Celent Model Insurer 2010: Case Studies of Effective Technology Use in Insurance,

The report also names Missouri Employers Mutual Insurance the Model Insurer of the Year. These best practices in the use of technology span 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.
"One common theme for many of the projects profiled in this year's report is the emphasis on top-line growth," says Mike Fitzgerald, senior analyst with Celent's insurance group and author of the report. "Insurers are looking to technology to enter new markets, or to address new segments within existing ones."

Model carriers, the projects, and the technology vendor include:

Allianz Life Insurance Company of North America: using technology to attract new distribution partners through the Transformation program from Depository Trust & Clearing Corporation (DTCC).

American Modern Insurance Group: Replacing a legacy platform in a budget-neutral manner with technology from Innovation Group.

Atava - RSA Scandinavia: Combining the scale of a traditional company with the flexibility of a startup to build a new proposition. The operation is outsourced to Affecto and uses technology from SAS Institute and SMS.

AVIVA-COFCO Life Insurance Company, LTD: Realizing internal and external business value through data standards using a distribution management system from Siebre Systems.

Calliden Group Limited: Consolidating multiple systems to a modern platform which enables growth in a startup operation through the use of a vendor solution from SSP.

Capitol Insurance Companies: Bringing work processes in line with the expense structure of a book of business with the OneShield Dragon solution from OneShield.

Church Pension Group: Changing a legacy platform to self-service in order to realize a business vision with technology from StoneRiver.

Erie Insurance Group: Tying together all parts of the insurance value chain using technology from Dell Perot Systems.

Erie Insurance Group: Increasing speed to market and decreasing expenses using an external rating engine from Ratabase.

Esurance: Implementing self-service claims with vendor technology while retaining company-specific branding/look and feel through a solution from Innovation Group.

Farmers Insurance: Using data to drive distribution strategy and tactics with technology from SAS.

FBL Financial Group, Inc: Supporting a startup business with necessary automation without incurring all costs of a traditional support structure using several technology products from CSC.

Harford Mutual: Using multiple technology solutions to increase ease of use for independent agents with an agency portal from AgencyPort.

Hertz Europe: Transforming a business model with technology from the Innovation Group.

Highmark: Discovering fraud that cannot be seen through the use of technology from FICO.

Kansas City Life Insurance Company: Using ECM to modernize applications across multiple processes with the OnBase solution from Hyland Software.

Liberty Mutual Agency Markets: Changing product development from a reactive to a proactive process to support business growth using Blaze Advisor from FICO.

LV=: Using a standard presentation layer across the business to increase online channel revenue from multiple lines of business with technology from edge IPK.

Missouri Employers Mutual Insurance Company: Transformational change using the ClaimCenter product from Guidewire

Nationwide Insurance: Using technology to rapidly enter a new market with premium service requirements from Exigen Insurance Solutions.

PMI Group: Using an advanced testing utility to improve system delivery and business results developed with Infosys.

Suncorp: Supporting a segmentation approach to the market using the Product Machine from FJA.

The Cincinnati Specialty Underwriters Insurance Company: Leveraging a previous implementation in order to enter a new market quickly with technology from Camilion Solutions.

The Hartford Financial Services: Bringing order to multiple, aging systems that support a critical, highly regulated process and developed in-house.

The Phoenix Companies: Consolidating multiple systems into a single front end in order to increase efficiency and improve customer service with technology from CSC.

Tokio Marine & Nichido Fire Insurance Co., Ltd.: Overcoming critical challenges in a complex project in a project developed in-house.

Unitrin Direct Auto and Home Insurance: Using business process management to modernize applications across multiple processes using the DocFinity workflow solution from Optical Image Technology.

Zurich Financial Services: Standardizing process and technology on a regional basis in a manner that allows for local differences using the Accenture Insurance Solution.

Nominations were accepted throughout 2009, and the Celent insurance team selected the 28 winning initiatives based on the business benefits provided. Each Model Insurer Component is described in a brief write-up within the report, including detailed descriptions of business drivers, technology environments, and quantitative success metrics.
Nominations for the 2011 report will be accepted throughout the year and may be submitted by carriers or their software vendor partners. This report contains 27 carrier profiles, one case study, two tables, and two figures.

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Celent&#039;s Model Insurer Study Honors Technology Initiatives

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Celent's Model Insurer Study Honors Technology Initiatives