Custom Software’s goal is to successfully deliver a national industry-wide solution to fully integrate and automate the most expensive and time-consuming business processes involved in the insurance industry. Our plan will enable the successful development, delivery and commercialization of a cost effective business to business electronic data exchange (I-Biz) solution that will improve the economic performance of the insurance industry and accelerate the use of e-Business in Canada. I-Biz is a lightweight peer to peer hierarchical data set delivered via the Internet. I-Biz significantly reduces the high cost of entry associated with centralized transaction processing by traditional EDI systems.

To date, a state of the art EDI system that is capable of addressing all insurance policy transactions does not exist, due to the structural barriers presented by competitive rivalries, multiple and incompatible software systems and a lack of industry standardization.

The plan is unique and innovative in concept, design, and application in that it will develop a package of process automation tools that will satisfy the mission critical business process needs of insurance brokers and companies needing to write or revise policies. Unlike alternative approaches, Custom Software’s product called “The Broker’s Workstation” will offer true end-to-end automation of the insurance policy writing or policy change request functions, processes that include determining replacement costs, identifying past claims, determining rate classifying, quoting multiple company rates and completing a policy application. It will ensure that brokers have access to current and accurate rating and underwriting guidelines of insurance carriers. Other approaches that have attempted a top down solution have not met client needs. ”The Broker’s Workstation” solution has been designed as a management tool for the end user broker with I-Biz ability designed and integrated in all processes. The I-Biz tools are Internet enabled which makes the solution attractive and affordable to all businesses.