Nearly 60% Of Canadians Prefer Digital Insurance Documents

Grant Patten, Digital Media & User Experience Specialist, CSIO | Atlantic Insurance Broker, Aug. 2018

Over half of Canadians (58%) who purchase auto insurance want to receive their insurance documents electronically – rising to 71% among millennials, according to a recent Insurance Bureau of Canada (IBC) survey. Fortunately for insurance brokers, CSIO’s My Proof of Insurance eDelivery solution enables them to do just that, for both personal and commercial lines as well as for electronic auto insurance liability cards (eSlips).

All at no additional cost to CSIO members. Brokerages that belong to IBANB, IBANS, IBAN or IBAPEI are automatically members of CSIO.

Uptake of the solution has been especially strong in Nova Scotia, partly in response to their insurance regulator being the first in Canada to approve eSlips. Over 60% of IBANS members have registered as of this writing.

IBAN has endorsed the solution for its members as well, says President Jason Sharpe. “It truly is a game-changer, levelling the playing field for any broker looking to expand their digital service footprint.”

Customer focus

CSIO conducted extensive market research to better understand consumer expectations and behaviours prior to developing this solution, ensuring that it would meet those expectations upon launch. The data showed:

  • 74% of consumers want to receive their insurance documents electronically (IBC)
  • Only 4% of Canadians have downloaded an insurance company app (Forrester Research)
  • Mobile app installs in the United States decreased by 38% from 2014-2016 (Adobe Digital Insights)

The research found that consumers typically minimize the number of apps they have on their phone, preferring to preserve memory for photos and videos. The apps they do download are the ones they use on a regular basis, such as social media, banking and games.

Therefore, My Proof of Insurance eDelivery was developed as a push solution that sends policy documents over email, leveraging a technology that most customers already use in their day-today life – no need to download a separate app or create login credentials.

To provide consumers with a consistent experience regardless of their insurance provider, all emails come from the “@myproofofinsurance. ca” domain. In addition, to support brokers in communicating the benefits of this solution to the public, CSIO has launched the consumer-facing informational website www.myproofofinsurance. ca. The content includes an educational video, step-by-step instructions, and an FAQ section.

Co-branded emails

One of the most important features of this solution is co-branding. Emails sent through My Proof of Insurance eDelivery include both the carrier and broker logos, reinforcing the consumer’s relationship with their broker regardless of which company sends the email.

The result is a consistent customer experience that increases the value proposition of brokers and carriers equally. “What impresses me the most is the dual functionality of the software for brokers and carriers, as well as the cost effectiveness of adoption at the brokerage end,” says Rose Cavaliere, Operations Manager at Dawson & Keenan Insurance. “The simple design of the application brings true value to the ease of doing business in the digital world.”

Brokerage benefits

This solution provides brokerages of all sizes with a fast, easy and convenient way to provide consumers with an essential digital service, without adding costs to their bottom line. Simply by signing up, brokers ensure that their logo will automatically be included in all My Proof of Insurance eDelivery emails sent to customers, and their BMS will receive Sent Message reports as part of their daily eDocs download.

Getting started

Brokerage registration and setup for the My Proof of Insurance eDelivery solution takes as little as one business day:

  1. Log into your personal account on CSIO. com. Members may also create an account if they do not already have one.
  2. Ensure your organization has a CSIOnet mailbox.
  3. Prepare a copy of your brokerage logo.
  4. Designate an Organization Administrator to register for your company’s primary My Proof of Insurance eDelivery account.

Next steps

CSIO has provided dozens of walkthroughs for industry stakeholders including members, regulators, and provincial broker associations. “These webinar walkthroughs have been very helpful so far in demoing the overall functionality of the My Proof of Insurance eDelivery solution,” says Catherine Smola, President and CEO of CSIO. “We are committed to educating the entire P&C industry about this solution, as we know that widespread adoption of My Proof of Insurance eDelivery is how as many consumers as possible will benefit from digital policy document delivery.”

Visit CSIO.com for registration and more information on the My Proof of Insurance eDelivery solution, including videos and upcoming webinars.

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