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Milestone for Commercial-Lines Brokers: CSIO Data Standards Ready for Implementation

November 30, 2018   (0 Comments)

The minimum data set for CSIO XML standards in commercial lines has been finalized. First announced in July, the data set consists of the common data elements used by carriers to underwrite commercial risks, regardless of complexity, and has been mapped to CSIO's XML data standards.

“This is a transformational development for the broker channel. We’ve already witnessed the benefits of data standards in personal lines: We are on the cusp of bringing the same benefits to commercial brokers, underwriters, and ultimately the consumer.”

— Brian Warkentin, Assistant Vice President at Aviva Canada

CSIO is also working with members to develop a commercial certification program, defining implementation requirements that support the seamless exchange of policy data between brokers and carriers for faster quotes, reduced double entry, download of basic commercial policy data, and streamlined eDocs workflow. Certification will recognize carriers and BMS vendors that meet those requirements, promoting and encouraging compliance with the standards throughout the broker channel.

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