IBM Canada and the General Insurance Statistical Agency team to deliver data modernization for 140+ Canadian insurers
Toronto ON, January 26, 2023 — IBM (NYSE: IBM) and the General Insurance Statistical Agency (GISA) have announced IBM Canada will assume Statistical Service Provider (SSP) responsibilities for modernizing GISA’s service delivery infrastructure. With this agreement, IBM Canada will help enhance data analytics services for insurers and regulators in the Canadian property and casualty insurance industry.
“I’m happy to share that the General Insurance Statistical Agency (GISA) has selected IBM Canada as its technology solution partner to modernize our data platform and operate as our Statistical Service Provider,” said Laurie Balfour, GISA Chair. “This announcement marks the beginning of a strategic relationship that will deliver great value to insurers and rate regulators by improving statistical data quality and reliability, while enabling operational efficiency and effectiveness for GISA.”
As the statistical agent for the insurance industry and regulators, GISA provides statutory and regulatory reporting for the property and casualty insurance industry through its SSP. IBM Canada will assume operations of statistical plans for deeper data analysis and reliability, as well as greater operational efficiency, adaptability to regulator priorities and engagement with insurers and regulators. The new agreement will include coverage for nine regulatory jurisdictions and more than 140 insurance organizations across Canada.
“Accuracy and reliability are critical for accessing and analyzing data, but so is efficiency and speed,” said Daniel Shum, senior partner and insurance practice leader with IBM Canada. “These elements will be central to our approach as we work with GISA to transform their data capabilities and delivery of statistical services to meet the evolving needs of their industry stakeholders.”
For more information about IBM Canada, visit: www.ibm.com/ca-en
For more information about GISA, visit: www.GISA.ca