Today we are announcing the winners of Celent’s Model Insurer Program. This program was launched 15 years ago and recognizes the effective use of technology in different areas critical to success in insurance.
It's not news that, these last years, insurers were executing on their challenging digital agendas, but since the pandemic they had to accelerate its execution. As insurers move into digital innovation other areas come into play, such as customer experience, the use of data and AI, and the transformation of legacy systems and ecosystems. All-in, making innovation happen requires combining ruthless execution, bold adoption of emerging insurance models and mastering the enabling technologies. Model insurer winners are good examples of how this is done.
The program in 2021 was again incredibly competitive, with 67 insurers from 24 countries that submitted a total of 99 nominations. Such a high number of submissions of extraordinary quality across the board is another testament to the hard work going on in the industry, as companies continue to transform and innovate.
We are delighted to announce AXA XL as Celent Model Insurer of the Year 2021 in recognition of their project titled "AXA XL Construction Ecosystem".
We are also pleased to recognize the following 17 insurers and their initiatives with Model Insurer 2021 awards:
Model Insurer 2021: Data, Analytics and AI
Model Insurer 2021: Legacy and Ecosystem Transformation
Model Insurer 2021: Digital and Emerging Technologies
- AIA International Limited
- Azur Group
- Bajaj Allianz General Insurance Company Ltd.
- General de Salud Compañía de Seguros S.A.
Model Insurer 2021: Innovation Execution
Model Insurer 2021: Customer Experience Transformation
Each winning initiative is described in a case study report available to Celent research clients.
CONGRATULATIONS TO ALL CELENT MODEL INSURER 2021 AWARD WINNERS!
