Figures show that more non-life insurance companies that issue third-party liability insurance are now, more than ever, patronizing COCAS or the Certificate of Cover Authentication System.
It is primarily the system’s convenient mode of authentication, brought about by its user-friendly applications that run on Oracle platform, that drive these companies to access the system for vehicle registration.
There has been a total of 4,124,520 COCs authenticated from July 1, 2002 to Oct. 28 this year, 58 percent of which were authenticated through the Web and 42 percent via SMS (Short Messaging Service).
Moreover, just last July, authenticated fees were reduced from P5 to P4.50 for Web subscribers, and from P2.50 to P2 for SMS users.
COCAS is one of the many reforms under Commissioner Eduardo Malinis’ term. It is a computerized application system accessible via the Internet or SMS and aimed at eradicating fly-by-night insurance companies that mislead vehicle owners with the issuance of fake COCs.
Smoothly running for a year and a quarter now, COCAS has made it a lot easier for insurance companies to perform the authentication process.
At the same time, it has professionalized the trade, and best of all, has given the public and the members of Insurance and Surety Association of the Philippines (ISAP), including a few non-member companies, the much-needed confidence that they deserve.
COCAS was developed and is being maintained by SQL*Wizard Inc., the creator of the Phoenix General Insurance System and which provides excellent Oracle service and support.
SQL*Wizard can be reached at info@sqlwizard.com or at 889-6999. Or check its website at www.sqlwizard.com.