August, 2016, was the soft launch with September, 2017, being the full rollout of ICBC’s new Insurance Sales System, PolicyCentre. They have completely revamped the way we, Insurance Brokers, deliver their automobile products to the consumer.
Although the rollout did result in some processing delays at the onset, processing times were quickly back to normal.
Initiating a transaction now requires a customer’s birthdate and other personal information. Once a full year of renewal cycle is complete, agents will be able to see a client’s entire portfolio of vehicles and coverages to more accurately assess a customer’s needs.
Vehicle registrations, transfer of vehicle ownership, and renewal transactions have been streamlined in processing but requirements remain the same for all.
Coverages and offerings remain the same at this time, however, this new system offers the flexibility to change or enhance products and procedures in the future.
Many special coverages which were once processed manually are now offered within the system (with more being added within ICBC’s next upgrade March 26, 2017).
The Excess Underinsured Motorist Protection coverage had changed to become a household specific policy at the onset of PolicyCentre, however, processing issues meant it could not be included in a customer’s monthly payment plan. ICBC has rectified this with the most recent upgrade and the coverage has now been renamed Extension Underinsured Motorist Protection Policy. It is no longer a stand- alone policy. It is now an additional coverage available per vehicle with four options to extend the $1 million Underinsured Motorist Protection (UMP) provided under their Basic coverage. Customers can purchase total UMP amounts of $2 million, $3 million, $4 million or $5 million.
Changes are on the way for the Claim-rated scale (ICBC’s discount model). Going forward, drivers who cause multiple at-fault crashes will lose their safe driving discounts faster than they do today. Right now, it is possible for some drivers who have high level RoadStar status to cause two, or even three, crashes and have the same discount on basic insurance as a driver who has never caused a crash. Under the new system, long-term safe drivers will continue to have their discount protected if they’re at-fault for one crash, but that will not be the case if they have multiple at-fault crashes.
It is unsure the financial repercussions this will have, but it is the first of many changes that ICBC has been looking into to make sure those that do not have claims are rewarded.
ICBC has worked with the provincial government and BC Parks to develop specialty BC Parks license plates. All proceeds from fees associated with issuance of these plates will be reinvested into provincial parks.
The new BC Parks license plates are the first new plate designs since the very popular Vancouver 2010 Olympic plates. A Veterans plate has long been available and a Memorial Cross recipient plate was also introduced in November 2016 for eligible customers.
A number of U.S. states have specialty plates in support of state parks. In Canada, Manitoba, Ontario and PEI have conservation or wildlife-themed plates and ICBC is proud to join in with the introduction of three new designs; the Purcell Mountains, Porteau Cove and the Kermode Bear. The BC Parks plates are the first of what ICBC hopes to be a series of specialty license plates to come in the future.
“MacDonald-Gill Insurance, where we take care of policies, but more importantly, people.”