New admin system for brokers allows for paperless policies, mobile updates

Insurance wholesaler Affiliated Brokers Exchange Ltd. (ABEX) has teamed up with Insurance Technology Solutions Inc. to offer a new policy administration system that allows for paperless policy issuance, among other capabilities.

The system allows brokers to provide “real-time quotes in minutes,” for both personal and commercial lines clients, according to ABEX, a Waterloo, Ont.-based MGA that provides niche products and insurance offerings to brokers across Canada.

Brokers can also use the system on mobile devices, including the iPad, iPhone, Android smartphones and tablets, and Windows smartphones and tablets.

The system uses a “secure web portal” for brokers to make coverage changes, update policy information, and fill out new applications for coverage, according to ABEX.

The platform, dubbed ABEXAccess, uses the BindEasy Solution from Insurance Technology Solutions (ITS), a software-as-a-service (SaaS) offering aimed at the independent broker distribution channel in Canada.

The system will have a limited release in the coming weeks, and a broader release this fall, according to ITS.