Insurance Networking News and Celent released INN’s sixth annual technology solution provider ranking for the insurance industry last night at an awards event held at the ACORD LOMA Insurance Systems Forum in Orlando.
In the 2012 Vanguards in Insurance Practices (VIP) ranking, insurance carriers in the United States and Canada ranked the top insurance technology providers across several categories, including Insurance Core Solutions, Customer Experience Solutions, Decision Support Solutions, Back Office & Support Systems and Strategic Partners.
Celent, an independent business research and advisory service with a specialization in insurance technology, led the survey development, data collection and analysis for the rankings. The result is an insightful ranking based on objective peer review.
Ben Moreland, senior analyst within Celent’s insurance practice, commented that the VIP program continues to provide vendors with the most direct and honest feedback they could ask for from their insurance customers. The Insurers’ candid comments and ratings of those that reached “favorite vendor” status clearly show others how to differentiate themselves against their peers. The preferred vendors are succeeding at delivering on their promise of excellent customer service – anything less is just not acceptable.
“Vision and innovation are key factors to success today, and the winners and nominees of these awards embody those qualities. They also show how implementing ACORD Standards is crucial for success today, but also well into the future. They are solving today’s business problems with technological innovations,” said Lloyd Chumbley, VP of Standards, ACORD, at the VIP awards ceremony. “These insurers were named ‘best of the best’ by a body of seasoned insurance industry professionals and ACORD congratulates them all on their accomplishments.” Chumbley formally recognized the award winners at the VIP awards ceremony.
The top-ranked solution providers in Phase I of the INN 2012 VIP Awards are:
Back Office and Support Systems
First Place: Microsoft
Second Place: Vertafore
Third Place: Applied Systems
Customer Experience Solutions
First Place: Applied Systems
Second Place: Vertafore
Third Place: SeaPass Solutions
Decision Support Solutions
First Place: Microsoft
Second Place: Vertafore
Third Place: Applied Systems
Insurance Core Solutions
First Place: Applied Systems
Second Place: Vertafore
Third Place: Guidewire
Strategic Partner
First Place: Microsoft
Second Place: Dell
Third Place: Guidewire
Phase II of the INN 2012 VIP Awards program recognizes an insurer’s best practice for its use of a specific technology, and the role, if feasible, ACORD data standards played as part of their business and technology success story.
The winners of the INN 2011 VIP Best Practices Awards are:
First Place: Prudential Group Insurance (Nominated by Pegasystems)
Second Place: CNA (Nominated by SeaPass Solutions)
Third Place: Erie Family Life/Erie Insurance (Nominated by iPipeline, Dell Services)
Runners Up:
Lloyds TSB Insurance (Nominated by Innovation Group)
Federated Life Insurance (Nominated by CSC)
Pacific Compensation Insurance Company (Nominated by Jarus Technologies, Mulesoft)
In a special segment of the INN 2012 VIP Awards program, Kony Solutions was recognized as the INN 2012 VIP “company to watch.”
