The Commercial Lines Minimum Data Set by Industry
43 underwriting data risk attributes make up the Minimum Data Set (MDS) needed to underwrite all types of commercial risks. The Commercial Lines (CL) Working Group has incorporated hundreds of Insurance Bureau of Canada (IBC) codes into the MDS for various customer industries. This allows brokers to pass multiple IBC codes under different industries. Below are the IBC codes that the CL Working Group has published.
78 IBC codes I (96% of all IBC business and professional services codes)
70 IBC codes
(74% of all IBC contractors codes)
21 IBC codes
(78% of all IBC hospitality codes)
24 IBC codes
(75% of all IBC real estate codes)
74 IBC codes
(88% of all IBC retail codes)
23 IBC codes
(64% of all IBC health services codes)
11 IBC codes
(61% of all IBC warehousing services codes)
Details Coming February 2024
The CL MDS helps brokers, insurers and vendors achieve:
Reduced Wait Times
Quotes in seconds, not days, thanks to standardized data and dynamic underwriting questions based on IBC risk codes.
Industry-Wide Adoption
Systems talk to one another more efficiently and accurately by exchanging data in a structured format along the insurance value-chain.
Accurate Real-Time Quotes
Accelerating information flow between insurers and brokers allows dynamic, real-time pricing that accommodates limit and risk changes.
Download CL MDS Question Sets by Industry
To enable real-time quoting, insurers and vendors can download the CL MDS Question Set for each industry below and program it into their systems. You can also view our list of certified members.
Business and Professional Services I Contractors I Hospitality I Real Estate l Retail I
Health Services I Warehousing Services
Getting Started
Helpful information for brokers, and resources for insurers and vendors to program the Commercial Lines Minimum Data Set (CL MDS) and achieve certification in CSIO Commercial Lines Data Standards.
Easily verify whether your systems have the proper data elements to implement the Commercial Lines Minimum Data Set.
Helps insurer and vendor members better understand the data elements of the Commercial Lines Minimum Data Set.
Get started on achieving Commercial Lines Certification by programming and implementing the CL Data Standards.
Testimonials
-
"The industry is cooperating to move forward so quickly with updated commercial data standards.
The full underwriting information and coverage requirements get loaded to the insurer’s system for review, quoting and response, with no re-keying of data. The benefits to broker workflow are enormous."
Stacey Miranda, Director, Product Management,
Vertafore -
“Data standards for commercial lines will be nothing short of transformational for insurers and brokers across Canada -- and of course, for their customers, too. Standards have the potential to help us quote, bind and issue policies more quickly. They will help eliminate much of the double-entry and manual processes that add time and cost to how we write commercial business today.”
Laura McDonald, 2VP Select Product & Platform Strategy,
Travelers Canada
