Seventh Annual Celent Model Insurer Awards: Self-Nomination Form

Deadline for Nominations: November 30, 2012

Through our Model Insurer Awards Program, Celent recognizes the year’s top technology initiatives. Past winners include Allstate Financial, Chubb, Nationwide Insurance, Tokio Marine & Nichido Fire, and Allianz Life, to name a few.  Does your company have what it takes?

Celent's Model Insurer research is designed to try to answer an apparently simple question: "What would it look like for an insurer to do everything right with today's technology?"

Obviously, the question is not nearly as simple as it appears. The terms “everything” and “right” will mean very different things to different insurance companies depending on their size, the complexity of their operations and product sets, and their technological starting points. The approach that Celent has taken therefore is to offer, at a high level, some key best practices in the use of technology across the product and policyholder life cycle and in IT infrastructure and management that a “model insurer” would use.

Of course, there is no such thing as a “model insurer” — every insurer does some things well, and others not as well when it comes to technology. Therefore, Celent is gathering leading real world examples of the effective usage of technology. These case studies are presented annually as “Model Insurer Components” — components of a theoretical model insurer’s IT systems and practices.

An important note is that a model insurer component is recognition of an insurer’s effective use of technology in a certain area, not necessarily a statement that the insurer is absolutely best in class (although some may be). Model insurer components are those that help insurers improve performance and meet market demands. In general, they represent the way things should be done.

To nominate an initiative at your company as a model insurer component, please use the following brief form below. Please note that vendors are welcome to assist their client insurers with their nominations, however vendors/suppliers are not qualified to receive an award. All nominations MUST include insurer contact information, and all follow-up will be done primarily with the insurer, not the vendor.

Guidelines for Celent Model Insurer Award Submissions

This information will assist you in completing a nomination form for a Celent Model Insurer award.  Below are generalized criteria that are considered by Celent when evaluating submissions.

General submission and award criteria:

• The initiative has been implemented at an insurance company, a company that takes on risks under the policies it sells in return for the payment of premiums.
• The nominated initiative is LIVE (in production) and functioning at the insurance company.
• The nominated insurer has been involved in the submission and is willing to be actively involved in the post submission evaluation process which includes follow up emails and interviews, and possible inclusion in the Celent Model Insurer report.
• Quantitative success metrics are measured and provided.
• Quantifiable results from a pilot program are acceptable however it must be noted that the results are from a pilot.   Full production results are preferred.
• The initiative has not been submitted for another Celent 2013 Award, e.g., Model Insurer Asia.

Quality of Nomination

The importance of the quality of the nomination itself, and of the supporting information, cannot be overemphasized. The nomination should be as specific, accurate, and complete as possible. It is imperative that the true merits of the initiative be conveyed through this information. Keep in mind that in most cases those involved in the selection process will have no personal knowledge of the nominated initiative and will lean heavily on the information provided below for the information they need to make reasonable judgments.  In some cases, Celent will check publicly available information to augment or substantiate the information provided.

Nominations for Celent Model Insurer Awards are accepted year-round. We will accept nominations for 2013 beginning February 2, 2012. The deadline for nominations is November 30, 2012.

Once submitted, all communication will occur between Celent and the insurer, however Celent will acknowledge the receipt of the submission with both the insurer and, if applicable, the vendor partner.