CSIO backs Alberta’s authorization of electronic auto insurance proofs

CSIO | August 14, 2019

CSIO backs Alberta’s authorization of electronic auto insurance proofs
The Centre for Study of Insurance Operations (CSIO) has responded to the Alberta Superintendent of Insurance’s decision to approve the use of electronic proof of automobile insurance (EPAI) – also known as eSlips – praising the decision. With the approval coming into effect August 12, Alberta drivers can now present their proofs of insurance via smartphone. In addition to the CSIO, the Insurance Bureau of Canada also applauded Alberta’s decision. CSIO had co-developed an eSlips solution, called “My Proof of Insurance,” together with brokers and insurers. With Alberta giving the green light to EPAI, CSIO hopes more governments follow suit to better serve consumers. “We applaud the Alberta government’s decision to approve the use of eSlips,” said CSIO president and CEO Catherine Smola.

Spotlight

Today’s insurance industry is ripe for disruption. In fact, experts predict that the industry will experience more transformation in the next five years than it has in the past 50.This dramatic shift is driven by several factors:  Today’s customers expect the same capabilities and experiences they have when interacting with retailers, entertainment providers, the travel industry, and retail banks. They want to receive service anytime, anywhere, through any channel, on any device they choose. The new trend toward digitization is unleashing the power to transform insurance with easier, more cost-effective, and socially acceptable processes. This is made possible by the proliferation of mobile devices, which have become the new basis for business for the millennial generation and others. Non-traditional players are entering the insurance market, challenging the status quo and bringing innovation to an industry that has been historically slow to evolve.

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Spotlight

Today’s insurance industry is ripe for disruption. In fact, experts predict that the industry will experience more transformation in the next five years than it has in the past 50.This dramatic shift is driven by several factors:  Today’s customers expect the same capabilities and experiences they have when interacting with retailers, entertainment providers, the travel industry, and retail banks. They want to receive service anytime, anywhere, through any channel, on any device they choose. The new trend toward digitization is unleashing the power to transform insurance with easier, more cost-effective, and socially acceptable processes. This is made possible by the proliferation of mobile devices, which have become the new basis for business for the millennial generation and others. Non-traditional players are entering the insurance market, challenging the status quo and bringing innovation to an industry that has been historically slow to evolve.