Celent Honors Fourteen Financial Institutions with Model Insurer Asia Awards

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20 April 2016

MetLife Asia takes home Model Insurer Asia of the Year Award

SINGAPORE, Indonesia -- Celent announced the winners of its Sixth Model Insurer Awards at the Fullerton hotel on April 21 as part of its Model Insurer Asia Awards Summit. Every year, Celent recognizes the effective use of technology by insurers through their implementation of IT programs that epitomize best practices for technology projects in five categories across multiple business functions.

Fourteen financial institutions were recognized in all, with MetLife Asia taking home top honors as Celent’s 2016 Model Insurer Asia of the Year for its work in establishing the Center of Excellence for Data Analytics (COEDA) in July 2014. The center worked to transform big data into customer insights, deliver a more personalized customer experience, and drive incremental profit for the enterprise.

Below is a full list of winners by category:

Model Insurer Asia of the Year

  • MetLife Asia (also honored in Data Mastery & Analytics)

Data Mastery & Analytics

  • Aegon Life Insurance
  • Taikang Insurance

Digital & Omnichannel

  • AXA Direct Life Insurance
  • Cathay Century Insurance
  • L&T General Insurance
  • PNB MetLife India Insurance Co. LTD

IT Management Best Practices

  • IndiaFirst Life Insurance
  • Max Bupa Health Insurance
  • Max Life Insurance

Legacy & Ecosystem Transformation

  • DirectAsia Insurance
  • ICICI Lombard General Insurance

Non-Core Implementation Best Practice

  • AIA Group
  • Reliance Life Insurance

“The quality of the submissions this year is a clear indicator that our industry is turning a corner when it comes to embracing transformation, digital initiatives, and the value of data analytics,” said Dr. Neil Katkov, Senior Vice President of Celent’s Asian Financial Services Practice. “The winning projects offer practical examples of how insurers can be successful when undertaking projects in these areas.”

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