Countdown to Celent's Model Insurer Awards: Announcing the Finalists
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27 February 2014Karen Monks
In our eighth year of the Celent Model Insurer awards we decided to change the program a bit once we received all our submissions. With a near record 74 submissions, it became evident that we could categorize the submissions into the research themes that we at Celent have been hearing are important to our clients and insurers all over the globe. In a webinar yesterday, Jamie Macgregor and I described the changes to our program. The biggest change is the move from the components of the insurance lifecycle processes like claims, billing, and underwriting to five major themes: digital and omni-channel, innovation and emerging technologies, legacy and ecosystem transformation, data mastery and analytics, and implementation best practices. Our review methodology did not change. We continue to look for best practices in the development and implementation of technology. We consider things like the use of industry data standards, the optimization of infrastructure, the impact on channels, and the use of metrics, to name a few best practices. We also heavily consider measurable business results like increase in market share, productivity improvements, or operational or IT savings. We review each and every submission against a detailed rubric. After our review of the 74 nominations, Celent identified 14 finalists for four of the five categories named above for our 2014 Model Insurer award program. The finalists named yesterday recognize insurers that demonstrate effective use of technology and industry best practices in each theme category. The awards for the top Model Insurer in each category will be announced at our 2014 Innovation & Insight Day in April. During I&I day, we will also name an IT Management Model Insurer and Celent's overall Model Insurer of the Year. The finalists in four of the five categories include: Digital Allied Insurance John Hancock Unigarant Analytics Bankers Insurance Group Inter Hannover RSA Insurance Group plc Legacy Transformation Aegon UK Foresters ICW Group Saxon Insurance Implementation Best Practices 1st Central CNA Millers Mutual Group MetLife Congratulations to all the finalists! Come to NYC on April 3, 2014 to hear about each of their projects and to learn who bubbled to the top as Celent's Model Insurer of Year. Event information can be found here: https://www.regonline.com/builder/site/Default.aspx?EventID=1285653
Industry or Business Focus
Asia-Pacific, EMEA, LATAM, North America