MPI Moving Forward under Strong Governance & Board Oversight

MPI has released the following statement on behalf of Ward Keith, Chair, Board of Directors:

“While MPI manages through significant change, the Corporation is staying focused on its mission and mandate – while centering its attention on three business objectives that will help MPI deliver value for all Manitobans:

  1. Meeting financial obligations – continual focus on fiscal prudence and responsible financial management to maintain and control costs, which ultimately drives lower vehicle insurance rates for Manitobans.
  2. Delivering Project Nova – replacing outdated and unsupported legacy technology platforms to ensure Manitoba’s public insurance system is safe, reliable, and secure for generations to come, while creating opportunities to introduce new online options.
  3. Improving service delivery – continually improving how MPI serves its customers will always be a key priority. Focusing on frontline service availability and delivery so that people across the province have access to affordable products and services that meet their needs.

Against this framework, I am pleased to report that the Corporation is preparing to file its application to the Public Utilities Board for Basic insurance rates for the 2024/25 insurance year. While the Corporation will file for a zero per cent overall change to Basic insurance rates for 2024/25 in line with government direction, the actuarial indicated rate change is virtually flat as well. This is possible because MPI is in a good financial shape with reserves for unanticipated claims costs now at legislated targets. This year’s General Rate Application will also include further enhancements to the Driver Safety Rating scale, offering larger vehicle premium discounts for the safest drivers.

I am also pleased to report that Project Nova is continuing on schedule and within budget to replace outdated and unsupported legacy technology systems. While the implementation to date has not been without issue, I am optimistic that the right budget and resources are being put in place to deliver on the remainder of the project. That said, greater oversight from the Board is required to ensure that Nova stays on track. MPI undertook a formal Request for Proposals process and is close to selecting a new Governance and Advisory Services vendor to provide external oversight to Project Nova for the remaining two years of the project. This vendor will play a critical role in my expectation and commitment that Project Nova will be managed diligently, responsibly and with the right levels of transparency. A broader update will be provided to the Public Utilities Board in October.

MPI is also in the final stages of selecting a vendor to conduct the external organizational review ordered by government in April. I expect this external review will provide the Board with important advice and recommendations on Project Nova, in addition to examining other aspects of the Corporation’s organizational structure, operations, and financial and actuarial practices.

Together, MPI’s Board of Directors, executive leadership team and employees are taking time to reset and put tighter oversight processes and governance structures in place, which will help to ensure MPI is positioned to continue providing value for Manitobans.”

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