The research and advisory firm Celent recognizes 17 insurance technology initiatives as model insurer components, in a new report. Celent also names XL Group the Model Insurer of the Year. XL Group was honored for creating a single web-based platform for managing claims globally.
These best practices in the use of technology span key areas of the product and policyholder lifecycle, including product development, distribution, underwriting, policy administration, IT management, claims, and infrastructure. The report also reviews IT best practices and measurable business results used in evaluating the model insurer components.
Celent explains the vision for model insurer research is to try to answer a simple question: "What would it look like for an insurer to do everything right with today's technology?"
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