The Insurance Brokers Association of Ontario (IBAO) has released a statement praising the provincial government’s decision to make digital proofs of insurance standard across the region.
The push for digital proofs was noted in Ontario’s 2017 Budget. Previously, auto insurers operating in Ontario would have to issue a paper slip for consumers to carry as their proof of coverage. With the budget calling for a digital form of this proof, consumers can instead use their smartphones to produce a copy instead of having to carry a physical slip around.
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“Paperless proof of insurance will improve the digital insurance experience for Ontarians,” IBAO CEO Colin Simpson said in a statement. “The process will become much easier for consumers by not having to replace pink slips every time their auto policy is renewed. Consumers will be able to access proof of insurance through insurance broker mobile apps.”
“This is a step in the right direction to improve auto insurance in this province,” commented IBAO president Traci Boland. “Workflow efficiency is what we need in this industry. Cost savings on printing and mailing insurance documents will positively impact consumers through mandated discounts for digital proof of insurance.”
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“Although the industry has made great strides in technological progress, the advent of electronic proof of insurance is just the beginning of a new push for consumer efficiency and savings,” Simpson added. “The government’s consideration of long-term changes to the insurance system will allow for greater competition and innovation in auto insurance, and respond to changing market conditions and consumer needs.”
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