“The exchange of relevant data is currently handled in a very complex way. All parties involved will benefit from a standardized, secure way of communication”, said Elisabeth Stiller, deputy head of GDV’s sales and distribution department, at an industry event on Monday, 15 June 2015, in Cologne.
Standards set by TGIC and BiPRO
The GDV-launched project for enhancement of the digital communication between insurance companies and brokers aims at establishing the relevant data exchange on a machine-to-machine basis. The secure technical infrastructure TGIC stands for the authentication process of all participants. Data exchanged will be standardized based on BiPRO norms (norms established by the Institute for Process Optimization ) which have been developed jointly by insurance companies, intermediaries, associations, service providers, and other market participants.
Brokers expect significant simplification of processes
The professional data exchange is executed on a bilateral basis via the internet. Client-related data will neither be transmitted nor saved in the TGIC. “For brokers like us a secure data transmission/exchange with the insurance companies via a standardized interface is of a big advantage,” said Holger Mardfeldt, partner with the holding of Martens and Prahl insurance brokers. “Clients have different contracts with different insurance companies. This goes in line with complex administrative processes which will be significantly reduced by the implementation of the project initiated by the GDV. We look forward to working with these new technical standards.”
The project to improve communication processes between insurance brokers and insurance companies is currently in a pilot phase and will be rolled out in 2016.