly provided by connected devices, the standards for communicating that data will become more crucial than ever.

Steve Whitelaw, CSIO Chairman Vice President, Strategic Planning & ExecutionTravelers Canada

MESSAGE FROM THE CHAIRMAN

I would like to thank the countless broker, insurer and vendor members who contributed their time and effort to making CSIO standards possible. It is their participation and input that ensures the continued value of CSIO standards and industry forms, and their collective engagement and passion that drives such laudable progress within our industry.

I am deeply proud of the CSIO team for their tremendous work, and I am grateful to you, our members, for your unwavering support. I hope you share our excitement about CSIO’s path and the mutual opportunity we have, together, to leverage standards and advisory solutions to improve the competitiveness of the broker distribution channel in Canada.

Sincerely,

CSIO 2015 ANNUAL REPORT MESSAGE FROM THE CHAIRMAN 07


MESSAGE FROM THE PRESIDENT & CEO08

In many respects, 2015 was a year of transition for CSIO that will help define our future direction. To describe the year simply, there was a shift in focus that re-framed our efforts to strengthen the broker channel. That shift was born of two small, yet powerful words that were added to CSIO’s mission statement: the consumer.

Why this important change? While CSIO has long sought to improve industry workflow efficiency through solutions such as CSIOnet and eDocs, our members are well aware that there is a gap between what our industry has implemented and what today’s evolving consumer expects for convenience, mobility and paperless interactions. In expanding our mission, we built upon our role to find opportunities for CSIO solutions to directly improve the consumer experience by supporting the broker channel in closing the gap between expectation and reality.

To deliver on our renewed mission, we partnered with international advisory firm Forrester Research to better understand e-commerce and the habits of today’s evolving consumer with the most current and reliable data. This partnership promises to inform and support CSIO’s efforts in the years to come, already having identified key trends to address:

-More than half of Canadian millennials feel secure using digital channels to interact with financial services providers-65% of insured Canadians use a smartphone, and 31% are more likely to return to a website in the future if it is mobile-friendly

-27% of Canadians are interested in using a mobile digital wallet to store their driver’s license and other identification cards

With this data in hand, CSIO has developed numerous resources to support the broker channel in providing an exceptional e-commerce consumer experience. eDelivery is perhaps the best example of this strategy, a new solution that enables the electronic delivery of policy documents directly to consumers’ epost digital mailbox. With more developments set to follow in 2016, CSIO is committed to increasing the digital footprint of our industry for the benefit of all members.

In closing, I would like to thank our Board of Directors and employees. CSIO has an excellent foundation in place for advancing e-commerce technologies that would not have been possible without the dedication and contributions of each and every one of you.

Along with the management team, I am committed to building on our past successes, delivering on our full potential and providing long-term value to all our members and, ultimately, to improving the consumer’s ease of doing business within the broker channel.

Sincerely,

Catherine Smola President & CEOCSIO

MESSAGE FROM THE PRESIDENT & CEO

CSIO 2015 ANNUAL REPORT MESSAGE FROM THE PRESIDENT & CEO 09

Keith JordanPresident & Chief Executive Officer

Hub International Horizon Insurance

Ben Isotta-RichesChief Information Officer

Aviva Canada Inc.

THE CSIO BOARD OF DIRECTORS REPRESENTS A CROSS-SECTION OF INSURERS AND BROKERS ACROSS CANADA.


BOARD OF DIRECTORS10

Steve Whitelaw, ChairmanVice President, Strategic Planning & ExecutionTravelers Canada

Ted Harman, Vice-ChairmanPresidentAccent Insurance Solutions

Sean ChristieChief Information Officer & Vice President, Information ServicesGore Mutual Insurance Company

Bill SimmsCommercial Accounts DirectorCrosbie Job Insurance

Catherine SmolaPresident & Chief Executive Officer

CSIO

Dan Danyluk, Guest Member

Chief Executive OfficerInsurance Brokers

Association of Canada

BOARD OF DIRECTORS

CSIO 2015 ANNUAL REPORT BOARD OF DIRECTORS 11

John BelyeaChief Operating OfficerMoore-McLean Insurance Group

Syd ChurchVP Applications &

Strategic InitiativesWawanesa Mutual

Insurance Company

Jack OttSenior Vice President & Chief Information OfficerIntact Financial Corporation

Andrew WoodChief Information

OfficerNorthbridge Financial

Corporation

Sheldon WasylenkoGeneral ManagerRayner Agencies Ltd.

Paula SinclairSenior Vice President IT & Chief Information OfficerRSA Canada

CSIO 2015 ANNUAL REPORT 2015 HIGHLIGHTS12

2015 HIGHLIGHTS

“We are proud to be the first insurer in Canada to achieve CSIO Certification for eDelivery. This solution allows us to provide the type of fast, secure and electronic transactions that customers expect from financial institutions today, and certification provides assurance that our implementation will work seamlessly for all customers registered with epost.” – ANDREW WOOD CIO OF NORTHBRIDGE FINANCIAL CORPORATION & CSIO BOARD MEMBER

eDELIVERYFollowing our mission to improve the consumer’s ease of doing business within the broker channel, CSIO introduced its new eDelivery solution, which enables the electronic transmission of policy documents directly to insureds in place of paper and traditional mail. Members can send docu-ments through CSIOnet directly to a consumer’s Canada Post epost mailbox, a free service already used by over 9 million Canadians. eDelivery is an important resource for the broker channel in meeting modern consumers’ clear expectation for paperless technology.

eDelivery has been successfully implemented with one pilot insurer to provide modern and convenient direct-to-consumer service, leading to significant administrative cost savings and increased customer satisfaction. It is anticipated that 2016 will see further adoption as more members add eDelivery to their IT roadmaps.

CSIO 2015 ANNUAL REPORT 2015 HIGHLIGHTS 13

9M CANADIANS

USE CANADA POST’S ePOST FOR eDELIVERY OF FINANCIAL DOCUMENTS

CSIO 2015 ANNUAL REPORT 2015 HIGHLIGHTS14

eDOCS CERTIFICATION FOR COMMERCIAL LINESCSIO expanded its certification program to include eDocs for commercial lines, promoting the standardized implementation of eDocs to ensure maximum efficiency among members. Industry response has been overwhelmingly positive, with five companies achieving certification in a short period of time, and more in progress for 2016. As commercial policies are often larger and more complex than those in personal lines, standardized commercial eDocs can provide even more dramatic cost savings and workflow gains.

CSIOnetIn 2015, CSIO migrated its data exchange network, CSIOnet, to a new, modern platform. The migration was conducted in partnership with numerous members to ensure adequate testing and a seamless transition. The new CSIOnet is a high-capacity, reliable system that can scale to accommodate the growing volume of transactions members transmit every year, providing fast and reliable data exchange to maintain workflow efficiency for CSIO members.

“COMMERCIAL CLIENTS OFTEN NEED A CERTIFICATE OF INSURANCE RIGHT AWAY – WITH COMMERCIAL eDOCS, WE’RE ABLE TO PREPARE THAT CERTIFICATE, CON-FIRMATION OF COVERAGE AND BINDER LETTER WITH THE STROKE OF A KEY AND SEND IT OVER. WE’VE HAD CONTRACTORS TELL US THEY’VE WON CONTRACTS BECAUSE OF OUR ABILITY TO RESPOND TO THEIR NEEDS RIGHT AWAY.” – DEAN MORRISSEY PARTNER, MERIT INSURANCE BROKERS

CSIO 2015 ANNUAL REPORT 2015 HIGHLIGHTS 15

OF BROKERS HAVE A MOBILE WEBSITE NATIONALLY, AND THAT NUMBER CONTINUES TO RISE

MOBILE MAPConsumer culture continues to evolve, particularly when it comes to using mobile devices to shop for insurance – over 40% will exclusively use a mobile device to research insurance. Even more important, 61% of mobile users visiting a non-mobile website will leave it immediately. To promote the widespread adoption of mobile websites among insurance brokers, CSIO researched and developed the Mobile Website Adoption Map, showing the rate of website and mobile website adoption among brokers by province.

MEMBER SURVEYCSIO conducted a comprehensive member survey to evaluate members’ awareness, usage of and attitudes towards CSIO standards, services and educational materials. The response was over-whelmingly positive, with hundreds of responses spanning broker, vendor and insurer members in varied roles throughout the industry. The feedback received will be used to align CSIO resources, communications and services with the needs identified by members moving forward.

48%CU

RR

ENTL

Y

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CSIO 2015 ANNUAL REPORT 2015 HIGHLIGHTS

2015 MEMBERS’ MEETING & RECEPTIONIn a year when CSIO expanded its mission to improve the consumer’s ease of doing business within the broker channel and launched a new three-year strategic plan, it was only fitting that the Annual Meeting take on an expanded scope as well. Held at The National Club and featuring marquee speaker Douglas Porter, Chief Economist at BMO Financial Group, CSIO 2015 Members‘ Meeting & Reception attracted more than 100 member executives and brokers for an invaluable afternoon of engagement and networking.

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CSIO 2015 ANNUAL REPORT 2015 HIGHLIGHTS

KEYNOTEADDRESS BYBMO

CHIEF ECONOMIST

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MEMBER RESOURCES & TOOLS


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CSIO 2015 ANNUAL REPORT MEMBER RESOURCES & TOOLS

MEMBER RESOURCES & TOOLS 63,000+ VISITS TO CSIO.COM

SEO WHITE PAPER AND VIDEOSThis new expansion of Advisory Services educates brokers on strategies to attract more visitors to their website and convert them to customers. Resources such as the white paper Search Engine Optimization (SEO) Tips for Brokers, a four-part Crash Course on SEO video series and a national webinar attracted over 900 combined views and attendees, gaining significant positive response from members.

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BROKER TECHNOLOGY SCORECARDSThe CSIO Technology Scorecard provides brokerages with a snapshot view of their technology adoption in comparison to the provincial average, motivating brokers to reach or even surpass the average. Launched at broker conferences in the fall of 2015, the scorecards identify top-performing brokerages across Canada, encouraging further technology adoption for a stronger competitive position.

VENDOR FORMS INVENTORYDeveloped in response to member requests, the Vendor Forms Inventory is a valuable tool for brokers that displays the latest version of CSIO industry forms implemented by various Broker Management System (BMS) platforms. The inventory empowers brokers to ensure they use the most current CSIO forms, and encourages the implementation of updated forms within each BMS.

“THE SCORECARD IS A GREAT RESOURCE FOR BROKERS – WE SAW IMME-DIATELY AREAS WHERE WE NEEDED TO IMPROVE, AND CSIO WAS RIGHT THERE TO SUPPORT US IN MOVING FORWARD WITH A SOLID TECHNOLOGY PLAN IN OUR BROKERAGE. I LOOK FOR-WARD TO SEEING WHAT THEY ADD TO IT IN THE FUTURE.” – JAMES ARCHER PRESIDENT, KNIGHT ARCHER INSURANCE BROKERS

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CSIO 2015 ANNUAL REPORT MEMBER RESOURCES & TOOLS

STANDARDS AND FORMS REQUEST TOOLCSIO data standards and industry forms play an integral role in improving workflow within the broker channel, and continue to do so because of members who identify areas for improvement and submit enhancement requests. The updated Enhancement Request tool on CSIO.com enables members to view current requests prior to submit-ting their own, avoiding duplication and remaining up-to-date on evolving industry requirements.

PERSONAL LINES eDELIVERY CALCULATORThe Personal Lines eDelivery Calculator is a valuable tool that CSIO members use to build the business case for eDelivery within their organization, analyzing mailer volume and associated costs to provide an estimate of Return on Investment (ROI) over 1, 3 and 5 years.

TECHNOLOGY SCORECARDSDELIVERED TO MEMBERS1,000O

VER

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MEMBER ENGAGEMENT

MEMBER ENGAGEMENT

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CSIO 2015 ANNUAL REPORT MEMBER ENGAGEMENT

NEWSLETTER

Launched in September, CSIO’s monthly newsletter reaches thousands of members across Canada to keep them informed of important technology updates, new initiatives and industry news. Identified as the preferred means of communication by 84% of CSIO member survey respondents, the newsletter responds directly to member needs and provides regular, meaningful engagement with CSIO.

WEBINARS & PRESENTATIONS

Recognizing the importance of live meetings with members, CSIO hosts online webinars and travels across Canada to deliver presentations on consumer trends and technology implementation. Presentations in 2015 included: Canadian Association of Mutual Insurance Companies, eSignatures webinar, Online Presence webinar, IBAA Convention, IBAO Young Brokers Council, IBAM Youth Broker Committee, and Applied Client Network in the Atlantic and Southwest Ontario.

84%CSIO’S NEWSLETTER IS THE PREFERRED MEANS OF COMMUNICATION BY

OF ITS MEMBERS


STANDARDS24

STANDARDS

CSIO 2015 ANNUAL REPORT STANDARDS 25

20,000+CSIO STANDARDS INCLUDE

CSIO XML and EDI data standards continue to serve the needs of the broker channel, used by members to transmit over 32 million transactions in 2015. While updates to the standards are typically released twice annually, the CSIO standards team introduced a new, scalable update protocol that enables the rapid release of small, interim updates should the need arise.

CODES AND DATA ELEMENTS


CSIO MEMBERS26

WELCOME TO CSIOCSIO WAS PLEASED TO WELCOME THE FOLLOWING INSURER AND VENDOR COMPANIES TO ITS MEMBERSHIP IN 2015:BrokerCore Inc.CAA Insurance CompanyHagerty CanadaInsly Ltd.Middlesex Mutual Insurance CompanyNorfolk Mutual Insurance CompanyPafco Insurance CompanyTown & Country Mutual Insurance

INSURANCE COMPANIES Aviva Canada Inc.Chubb Insurance Company of CanadaCUMIS General Insurance CompanyEchelon General Insurance Company

Economical InsuranceThe Guarantee Company of North AmericaIntact InsuranceL’Unique General InsuranceNorthbridge InsuranceOptimum General Inc.Peace Hills General Insurance CompanyPembridge Insurance CompanyRSA CanadaSGI CANADASovereign General Insurance CompanyTravelers CanadaUnica InsuranceWawanesa Mutual Insurance Company

VENDORSApplied Systems Inc.CGI Group Inc.Custom Software Solutions Inc.Family Insurance Solutions Inc.Groupe Ultima Inc.Hubio CanadaIndependent Broker Resources Inc. (IBRI)Informco Inc.Insurance Systems Inc. (ISI)Insurance Visions, Inc. (ecertsonline)Keal TechnologyLogiciels Deltek Inc.MASTERCOM Consulting Ltd.Mutual Concept Computer Group Inc.Ontario Mutual Insurance AssociationOntario Teachers Insurance Plan (OTIP)Policy Works Inc.PowerSoft Development Corp.Promutuel Insurance Inc.SCM Risk Management Services Inc.SEH Computer SystemsSharp InsuranceSurex Direct Ltd.VertaforeWestland Insurance Group Ltd.Willis Towers WatsonZycomp Systems Ltd.

CSIO IS PROUD TO REPRESENT

ACROSS CANADA

7429

+35K IN

SUR

ERS

VEN

DO

RS

BR

OK

ER

S

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CSIO MEMBERS

CSIO 2015 ANNUAL REPORT CSIO MEMBERS 27

BROKER ASSOCIATIONSIBAC - Insurance Brokers Association of CanadaIBAA – Insurance Brokers Association of AlbertaIBABC – Insurance Brokers Association of British ColumbiaIBAM – Insurance Brokers Association of ManitobaIBAN – Insurance Brokers Association of NewfoundlandIBANB – Insurance Brokers Association of New BrunswickIBANS – Insurance Brokers Association of Nova ScotiaIBAO – Insurance Brokers Association of OntarioIBAPEI – Insurance Brokers Association of PEIIBAS – Insurance Brokers’ Association of SaskatchewanRCCAQ – Regroupement des cabinets de courtage d’assurance du QuébecToronto Insurance Conference

CAMIC – CANADIAN ASSOCIATION OF MUTUAL INSURANCE COMPANIES Algoma Mutual Insurance CompanyAyr Farmers Mutual Insurance CompanyBay of Quinte Mutual Insurance CompanyBrant Mutual Insurance CompanyCommonwell Mutual Insurance GroupDufferin Mutual Insurance CompanyDumfries Mutual Insurance CompanyEdge Mutual Insurance CompanyFundy Mutual InsuranceGermania Mutual Insurance CompanyGore Mutual Insurance CompanyGrenville Mutual Insurance CompanyHalwell Mutual Insurance CompanyHeartland Farm Mutual Inc.Howick Mutual Insurance CompanyHTM Insurance CompanyKent & Essex Mutual Insurance CompanyThe Kings Mutual Insurance CompanyLambton Mutual Insurance Company

Ledor AssurancesPeel Mutual Insurance CompanyPortage La Prairie Mutual Insurance CompanyPromutuel Assurance Appalaches – St-FrançoisPromutuel Assurance Inc.Promutuel Assurance BagotPromutuel Assurance Beauce-EtcheminsPromutuel Assurance Bois-FrancsPromutuel Assurance Coaticook-SherbrookePromutuel Assurance Deux-MontagnesPromutuel Assurance DrummondPromutuel Assurance de l’EstuairePromutuel Assurance du Lac au FleuvePromutuel Assurance LanaudièrePromutuel Assurance LotbinièrePromutuel Assurance L’OutaouaisPromutuel Assurance Monts et RivesPromutuel Assurance Montmagny-L’IsletPromutuel Assurance Portneuf-ChamplainPromutuel Assurance Rive-SudPromutuel Assurance Vallée du St-Laurent Promutuel Assurance Vaudreuil-SoulangesPromutuel Assurance Verchères – Les ForgesRed River Mutual Insurance CompanySaskatchewan Mutual Insurance CompanySouth Easthope Mutual Insurance CompanyTownsend Farmers’ Mutual Fire Insurance CompanyTrillium Mutual Insurance CompanyWabisa Mutual Insurance CompanyWest Wawanosh Mutual Insurance CompanyWestminster Mutual Insurance Company

Centre for Study of Insurance Operations110 Yonge Street, Suite 500

Toronto, ON M5C 1T4(800) 463.2746

Centre d’étude de la pratique d’assurance1155, blvd Robert-Bourassa, bureau 1305

Montreal, QC H3B 3A7(877) 393.2372

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CSIO 2015 Annual Report

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