Filed Under:Carrier Innovations, Information Security

Celent Honors 23 Insurers for Effective Use of Technology

Nationwide named Model Insurer of the Year in sixth annual list.

The research and analysis firm Celent names its 2012 Model Insurers. Insurers are identified for their best practices in the use of technology across various area of the enterprise. The report also names Nationwide Insurance the Model Insurer of the Year.

Best practices in the use of technology span key areas of the product and policyholder life cycle, including product definition, distribution, underwriting, policy administration, service, claims, and infrastructure. The report also reviews IT best practices and measurable business results used in evaluating the Model Insurer Components.

"Innovation is a common theme for many of the projects profiled in this year's report. The Model Insurer Components highlight several innovative uses of technology in insurance," says Karen Monks, analyst with Celent's Insurance group and author of the report. "Insurers have stepped up their use of emerging technologies and have had successes in doing so."

Nominations were accepted throughout 2011, and the Celent insurance team selected the winning initiatives based on the business benefits provided.

The list of the Model Insurers in this report includes:

  • AEGON NederlandN.V.: AEGON chose the Informatica data integration platform to build the solution, and Oracle was used as the database for the warehouse. With HCL’s technical consultation, AEGON recently completed the implementation of the data warehouse for the life line of business.
  • AIG Chartis: Using business analytics software to automate strategic risk analysis, Chartis developed a Strategic Risk Analysis team to create systems that take into account the business strategy and the data available to create automated solutions for challenges in underwriting, risk management, and accounting functions.
  • American Safety Insurance: Integrating all underwriting units under a common system, ASI chose Accenture Duck Creek’s policy administration system as the backbone of the system modernization program and at least three other vendor products and several internal systems were involved, as well as ASI's implementation partner, Syntel, Inc.
  • Canal Insurance Company: Leveraging technology to open up new markets, Canal chose a combination of commercially available technologies along with technology developed in house. The core commercial solutions deployed included ISO Rating Service, AQS Designer Access, and AQS Quote Access. The solutions were integrated with Canal’s iQuotes portal and back end systems.
  • CNA: CNA Small Business collaborated with SeaPass Solutions to leverage ACORD XML technology and built a solution that enables agents to create ACORD XML quote and issuance requests that integrate with CNA’s systems regardless of the agency technology or workflows being used.
  • The Co-operative Insurance: Expanding into a strategically important distribution channel, Co-operative implemented SSP Select Insurance components, covering contact management and policy administration to build direct Website and call center interfaces.
  • Courtesy Insurance Company: Courtesy worked with The Innovation Group to implement a new Web-based claims management system, GAP Smart, using Innovation Group’s Insurer Claims. It is a distributed claims handling application used primarily by claim handlers and their managers to process claims.
  • Direct Asia Insurance: I.D.I Technologies Ltd implemented the SOA solution, which includes an end-to-end policy administration, claims, and billing software with web services directory for process integration with’s Web portal layers and other third parties.
  • Erie Insurance: Using iPipeline’s iGO e-App as a cloud-based solution to support the agents’ application processing, the e-App is accessible through a single sign-in via Erie Family Life’s Website, and when used with e-signature and e-submission, the application simplifies the completion of applications.
  • Great American Insurance Company: Using an internal development team, GAIG delivered custom mobile application front ends targeted at agents and insureds and built for different platforms (Android and Apple) delivering an end-to-end experience.
  • The Hartford: TheHartfordredesigned processes and filed for a patent under the name of Issue First, which reordered the life insurance application process to allow the policy to be issued before underwriting is complete. Issue First was rolled out with tools such as iPipeline's iGO eApp, which includes e-signature capability and is integrated with The Hartford's illustration system and the Hartford Investor producer Web portal..
  • HDFC Standard Life Insurance: HDFC Life implemented GOAL (Go Online and Learn) learning management system, a technology-driven platform by SumTotal LMS that enables HDFC Life to offer training, learning initiatives, and programs on the Internet/Intranet for E-learning to take place.
  • L&T General Life Insurance Company Limited: L&T realized organization-wide results in a short timeframe with its technology innovation program. Third party software was used to address areas such as comprehensive policy administration system, customer relationship management, and general accounting
  • Mitsui Sumitomo Insurance Co., Ltd.: After the Japan earthquake in March 2011, the primary role for MSI was to quickly pay claims and terminate policies for properties lost in the earthquake. MSI required a quick information sharing solution that could be accessed from anywhere at any time. MSI opted to use Microsoft Windows Azure, a cloud-based platform as a service, which manages the selected policies relating to the earthquake.
  • Nationwide Insurance: Nationwide leveraged Tealeaf, user monitoring software, to watch actual Web-user sessions to detect error messages that appear on users’ screens in real time. Additionally, Nationwide leveraged HP Diagnostics to enable proactive monitoring within the MQ messaging layers.
  • PhiladelphiaInsurance: Coordinating the replacement and integration of multiple vendors systems to achieve enterprise operational efficiencies,Philadelphiachose Sapiens RapidSure to increase the capabilities available for policy creation and servicing. Other systems implemented as part of the new policy administration environment were Document Science xPression, CGI Ratabase, Software AG, and Prima Solutions.
  • Prudential Insurance: Using BPM to create a single intuitive view of the customer, Prudential selected Pegasystems to bridge multiple, disparate systems, provide real time case management, and implement a single intuitive user interface for customer service representatives.
  • PURE (Privilege Underwriters Reciprocal Exchange): PURE Developed and implemented a workflow automation process into their existing OneShield Dragon policy administration system that allows agents and members to define their preferences and service them according to those preferences.
  • QBE: Leveraging a geographic risk assessment tool to manage portfolio exposures, QBE developed an underwriting and actuarial tool called RAPTOR (Risk Acceptance Pricing Tool for Optimum Rate). In 2010, QBE integrated an external component called Mapflow into RAPTOR. Mapflow is a geographic risk assessment tool which geolocates business property addresses, then tags the associated risk from flooding, subsidence, and commercial burglary.
  • Tokio Marine & Nichido Fire Insurance Co., Ltd.: Tokio Marine & Nichido and telecom company NTT Docomo teamed up to launch insurance products named One-Time Insurance, a series of short-term and small amount policies which can be purchased anytime and anywhere via mobile phones..
  • Torus Insurance: Torus developed ESCAPE (Excess Casualty Portal Entry) to build a broker portal that required as little input as possible in order to quote and bind a policy.
  • Universal Insurance: Universal manages all of their claims operations electronically through their line of business application and their ECM solution, OnBase.
  • Zurich:Zurich combined its understanding of fleet insurance, operations, and risk engineering experience to create a service offering called Zurich Fleet Intelligence to provide customers with user-friendly, onboard, driver-focused telematics technology that allows fleet operators to monitor and assess driver behavior.

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