First broker management systems award winners announced

Published: March 25, 2018

Updated: July 24, 2018

Author: Luke Jones

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Broker management systems (BMS) are in the spotlight with the first annual Broker Insurance Tech Awards, a joint effort between nationwide broker associations, CSIO, and Aviva Canada.

Wanting to show the valuable work brokers systems do, associations including IBAA, IBAC, IBAM, IBANS, and IBAO teamed with Aviva Canada and CSIO for the awards ceremony.

“In order to truly digitize the broker channel at large, we need brokers and their BMSs to get into the digital game,” said Tom Reid, executive director, digital broker strategy at Aviva Canada. “However, upon looking into the channel through my role with Aviva Canada, I came to realize brokers at large don’t have a great collective sense of what BMSs can do.

“BMS vendors have made significant headway over the past few years, and, in some cases, brokers haven’t been able to take advantage of, or even understand, some of those developments. Together with the broker associations and CSIO, we felt it was important to raise awareness of BMS capabilities and give some exposure to some of the new entrants into the market.”

Among the BMS suppliers evaluated were Tech Canary, Applied Systems, Brokercore Inc, and Power Broker. Customer Software Solutions Inc decided not to be evaluated, but did provide a presentation. The assessor’s scored the suppliers out of 100 and looked into 12 core broker management system areas:

    Technical capabilities

    Sales, marketing and customer relationship management

    Client self-serve capabilities

    Billing and accounting

    Integration capabilities

    Reporting, analytics and business intelligence

    Artificial intelligence

    Maintenance support

    Development support

    Conversion from existing BMS

    Roadmap development transparency

    Best presentation

Tech Canary came away with gold, scoring highest in five out of the 12 areas, followed by Keal Technology with four highest scores.