Third Annual Celent Model Insurer Asia Awards: Nomination Form
Deadline for Nominations: December 14, 2012
Through our Model Insurer Asia Awards Program, Celent recognizes the top technology initiatives in the Asia Pacific region. Past winners include Calliden Group (Australia), PICC Health (China), IndiaFirst Life Insurance (India), Nextia Life Insurance (Japan), Prudential Life Insurance Company of Korea, Baoviet Holdings (Vietnam), PT Prudential Life Assurance (Indonesia), Union Assurance (Sri Lanka), 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?"
Increasing consumerism, stakeholder demands to perform, ongoing regulatory rulings, and regional expansion drive insurers to implementation of new systems and processes to meet these complex challenges. In many cases these challenges are applicable globally, in others they have a distinct regional flavor.
On the back of the global Model Insurer research by our colleagues in North America and Europe, we at Celent Asia are conducting an Asia Pacific specific program to identify the potentially unique "model insurer" solutions that have recently been deployed in our region.
The terms “everything” and “right” will very different things to different insurance carriers depending on the company size, the complexity of the operation and product sets, and the technological starting points. The approach that Celent has taken therefore is to research, 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 Asia” 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.
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.
Nomination Process
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 with the insurer, not the vendor.
Guidelines for Celent Model Insurer Asia Awards
This information will assist you in completing a nomination form for a Celent Model Insurer Asia award. Below are generalized criteria that are considered by Celent when evaluating submissions.
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 insurer has been involved in the submission
- The nominated initiative is live and functioning
- Quantitative success metrics are measured and provided
- The initiative must have been implemented in the Asia Pacific region, and should not have been submitted for another Celent 2013 Award, e.g., Model Insurer
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 Asia Awards are accepted year-round. We will accept nominations for 2013 beginning February 8, 2012. The deadline for nominations is December 14, 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.