CAA Insurance goes live with iter8 statistical reporting solution

Market leader regul8 now live with CAA Insurance

January 2013: iter8, a leading software solutions provider to the insurance industry, is pleased to announce that CAA South Central Ontario (CAA SCO) has gone live with their new regul8 solution for Insurance Bureau of Canada (IBC) and Risk Sharing Pool (RSP) reporting. CAA SCO will be using regul8 to handle policy and claims reporting requirements that address their automobile business.

CAA SCO replaced their legacy systems in 2012, migrating to Guidewire Insurance Suite™ which includes underwriting, policy administration, billing and claims management systems. This represented an excellent opportunity to implement a new modularized, S.O.A. based regulatory reporting solution that provides advanced features including automatic error correction and improved ease of use for reporting staff. CAA SCO chose regul8 to replace and modernize their statistical reporting and integrate with Guidewire Insurance Suite™. The pre-built templates and UI for regul8 were configured to extract, transform, edit, correct and store data.

The new regul8 solution went live early in December, and CAA SCO is extremely pleased with the results. Robin Joshua, Director, Corporate Underwriting & Risk Management, commented, “In 2012 we undertook a major upgrade in our systems which made for a year of change, and we are very pleased with the end results. iter8 and our internal team were able to successfully implement a solution on time that has exceeded our expectations. regul8 delivers as-promised, it is accurate, proven, and reliable and I can rest-easy knowing it can handle our current and ever-changing statistical reporting needs.”

Having integrated regul8 with the Guidewire suite at CAA SCO, iter8 foresees leveraging the experience gained, and the knowledge of data formats, to replicate regulatory reporting solutions for other insurance carriers.

Glen Piller, President and CEO of iter8 said, “When the first version of regul8 was launched 10 years ago, we had no expectation that it would grow to become the leading statistical reporting solution in the country, and that so many insurance carriers would elect to work with iter8. CAA has a long-standing history as an innovative leader committed to meeting and exceeding the needs of Canada's motoring and travelling public and we are pleased to count them as customers and partners.”

About iter8

iter8 Inc. is a software solutions provider to the Property and Casualty Insurance Industry, its products designed to increase profitability by solving problems through smart innovation and proven expertise in both the insurance business and in technology, implementation, and service.

A market leader in the Canadian market, iter8 has a track record of successfully streamlining insurance processes, improving time-to-market, and saving companies’ money. iter8 has helped countless insurers in successfully integrating brokers, developing web services, and enhancing underwriting. When it’s worth doing, it’s worth doing right, and iter8 strives to always do it right.

About CAA SCO

CAA South Central Ontario is a not-for-profit auto club offering insurance, travel, automotive care and roadside services. There are more than 1.9 million CAA members in South Central Ontario and over 5.6 million members in Canada. We’re more than Roadside Assistance. We’re Life-side Assistance.

Visit www.caasco.com.

For more information, please contact:

Silvana Aceto, Media Relations & PR Specialist

CAA South Central Ontario

Tel: (905) 771-3194

Cell: (416) 209-4930

 

For more information, please contact:

David Gallagher, VP, iter8

dgallagher@iter8.com

888 999 7107 x490

 

Note: Guidewire Insurance Suite is a trademark of Guidewire Software, Inc.