Brokerage Tech Adoption Increases Across Canada
CSIO Technology Scorecard Update
Toronto, ON (Jan. 6, 2017) – The Centre for Study of Insurance Operations (CSIO) is pleased to announce that brokerage adoption of nine key technologies has risen by 12% across Canada, to a new high of 69%. This announcement kicks off the second year of CSIO's Technology Scorecard, which compares brokerage adoption against the provincial average of the following technologies: eDocs, CSIOnet, Auto & Habitational eForms, eSignatures / Call Recording, TLS eMail Security, Brokerage Website, Mobile Website, SEO, and Social Media.
Notable statistics include:
- The technology solutions with the highest adoption increases are mobile-optimized websites, which increased from 39% in 2015 to 53% in 2016, and eDocs, which increased from 52% in 2015 to 70% in 2016;
- Nearly all brokerages (86%, up from 75%) use TLS eMail Security, an inexpensive and easily implemented form of encryption for enhanced protection of email communications;
- Surprisingly, 11% of brokerages still do not have a website at all, limiting their ability to attract and retain new customers.
For overall adoption statistics by province, see the Technology Adoption Map.
"This update proves that the broker channel has made commendable progress in adopting digital solutions since the initial scorecard assessment in early 2015," notes Catherine Smola, President & CEO of CSIO. "We continue to advocate for the use of technologies such as eDocs and eSignatures in the broker channel, meeting consumer expectations for digital service and strengthening the competitive position of the broker channel."
CSIO will update the scorecard regularly to reflect current adoption rates. Be sure to check the tool to see if your province has raised its brokerage average.
About Centre for Study of Insurance Operations (CSIO)
CSIO is Canada's industry technology association of property and casualty insurers, software providers and over 35,000 brokers. CSIO is committed to improving the consumer's ease of doing business within the broker channel by overseeing the development, implementation and maintenance of technology standards and solutions such as eDocs, Telematics, eDelivery and eSignatures. In addition, CSIO operates CSIOnet, a secure, industry-owned platform for the efficient exchange of policy information for the broker channel. CSIO maintains offices in Toronto and Montreal. For more information, visit csio.com.
SOURCE: Centre for Study of Insurance Operations (CSIO)
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