CLIEDIS held its 2015 Annual Seminar on April 23, 2015. The theme of the seminar, "The Power of Momentum...Results," was proven. As an industry, we are seeing real progress with data exchange.
Attendees received great advice at the panel discussion, Preparing for Project Initiation and Post-Implementation / Practical Advice, which focused on recent implementation activity with CITS data feeds. Throughout the day, speakers echoed the need for data to support compliance and improve business processes.
Implementation Progress Report
At the seminar session, Industry Update on Data Exchange, CLIEDIS member companies provided an update on their new implementations as well as plans for the next 18 months.
A chart in the Materials attachment at the end of this update summarizes these plans.
For the CITS Pending Case Status Feed:
- 9 out of 10 reporting member companies will have the feed in place by year end.
- 2 carriers have improvements scheduled in the next 18 months.
For the new CITS Base Policy Feed for Inforce:
- 1 carrier is now providing this feed as of February 2015
- 5 additional carriers will be offering this feed in the next 18 months.
For eApp Systems and corresponding eApp Notification feeds:
- 5 new carriers provided an eApp System within the last 6 months bringing the total to 6.
- 3 of those carriers also provided a corresponding feed.
- All reporting member carriers will have an eApp system in the next 18 months.
- 5 additional eApp Notification feeds are scheduled in the next 18 months.
CLIEDIS Seminar in the News
The Emerging Regulatory Issues session at the seminar highlighted the need for distributors to receive electronic data feeds. Heather Clarke, VP at Investors Group, and Dennis Craig, VP at RBC Insurance, provided different perspectives on how data supports regulations. They spoke about the regulatory obligations the distributors must meet and the level of integration and data sharing required between the carrier and distributor to meet those requirements.
eApp Communication Best Practices
CLIEDIS recently published a paper that addresses eApp Communications Best Practices.
The paper examines the impact an eApp solution has on the business processes for a distributor. It identifies best practices to ensure a successful rollout of an electronic application solution, including recommendations for:
- Specific data sharing requirements
- Project planning and testing expectations
- Level and type of communications needed with distributors and agency management vendors throughout the process.
The paper is available for the benefit of CLIEDIS members on the CLIEDIS website in the Resource Centre, search on eApp to find the document.
CLIEDIS will continue to research issues and update the eApp Communications Best Practices document as new issues and opportunities are identified.
CLIEDIS plans to expand on these findings and document best practices relating to all CITS data feeds later this year. Look for more information on this work in the coming months.
Updated CITS Advisor Screening Implementation Guide and Comparison Document Released
CLHIA replaced its advisor screening questionnaire for use in the MGA channel. The new standard CLHIA Advisor Screening Questionnaire (ASQ) is now in use for communication between carriers and distributors, as of April 2015.
The CITS Advisor Screening Implementation guide replaces the original CITS Agent Contracting Implementation Guide that was based on the CLHIA Guideline G8 questionnaire.
We have also provided members with a comparison of the differences between the two questionnaires in a business friendly form, available on CAIR.
Revamped CLIEDIS Approval Process
CLIEDIS introduced a revamped CLIEDIS approval process during a webinar on May 7th. All companies receiving CLIEDIS approval in 2015 have met this new level of approval. With the enhanced approvals, CLIEDIS is now evaluating that the underlying business content in a CITS data feed is correct. This is in addition to ensuring technical compliance that was the focus of the original approval process. With this high level of validation, recipients of CITS data feeds are able to load data into their system consistently, interpret it correctly and rely on the information for their internal business processes.
The following companies' data feeds have been approved in 2015 as of April 30, 2015. They have all been approved at both a technical and business content level:
CITS eApp Notification:
- Manulife: Approved March 3, 2015, includes both paper and electronic applications
- Canada Protection Plan: Approved March 26, 2015
- Empire Life: Approved April 14, 2015, includes PDF images of the electronic application
- Transamerica Life: Approved April 17, 2015
- Empire Life: Approved April 16, 2015
CITS Base Policy for Inforce
- Industrial Alliance: Approved February 18, 2015
New CLIEDIS Members
We are pleased to announce the following companies have joined CLIEDIS this past quarter: