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Author: Ibactech

Information in the event of a data breach

No business owner would want to experience a data breach that exposes customer data, or suffer the reputational harm that would bring. Protecting client data and the IT Systems your business depends on should be a top of mind priority for every business. Canada’s data privacy and data protection laws continue to evolve, with mandatory […]

DISASTER PLANNING RESOURCES

YOU NEED A PLAN. Disasters, whether natural or otherwise can hit any time and without notice. The best line of defense is offense—prepare your employees, physical office, data, systems and clients with procedures to implement when disaster strikes. Be prepared to serve without power, phone, Internet and even without a physical office location. Agency principals […]

Agency Universe Study 2020 – ACT Technology Results Summary

Future One is a cooperative effort of the Independent Insurance Agents & Brokers of America (IIABA) and independent agency companies. It sponsors a variety of programs to enhance the independent agency system and agency-carrier relationships, both legislatively and in the business environment. One of Future One’s major efforts has been the Agency Universe Study (AUS), […]

Organic SEO Is Evolving—and So Should Your Strategy

  Organic SEO Is Evolving—and So Should Your Strategy In March 2025, SEO software giant Ahrefs analyzed over 300,000 keywords. They uncovered a troubling trend—when Google’s AI Overviews appear in search results, the click-through rate (CTR) for the top organic result drops by a staggering 34.5%. That’s not a slight dip. It’s a shift in […]

Case Study: ANGUS-MILLER LTD.

5ngusfMiller Ltd1 is a full service MG5 with product offerings including Personal Linsey Commercial Property Commercial liability Commercial 5utoy Professional Liability Surety TIC Travel Insurance Boiler and Machinery as well as unique HolefinfOne insurance1   Download The PDF version

Insurance Brokers Association of Canada VENDOR JOINT MARKETING APPLIED SYSTEMS

January 2023 In Canada, the Property & Casualty (P&C) insurance industry lags other industries on connectivity within the broker channel. As a result, brokers struggle with process friction and duplication of effort (double entry), resulting in unnecessary expense and a less than ideal client experience. Brokers use their own systems to manage their clients and […]

Insurance Brokers Association of Canada VENDOR JOINT MARKETING DELTEK

January 2023 In Canada, the Property & Casualty (P&C) insurance industry lags other industries on connectivity within the broker channel. As a result, brokers struggle with process friction and duplication of effort (double entry), resulting in unnecessary expense and a less than ideal client experience. Brokers use their own systems to manage their clients and […]

Insurance Brokers Association of Canada IBAC DXCA API BENEFITS WHITEPAPER

January 2023 Executive Summary The broker channel of the P & C insurance industry lags other sectors on connectivity. As a result, the channel struggles with process friction & duplication of effort (double entry), resulting in unnecessary expense and a sub-optimal client experience. IBAC aims to encourage connectivity investment by carriers & broker vendors, as […]

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Aligning with Regulatory Frameworks and Standards

Principles will align with international AI guidelines (e.g., ISO 42001, OECD frameworks) and industry-specific regulations (e.g., RIBO, OSFI, AMF) upheld by stakeholders. Adherence to legal standards will help organizations navigate jurisdictional requirements, promote sustainable practices, and prevent misuse of AI data

Encouraging Responsible Al Innovation

Principles will encourage the broker community to innovate responsibly by developing AI systems that prioritize consumer well-being, inclusivity, and fairness, while also assessing the societal, environmental, and economic impacts of their AI solutions

Promoting Accountability in AI Oversight

AI principles will reinforce accountability across all levels of organizations and third-party collaborators. By defining roles, ensure human oversight in AI processes, this enhances traceability, enables informed decision-making, and embeds mechanisms for ethical redress when errors or adverse outcomes occur

Ensuring Consumer Trust and Fairness

AI governance principles support commitment to transparency, fairness, and accountability. By requiring explainable outcomes and proactive consumer communication, it fosters trust among the broader broker community, their clients, and external stakeholders

Supporting Ethical Standards and Stakeholder Collaboration

By incorporating AI governance principles, broker members can align with its mission of fostering an ethical culture among its stakeholders Address biases, safeguard consumer protection, and promote inclusivity, which will reinforce commitment to ethical AI practices in collaboration with industry stakeholders, regulators, and third-party solution providers

PoC Use Case Overview: Al-Assisted Coverage Discovery & Gap Analysis

Technical Requirements

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.

Functional Scope

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.

AI-Powered Client Onboarding & Data Intake – Overview:
Proof of Concept (PoC) Use Case

Technical Requirements

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.

Functional Scope

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.