Celent Model Insurer 2021
Model Insurer


Celent Model Insurer is awarded for best practices of technology usage in different areas critical to success in insurance, and is the main award that an insurance carrier can receive from Celent. It is an annual program, celebrating its 15th anniversary in 2021.

We announced our 2020 Model Insurer Winners at Innovation & Insight Day in April 2020.

For 2021, we will be accepting nominations in five categories: Data, Analytics and AIDigital and Emerging TechnologiesInnovation ExecutionCustomer Experience Transformation, and Legacy and Ecosystem Transformation.


Data, Analytics and AI

Data is now a key source of competitive advantage for identifying profitable niches, managing risk, and improving service. External data sources, data derived from devices, and new techniques for interpreting data are pushing the competitive boundaries for insurers at an accelerated rate. This theme recognizes projects such as:

  • Predictive analytics (claims fraud, underwriting, pricing, climate analysis)
  • Prescriptive analytics (triage, sales automation, “next best action”)
  • Virtualization (dashboards and heat maps, catastrophe management, network analysis, geopolitical risk analysis)
  • Innovative functionality enhancements for consumer digital platforms (e.g. mobile apps, online)
  • Artificial intelligence techniques used to achieve the next level of benefits (in underwriting, claims processing, fraud identification, propensity modeling)

Digital and Emerging Technologies

Digital transformation is moving from person-to-person interaction toward person-to-machine or machine-to-machine. Integrating and coordinating among disparate and siloed delivery channels will be critical to satisfying ever-increasing customer expectations. Using the definition that digital automates complex tasks, allowing them to be mastered, then reproduced and distributed at no cost, this theme recognizes projects such as:

  • Online customer portals
  • The industrialization of processes
  • Development of engaging user interfaces
  • Online sales with STP
  • Integration with business partners
  • The leveraging of social networks
  • The use of mobile technology

Innovation Execution

Celent defines innovation as fundamental changes to products, services, or business models that break existing tradeoffs and provide value to the customer. New hardware, software, and network technologies feed insurance innovation. This theme focuses on how insurers implement innovation and recognizes projects such as:

  • Innovation labs implementation
  • Programs aiming at innovation idea generation and prioritization
  • Partnerships or investment in innovation accelerators or incubators
  • Development of an innovation culture within an IT organization
  • Change management program to foster innovation

Customer Experience Transformation

Transforming the customer experience is increasingly important to insurers who are looking to differentiate themselves and drive sustainable growth. This category looks at the work insurers are doing to improve the experience for prospects, policyholders, distributors, vendors and other constituents. This theme recognizes initiatives such as:

  • Simplification of the new business application process – e,g. data prefill, new UI, computer vision etc.
  • Implementation of new technologies to improve the customer experience – e.g. video communication, augmented reality for claims natural language processing, etc.
  • Implementation of new tools or services to provide new capabilities for customers e.g. connected home solutions, advice engines, social pay, etc.
  • Other initiatives that transform the customer experience.

Legacy and Ecosystem Transformation

Legacy technology can hinder innovation, since insurers must typically offer backward compatibility. Insurers must not only modernize, but also transform their internal systems and how they interact with customers, counterparties, and regulators. This theme recognizes projects related to core system replacement or transformation including:

  • Policy administration
  • Document management
  • Customer relationship management
  • New business
  • Illustrations
  • Billing
  • Claims
  • Rating/underwriting

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