ORBiT Ontario Real-Time Brokers in Transition Presenters: Wendy Watson, The Precept Group Paul Taylor, IBAO Scott Wagler, Josslin Insurance February 23 rd, 2009 Toronto, Marriott Eaton Centre Hotel “Leadership: The Business - IT Imperative”

Introducing ORBiT ORBiT is a committee of: Brokers Vendors Companies CSIO – Standards PARTNERS FOR THE FUTURE

Why Our Industry Needs ORBiT Broker Findings Decreased Revenue Decreased PIF Meeting client expectations Increasing HR issues Keeping up with change Company Findings Negative impact of distribution changes Decline in Revenue Keeping technology current Drop in PIF HR issues Diminished profitability

Why our Industry Needs ORBiT Brokers need to: Get the tools & resources to do the job Train staff to be pro- active Create a sales culture Embrace change Invest in technology for improved productivity Companies need to: Invest in technology Embrace change Better training for staff Foster a sales culture

Why ORBiT Committee Exists 1. Educate brokers on Real Time with information on what tools are available so they can make an educated decision on how to improve their workflows 2. Focus our industry on workflow issues to help the broker channel remain profitable in an environment where we are losing market share 3. Identify bottlenecks in typical insurance transaction workflows and develop priorities to remedy the bottlenecks 4. Help BMS’s, vendors and companies put technology together with the most efficient workflows

The Common Message It’s about workflows, not technology Workflows have to be simplified – once and done – Ease of doing business – Superior customer service CSIO standards are key to quality data Need to do a better job of managing change

ORBiT Goals To educate Ontario brokers and companies on Real Time workflows To work with our industry partners to implement Real Time workflows and solutions to improve efficiencies, improve service levels, reduce costs and improve profitability and increase sales for all concerned To facilitate more open communication between brokers, BMS, vendors and Insurance company partners To create a forum to speak with a unified broker voice To work with CSIO to continually improve standards for all lines of business

ORBiT Core Values Of common purpose is the essence of ORBIT. It is about workflows, not technology, so members are required to check their system at the door, to be able to keep an open mind to improve Real Time for the industry. We will not put one BMS/Vendor ahead of another. All recommendations for Real Time workflows must be SEMCI (single entry multi-company interface) All transactions follow CSIO standards, including the data format standard and the data transport standard All transactions must start and end in the heart of the brokerage, the BMS

ORBiT Working Groups 1. Minimize password management 2. Real Time payments 3. Real Time inquiry for billing, policy and claims, with a return document 4. Clean download 5. Renewal PDF downloads 6. Underwriting approval and binding 7. Media and Education 8. Commercial Lines

ORBiT Working Group Members at least five (5) brokers from each BMS; one per work group CSIO All major BMS’s Vendors working between carriers and BMS Insurance companies IBAC IBAO

WII-FM? Win the competition for producer mindshare Free up underwriters to underwrite Survey results of local brokerage – 24 seconds RT inquiry – 123 seconds (2 minutes) via website – 240 seconds (8 minutes) via phone

ORBiT Membership Still Open Brokers PowerBroker users CSSI users CIM-Data users

The Big Three: Can They Build a Car Together? GM, Ford, Chrysler are asked to build a vehicle following strict consumer requirements and industry standards. Criteria: – Must follow industry emission standards – Must follow minimum height standards – Must meet minimum fuel efficiency standards – Must follow minimum safety standards – Must meet minimum capacity standards

Independently… Each company built a product on the standards they believed the consumer requested Each vehicle meets the standards required, but at different levels and priorities.

Humpty Dumpty We now have a vehicle that meets safety standards, emission standards, height standards, fuel efficiency standards and capacity standards, however….. The vehicle can’t be put together!

Working Together When all three companies agree on the standards and criteria, the industry can build a product: the consumer wants that fits together

Achieving Goals and Visions Through Collaboration Real-Time Tech Partnership messag e CSI O xPath XML entity codes eleme nt aggregate schema Vendor CSI O System s CSR Product s Company Vendo r Broker Company

Real Time Workflows in Acton We demonstrated Real Time workflows currently in use for Applied Systems, SigXP and PowerBroker. Please visit each vendors website for a sample of what they can do.

Real Time Workflows in Action CSIO Standard XML New Business with Custom Software Solutions Inc. and Aviva follows:

The CSIO Insurance Application

Send Data to Insurance Company The Broker uses I-Biz (Full Business-to- Business Electronic Data Exchange) to send edited and underwritten application risk data electronically to the Carrier Insurance Company. I-Biz Broker I-Biz Company New Policy Change Request Cancellation Reinstatement

Receive Data from Insurance Company With I-Biz, the processed policy data then flows electronically from the Carrier Insurance Company back to the Broker’s office. New Policy Change Request Cancellation Reinstatement Renewal I-Biz Broker I-Biz Company

Policy Details

Automatic Management-System Updates Whether the Broker is using The Broker’s Workstation or a third-party Broker Management System, the processed policy data can, using CSIO download, automatically update the Broker’s client management, accounting, and billing systems. I-Biz BrokerI-Biz Company TBW Integrated Management System 3 rd Party Broker Management System

Finalize Business with Client The Broker completes the full transaction with the Client and, if the Company allows, can provide the Client with a copy of the new policy documents. ClientI-Biz Broker Policy business is finalized with Client

Questions?