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Special Issue on CIM-Data’s
Roll-out of its integration to Marshall & Swift / Boeckh’s Residential
Component Technology (RCT) Residential Valuator
December
2002
RCT Integration in Progress!
Compu-Quote has shipped us their first complete integration version of
the RCT product and we are now working full bore on providing CIM-Data
integration to RCT. It will be delivered in two stages: |
| A) |
RCT Pre-Release
By about December 17th (if not earlier), we will have an "RCT
Pre-Release" available on our web-site for all Release 3 and Release 4
customers. It is important that all Release 3 customers start working
with this install as soon as possible. Please go to www.cim-data.com,
Product Info then under Software: CIM-Data's Marshall/Swift RCT
Integration to download.
The first version of CIM-Data's RCT will be in GUI using VCIM. Once this
Pre-Release version is installed, you will be able to run the RCT
mock-up to become familiar with what CIM-Data's RCT looks like. You will
also have about two weeks to complete the conversions in order to use
the Operational Release.
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| B) |
RCT Operational Release
Once we have completed integration and successfully tested in the field,
we will post the final update to our website. The status of the RCT
Operational Release will first be posted to the website on December 17th
and then updated whenever changes occur. Please check the website for
status. Please do not call us for personal updates.
We are the first ones using Compu-Quote's RCT integration package. If
all goes well, it may be possible to download it and install by January
2nd, 2003. This is not a commitment! If issues arise beyond our control,
it could take considerably longer to complete the package. If any
unresolved problems persist by that date, we will publish the details on
the website. If your Pre-Release has been completed successfully, the
Operational Release can be downloaded, installed, and turned on in as
little as 15 minutes, without support assistance. |
| What the RCT Pre-Release will contain: |
| 1. |
A new Main Menu that will allow any user to start the RCT VCIM
Mock-up on their workstation. It can be used immediately after loading
the Pre-Release. This mock-up will confirm that each workstation is set
to at least 800x600 screen resolution (needed for VCIM). |
| 2. |
Release 4 PrntSetup. This is the heart of the new printing system
used in Release 4 and is required to print RCT Evaluations. Your System
Manager should complete the conversion before the end of December. It
will not affect Release 3 printing. It can take an average of one to
four hours to learn PrntSetup, complete the conversions, and test. A
print test feature will be included in VCIM. |
| 3. |
Release 4 zFiler. This is a faster, more complete database system
required for VCIM to connect to the database in the RCT Operational
Release. The change over to zFiler takes a few minutes to set up and a
few minutes to a half-hour (depending upon the size of your database and
speed of your server) to rebuild the index. For safety, it is
recommended this procedure be done after a backup. |
RCT for CIMMux Offices
Since VCIM will not operate over CIMMux in branch offices, we will make
RCT available in Runbpi but in Release 4 only. Remaining CIMMux
customers on Release 3 must upgrade to Release 4 in order to use RCT in
their branch offices. Please contact CIM-Data support to schedule
upgrades.
Support Help for the RCT Pre-Release
CIM-Data Support help for the RCT Pre-Release will be minimal. There are
too many brokers to help in too short a time frame. The Pre-Release will
come with detailed instructions, procedure sheets, and help files.
Please take the time to read these on your own. These instructions are
complete enough for most brokerages to finish the full install without
any assistance. However, if you get stuck, we do highly recommend that
you contact CIM-Data Support in case you need help learning the
concepts. Please tell reception that you are calling about the RCT
Pre-install. We will allocate no more than one person on these calls at
any one time. Answers and help will be returned on a first in, first
back basis. We will try to keep all calls to less than 15 minutes so
that everyone will have a chance for some assistance before the end of
December. We have hired an additional support person to help us through
the RCT distribution and Release 4 installs afterwards.
About CIM-Data's RCT Integration
The Compu-Quote version of RCT is a basic GUI interface that is easy to
use. We believe the VCIM format of RCT is faster and easier to use and
is more intuitive. It will also eventually be integrated into the VCIM
Policy Management System in Release 4. The data fields used between the
Compu-Quote version and the CIM-Data version are virtually identical.
What about Learning RCT?
RCT uses different evaluation concepts than the Boeckh does. The Boeckh
was originally developed by the Insurance Bureau of Canada and has been
the standard for many years. Brokers all know it well. RCT is new and
will take some time to become familiar to everyone. It looks like it
will take less time to complete than the Boeckh.
Compu-Quote and Marshall & Swift are aware that brokers may need
training. MS/B is currently looking at providing nation-wide training
seminars. We have also posted the Marshall & Swift RCT FAQ on our
website at www.cim-data.com, Product Info then under Software:
CIM-Data's Marshall & Swift RCT Integration.
(see side bar).
What about Company Acceptance?
Marshall Swift has terminated support for the Boeckh Calculator. As of
January 1st, many companies have stated that they will no longer support
Boeckh Evaluations unless Marshall & Swift extends support into 2003.
MS/B has said this cannot happen. Some brokers believe it is likely that
many companies might still continue to accept Boeckh Evaluations into
early 2003 while the transition completes rather than turn away new
business.
Compu-Quote Distributions
All Compu-Quote customers already have the option of rating with the
Boeckh or the first version of RCT. A revised version with an updated
calculation engine has been completed. This updated version is the one
already supplied to CIM-Data. This same version will also be released to
Compu-Quote customers during the third week of January.
What about Boeckh Data?
The information maintained by RCT is different than that maintained by
Boeckh. Once the Operational Install is completed, we will focus on a
conversion routine to convert as much existing Boeckh Data to RCT as
possible. The status of this routine will be posted on our website
commencing December 17th. Both the Existing Boeckh System and the new
RCT System will be available. You will retain full access to the
CIM-Data Boeckh system and data, even after the conversion.
The Price Increase
We have finalized pricing levels for licensing the CIM-Data version of
the RCT Product. These prices were worked out with Marshall & Swift and
Compu-Quote and are competitive. Brokerages with one user will have an
increase of $8.00 per month. Brokers with two to twenty users will have
an $18.00 per month increase. Brokers with over twenty users will have a
$22.00 per month increase. This is blanket pricing based on all CIM-Data
customers using RCT. The price increase will take effect as of January
1st, 2003.
Rumours: R.S. Means and I.B.A.O.
There are serious detractors from the RCT product out there. According
to an IBAO source, IBAO has brought in another American Evaluation
Product called "R.S. Means". IBAO requested 47 changes to the R.S. Means
product to 'Canadian-ize' it. The new product will apparently be
available to all brokers and companies on January 15th for $600 per
year. There is to be a meeting shortly in which about a dozen major
companies may decide to accept IBAO's version of R.S.Means. No contracts
or final commitments have been made so far by anyone involved.
The two major reasons cited for the Ontario brokers’ initiative: cost
and accuracy. In comparisons done by the IBAO on several dozen
evaluations, RCT apparently rates homes under $300,000 significantly
higher than the Boeckh and R.S. Means, particularly outside of Ontario.
Marshall Swift maintains that the RCT calculator was developed in
response to the real concerns of insurance companies and companies'
overall actual claims experience across Canada.
In defence of RCT, any discrepancies in valuations for insurance
purposes would eventually wash out once actuaries and marketing
departments realized they could restructure premium rates for
competitive advantage. We have lots of competition in the industry. It
is unlikely premiums will permanently increase by 15% to 35% just
because of the evaluation product.
However, once competing evaluation systems become available, it becomes
more difficult for companies to equalize their premium rates, unless
they add in evaluation method specific calculations. It also makes it
difficult for brokers who have to defend a higher valuation to a price
conscious consumer or a lower valuation to a consumer concerned about
proper coverage. Brokers should be asking their Broker Associations for
clarifications on the ramifications.
Another major factor is the CSIO Portal. The Portal requires an imbedded
evaluation calculator. It is more likely that the companies that want to
see the Portal succeed are looking for an evaluation product they can
control. This perhaps would be more available under an IBAO controlled
product.
In the absence of factual, reliable information to the contrary, RCT
remains the product of choice for us to integrate with. This may change
once IBAO and these companies involved issue some sort of formal
notification. Again, please do not call for personal updates. We will
issue statements again once we have facts available. |
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