Custom Software Solutions Inc. (CSSI) has extended its existing Intelliquote module within TBW to develop its I-Biz solution. This solution electronically exchanges edited and underwritten application risk data from the broker to the carrier insurance company to allow policy issuance and policy change processing with exception-only underwriting intervention from a Single Entry Multiple Company Interface (SEMCI). The processed policy data then flows back to the broker’s office and automatically updates the broker’s policy/client management, accounting and billing systems.

A broker utilizing the I-Biz feature with a participating company for renewals, endorsements, cancellations and re-instatements will gain the following benefits:

• Significant reduction in turnaround on all electronic transactions
• Decreased processing errors as data is validated in the broker’s office
• Electronic access to clients underwriting and policy information
• Reduced paper/postage
• Change premium is calculated for the broker and client at the point of sale

I-Biz is a feature that allows both the Broker and the Company to become more efficient and competitive in the industry and will ultimately provide for enhanced top line revenue and bottom line net income growth.

CANARIE Inc. provided funding totaling $1.175 million to enable Custom Software Solutions Inc. to develop, test, and commercialize a business to business electronic data exchange package of process automation tools designed to vastly improve the economic performance of insurance companies and brokers across the country. To date, the I-Biz features of The Broker’s Workstation have been commercially released for habitational lines to Wawanesa brokers in Manitoba, Saskatchewan, British Columbia, New Brunswick, Nova Scotia and Prince Edward Island, and the release of the I-Biz functions to Wawanesa brokers for private auto insurance is planned for late 2004.

CANARIE Inc. is Canada’s advanced Internet organization, a not-for-profit corporation that facilitates the development and use of next-generation research networks and the applications and services that run on them. By promoting collaboration among key sectors and by partnering with similar initiatives around the world, CANARIE stimulates innovation and growth and helps to deliver social, cultural, and economic benefits to all Canadians. CANARIE positions Canada as the global leader in advanced networking, and is supported by its members, project partners, and the Government of Canada.