Celent Presents Model Insurer Awards to 15 Carriers
Staff Writer | March 26, 2015
Celent announces its Model Insurer Award winners for 2015 at its annual Innovation & Insight Day at Carnegie Hall. The awards, now in its ninth year, celebrated 15 examples of effective technology usage in insurance.
The vision for Celent's Model Insurer Awards is to spotlight best practices in the use of technology in insurance in areas such as policy administration, IT management, claims, and distribution. Nominations were accepted throughout the fall of 2014, and the Celent insurance team selected the winners based on the best practices used and business benefits provided.
LV= was honored as the overall Model Insurer of the Year, with 14 other insurers being recognized as Model Insurers in five categories, some with an overall category winner.
2015 Model Insurer winners:
- Data Mastery & Analytics: Celina Insurance Group, Farm Bureau Financial Services, Markerstudy Limited (category winner)
- Digital & Omnichannel: ICICI Prudential Life Insurance Co. Ltd, Security First Insurance Company (category winner), Società Cattolica di Assicurazioni
- Innovation and Emerging Technology: Achmea Australia, American Family Insurance, Citizens Property Insurance Corporation (category winner)
- Legacy & Ecosystem Transformation: Pennsylvania and Indiana Lumbermens Mutual Insurance Company (category winner), MetLife, Virginia Farm Bureau Mutual Insurance
- Operational Excellence in IT Management: Hiscox Ltd.
- Operational Excellence in Non-Core System Implementation: Aegon Netherlands
"Celent evaluated insurance technology initiatives according to five major themes being seen and researched today," says Karen Monks, an analyst with Celent's Insurance practice. "Insurers are investing in technology that meets their digital agendas, expands their use of data, and modernizes their back office. Additionally, Celent sees several insurers embracing innovation and forsaking established practices to pursue new ideas."
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