The Insurance Brokers Association of Canada (IBAC) is the national voice of P&C (Property and Casualty) insurance brokers and an advocate for insurance consumers. IBAC represents the interests of both insurance brokers and their customers.
By promoting the value of the property and casualty insurance broker to Canadians, IBAC plays an important role in maintaining continuous dialogue among members and within the industry, ensuring that brokers stay well-informed on matters of interest to them and their clients.
As a central voice, monitoring the industry and bringing about important changes, IBAC aims to uphold insurance brokers’ standards, safeguarding their service and integrity, and ensuring that individual and commercial clients will have professional advice and freedom of choice in their selection of property and casualty insurance coverage.
As a non-profit federation of associations, IBAC does not itself build or even endorse specific technology or products. Instead, we liaise continuously with industry stakeholders– technology vendors, carriers, and other service providers – to encourage development that helps brokers to deliver their unique values of choice, advice and advocacy to Canadian Insurance consumers. It is IBACtech’s responsibility to communicate to brokers’ industry partners, the needs, priorities and challenges that changing technology brings to broker’s service delivery.
As a non-profit federation of associations, IBAC does not itself build or even endorse specific technology or products. Instead, we liaise continuously with industry stakeholders– technology vendors, carriers, and other service providers – to encourage development that helps brokers to deliver their unique values of choice, advice and advocacy to Canadian Insurance consumers. It is IBACtech’s responsibility to communicate to brokers’ industry partners, the needs, priorities and challenges that changing technology brings to broker’s service delivery.
As a non-profit federation of associations, IBAC does not itself build or even endorse specific technology or products. Instead, we liaise continuously with industry stakeholders– technology vendors, carriers, and other service providers – to encourage development that helps brokers to deliver their unique values of choice, advice and advocacy to Canadian Insurance consumers. It is IBACtech’s responsibility to communicate to brokers’ industry partners, the needs, priorities and challenges that changing technology brings to broker’s service delivery.
Helps educate brokers on the new technology to get great adoption.
Co-operation among all industry stakeholders including brokers, vendors, and insurance companies on technology related initiatives;
On Brokers’ application and use of technology, to reinforce and streamline the value-added provided by the broker distribution channel;
Canadian brokers, via their provincial associations on a range of technology issues and developments;
For Canadian brokers concerns on a national level with insurers, vendor’s and other interested parties on technology issues;
The knowledge and work being done in the United States, in so far as it applies to us here in Canada, participating and communicating within American forums.
Co-operation among all industry stakeholders including brokers, vendors, and insurance companies on technology related initiatives;
On Brokers’ application and use of technology, to reinforce and streamline the value-added provided by the broker distribution channel;
Canadian brokers, via their provincial associations on a range of technology issues and developments;
For Canadian brokers concerns on a national level with insurers, vendor’s and other interested parties on technology issues;
The knowledge and work being done in the United States, in so far as it applies to us here in Canada, participating and communicating within American forums.
Together, brokers and Insurers can ensure that consumers are never disadvantaged by new technology. IBAC asks Insurers to work collaboratively with brokers and commit to the principles outlined below in developing on-line services for customers. In partnership, brokers and Insurers offer unequaled value, delivering the full capability of digital communication enriched by the unique benefits of broker advice, choice and advocacy.
Digital customer service delivered collaboratively by brokers and Insurers, in keeping with their respective responsibilities;
IBAC speaks with one voice on technology and works collaboratively with insurers and vendor partners to advance our shared goal of improved connectivity.
IBAC’s Technology Committee is a forum for the discussion and sharing of information among Member Associations and their respective Technology Committees and insurer and vendor stakeholders.
ibactech.ca provides resources and information for member brokers.
Together, brokers and Insurers can ensure that consumers are never disadvantaged by new technology. IBAC asks Insurers to work collaboratively with brokers and commit to the principles outlined below in developing on-line services for customers. In partnership, brokers and Insurers offer unequaled value, delivering the full capability of digital communication enriched by the unique benefits of broker advice, choice and advocacy.
Digital customer service delivered collaboratively by brokers and Insurers, in keeping with their respective responsibilities;
AI models with context on industry benchmarks and policy structures to interpret existing policy terms, endorsements, and clauses.
Integration with BMS to retrieve client profiles, exposure information, and historical policy data.
Data ingestion and continuous updates to ensure alignment with typical coverage patterns and industry guidance.
Data security and compliance features to protect client information.
Analyze client-submitted data, including exposures, business context, and other relevant information.
Extract and interpret existing policy terms (e.g., endorsements, exclusions, clauses).
Benchmark against typical coverage patterns and industry guidance to identify coverage gaps.
Prioritize identified coverage gaps and provide rationale based on considerations such as industry standards and risk.
Recommend relevant products and coverage options tailored to the client profile, and generate summaries for client discussions.
BMS Integration: Integration with BMS for secure data capture and storage.
Applied ARS Integration: Integration with Applied ARS to enable automated quote generation.
Dedicated Parsers for Renewal: Document parsing capability for 5–6 carrier renewal documents with high accuracy.
Extensibility Framework: Modular architecture to support future enhancements and additional automation.
AI Chatbot for Client Onboarding: Collect client information, answer onboarding questions, and guide users through the onboarding process.
Data Collection & Storage: Capture and store collected data directly in the broker’s BMS.
Document Processing: Enable clients to upload renewal documents and extract key data to accelerate the onboarding process.
Quotes Generation: Generate quotes based on collected information.
