Investment Executive | CLIEDIS reports progress on eData
Major insurers implementing recommendations on pending insurance policies
The life insurance industry has made considerable progress in its efforts to standardize electronic communication, and the benefits of this initiative are becoming increasingly clear, but there is still plenty of work to do in this area, industry players said on Thursday.
At Toronto-based Canadian Life Insurance Standards Association’s (CLIEDIS) annual seminar in Mississauga, Ont., Tana Sabatino, eData project manager at CLIEDIS, gave an update on the organization’s project to standardize electronic communication in the life insurance industry.
“We’re definitely seeing a lot of progress happening in the industry,” Sabatino said.
A major area of focus within the eData initiative has been pending business in the insurance industry, and specifically, ensuring efficient communication between insurers, managing general agencies (MGAs) and advisors, on activity and status updates concerning pending insurance policies.