Carriers making the best use of new technologies are getting their due at the 2010 Celent Model Insurer Awards in New York. At the fourth annual event, insurers representing the breadth of the industry were recognized in eight separate categories spanning all insurance operations. Due to the current set of challenges facing carriers in the wake of the financial crisis, this year's awards focused more on channel integration strategies and SOA/Web services.
This year, Celent recognized 28 insurers for their efforts in realizing significant business value by applying technology to the insurance process. According to Celent Senior Analyst Mike Fitzgerald, many of this year's submissions dealt with growth initiatives, such as the rationalization of automation across distribution channels. Fitzgerald also noted that, during the review process, they also observed a greater use of industry standards (ACORD, DTCC) to tie together partners in new, effective ways.
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