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  5. Celent Model Insurer 2015: Case Studies of Effective Technology Use in Insurance

Celent Model Insurer 2015: Case Studies of Effective Technology Use in Insurance

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24 March 2015
Karen Monks

Abstract

Fifteen technology initiatives are profiled as case studies in this eighth edition of Celent’s Model Insurer report. Additionally, Celent announces its Model Insurer of the Year for 2015.

In the new report Celent Model Insurer 2015: Case Studies of Effective Technology Use in Insurance, Celent recognizes 14 insurance technology initiatives profiled as Model Insurer winners in the following theme categories:

  • Digital
  • Legacy transformation
  • Innovation
  • Operational excellence in IT management
  • Non-core system implementation
  • Data analytics

The report also names LV= the Model Insurer of the Year. The case studies highlight best practices in the use of technology in insurance in areas such as policy administration, IT management, claims, and distribution. The report also reviews IT best practices and measurable business results used in evaluating the Model Insurer winners.

“Celent evaluated insurance technology initiatives according to five major themes being seen and researched today,” says Karen Monks, an analyst with Celent’s Insurance practice and author of the report. “Insurers are investing in technology that meets their digital agendas, expands their use of data, and modernizes their back office. Additionally, Celent sees several insurers embracing innovation and forsaking established practices to pursue new ideas.”

Nominations were accepted throughout the fall of 2014, and the Celent insurance team selected the winners based on the best practices used and business benefits provided. Each Model Insurer winner is described in a case study within the report, including detailed descriptions of business drivers, technology environments, and quantitative success metrics.

This 76-page report contains 14 Model Insurer winner case studies, one Model Insurer of the Year case study, 16 tables, and 12 figures.

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