Insurance Networking News (INN) and Celent released INN’s third annual technology solution provider ranking for the insurance industry today at a black-tie awards event held at the ACORD LOMA Insurance Systems Forum in Orlando.
In the 2009 Vanguards in Insurance Practices (VIP) ranking, insurance carriers in the United States and Canada ranked the top insurance technology providers across several categories, including integrated systems, platform technology, point solutions, IT services and enterprise technologies. Insurers were asked to name the technology firms that represent the “best of the best” in terms of delivering value.
In partnership with Insurance Networking News, Celent, the most respected source of independent insurance technology and business research and advisory services, led the survey development, data collection and analysis for the rankings.
“We are pleased to work with Celent’s research and advisory professionals, who bring outstanding industry brain power to this program. Our readers and the industry at large are fortunate to be privy to the knowledge and expertise generated as part of our collective research efforts,” said Pat Speer, INN’s Editor in Chief.
“This program really focuses on the experiences of carrier staff, who live and breathe technology issues every day,” said Craig Weber, Senior Vice President responsible for Celent's insurance practice. “So we based the INN 2009 Vanguards in Insurance program on empirical data collected purely from the results of a survey of insurance carriers and brokers. But we also felt it important to add a question about the factors behind respondents’ choices.”
The results, full ranking and related analysis will be available in the 2009 Vanguards in Insurance Practices supplement, included in the June 2009 issue of Insurance Networking News.
The top-ranked solution providers in Phase I of the INN 2009 VIP Awards are as follows:
First place: Microsoft
2nd Place: IBM
3rd Place Dell
First Place: Guidewire Software Inc.
2nd Place: Computer Sciences Corp./Vertafore (Tie)
3rd Place AMS Services Inc. (Vertafore)
First Place: Computer Sciences Corp.
2nd Place: ImageRight (Vertafore)
3rd Place: IBM/Microsoft (Tie)
First Place: ImageRight (Vertafore)
2nd Place: Hyland Software Inc.
3rd Place: IBM
“This year’s program reflects, an unadulterated and unmatched view of the technology solution provider landscape,” said Holli Gronset, INN’s Associate Publisher. “These companies have proven that they deserve special recognition for delivering tstanding value to the marketplace.”
For Phase II of the INN 2009 VIP Awards program, all top-ranked solution providers were offered an opportunity to nominate an insurance carrier as a “visionary” for its use of a specific technology, and encouraged to illustrate the role, if feasible, that ACORD data standards pla ed as part of their business and technology success story. The winners of the INN 2009 VIP Best Practices Awards are:
Third Place: ICW Group -- FirstBest Systems
1. Commerce Insurance Co. – AgencyPort Insurance Services Inc.
2. Arrowhead General Insurance Agency - EMC Document Sciences
3. Fidelity Investments Life Insurance Co. – Oracle Insurance
The INN 2009 VIP Best Practices Award winners were formally recognized by John Kellington, Senior Vice President of ACORD, responsible for all ACORD Standards, including forms, participation & membership, standards technology support and information technology.
“ACORD's goal has been to help people work smarter by using standards. ACORD's data standards and best practices help industry participants share data increase efficiency and accuracy and stay competitive,” Kellington said. “This award embodies the very philosophy of working smarter with standards and represents the ‘best of the best’ as chosen by a body of seasoned insurance industry professionals.”
In a special segment of the INN 2009 VIP Awards program, BlueWave Technology was recognized for its responsiveness in its ability to help insurers expedite claims, and was named the 2009 INN VIP “Company to Watch.”
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