Innovation in Insurance: Defining the Current State Through an Analysis of Six Years of Model Insurer Submissions

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13 August 2018

Even the best insurance technology initiatives fall short in disrupting the insurance industry.

Key research questions

  • What is a Model Insurer?
  • What common best practices and investments are evident among the submissions?
  • What can an insurer learn from the Model Insurer submission data?


The data quantifies the widely recognized judgment that insurers have not sought to change the traditional business model.

What is the current state of insurance innovation and transformation? This analysis of the Celent Model Insurer Award submissions answers this question. Submissions for the award program provide insight into the leading insurance technology initiatives across the globe. This valuable database reflects the transformation efforts which have been recently completed or are currently nearing launch. Analyzing them creates a current picture of the state of the industry.

Detailed, verified benchmarking related to insurance technology activity is very difficult to obtain. Firms want to know what their competitors are working on, but are reluctant to identify their own activities. It is valuable to know what is, and what is not, being pursued. Such information feeds decisions regarding future investments. This review of six years of Model Insurer submissions provides an empirical reflection of what, why, and how leading insurers have invested in technology.