Insurance Networking News (INN) and Celent, a division of Oliver Wyman Inc., announce that voting is currently underway for the 2011 Vanguards in Insurance Practices (VIP) awards.

In partnership with Celent, this is INN’s fifth annual ranking of technology solution providers to the insurance industry. Winners will be chosen based on votes received by executives and staff from North American insurance companies, including property/casualty, life/health and reinsurance. These insurers will identify their preferred technology providers in several categories, including horizontal solutions, vertical solutions, platform technologies and IT services. Also included in the fifth annual program will be additional rankings by respondent type.

In Part II of the INN VIP Awards program, the top-ranked solution providers will be offered an opportunity to nominate an insurance carrier customer as a “visionary” for its use of a specific technology, and is encouraged to illustrate the role, if feasible, that ACORD data standards play in their business and technology success story. INN’s readers, its Editorial Advisory Board, and Celent’s top insurance research analysts will determine the top-ranked technology best practice in action.

“As the insurance industry responds to economic changes, it is also refocusing on technologies that create short- and long-term competitive advantage opportunities,” says Craig Weber, SVP of Celent’s insurance practice. “We believe that the meaningful intelligence garnered from the VIP results will help carriers make smart decisions on their technology spend going forward.”

For readers of Insurance Networking News who depend on the publication as the independent authority on information that pertains to how technology supports insurers' business strategies, the 2011 INN VIP Awards ranking and analysis will provide insights into leading technology solution providers.

“The 2011 VIP Program not only reflects INN’s delivery of empirical, factual information on the top technology solution providers,” says Pat Speer, editor-in-chief, Insurance Industry News, “it also provides the ‘why’ behind the ranking. By including critical components, such as respondent type and title, as well as how ACORD standards have helped facilitate the leading technology’s application success, insurers can map to their own success.”

The 2011 INN VIP Award winners will be determined solely by insurance carriers, brokers, managing general agents and agents. In partnership with Insurance Networking News, Celent, the most respected source of independent insurance technology and business research and advisory services, will conduct and manage the program’s survey distribution, data collection and analysis.

Winners of this fifth annual ranking will be recognized at an exclusive event held in conjunction with the ACORD LOMA Insurance Systems Forum in San Diego in May 2011, and will be featured in a special report by Insurance Networking News in its June 2011 issue. This special report will include bonus distribution at both the 2011 ACORD LOMA Insurance Systems Forum and the 2011 IASA Educational Conference & Business Show in Nashville.

“We are pleased to continue to partner with Celent on our successful VIP program,” Speer says. “Celent’s research and advisory professionals represent known industry expertise, giving our readers and the industry at large direct access to critical intelligence generated as part of our collective research efforts.”

With senior-level analysts in the United States, Asia and Europe, Celent’s breadth and depth of insurance technology experience daters back to 2001. Celent is the only analyst firm to publish comprehensive reports on insurance software sales volumes and in-depth rankings of vendor software. Celent also publishes the widely read annual CIO survey and popular Model Carrier report, making the firm uniquely position to understand the buyer’s side of the industry’s highly competitive landscape.

Insurers can participate in the survey by clicking here.

Update:

Insurance Networking News (INN) and Celent, a division of Oliver Wyman Inc, announce that the deadline for submission for the 2011 Vanguards in Insurance Practices (VIP) awards’ Best Practices has been extended to January 25, 2011.

In Part II of the INN VIP Awards program, those top-ranked solution providers that received votes in the VIP initial ranking and received an invitation to participate are offered an opportunity to nominate an insurance carrier customer as a “visionary” for its use of a specific technology, and illustrate the role, if feasible, that ACORD and other data standards play in their business and technology success story.

INN’s readers, its Editorial Advisory Board, and Celent’s top insurance research analysts will determine the top-ranked technology best practice in action.

To download the form, click here.

Note: No further extensions will be granted.

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Corrected January 20, 2011 at 4:18PM: yes