Harford, Conn. - The Hartford Financial Services Group, Inc. has won the 2006 Annual CIO magazine Enterprise Value Award in the insurance category. The honor is presented to companies in a range of major industries that demonstrate their innovative use of information technology (IT) to further business goals. The Hartford received this ward for implementing its industry-leading automation tool known as ICON 2.0. This electronic quoting and submission system helps agencies and their front line representatives streamline the process of placing small business insurance with The Hartford. ICON 2.0 is accessed through the company's Electronic Business Center (EBC), an intranet site dedicated exclusively to agents that represent The Hartford, and is a user-friendly tool that requires little training.
"We're extremely honored to receive this award and excited about the success we've achieved with ICON 2.0," says Jim Ruel, senior vice president of small business insurance at The Hartford. "ICON 2.0 is truly a time-saving technology that makes writing small business insurance with The Hartford quicker and more efficient. The faster we can meet the needs of the agencies that ultimately sell our products, the better chance we have of earning their clients' business.
Since ICON 2.0 was first introduced in early 2004, the tool has continued to evolve. Most recently, the company added a new feature that generates immediate and accurate pricing which, in turn, enables agents to quote and submit new business even faster.
"We expanded our small commercial business by 21% in 2004, and much of this growth can be credited to the success of ICON 2.0," notes Ruel. "Most of our competitors saw only single-digit growth for small commercial business during this same period."
The partnership between information technology and business has been an ongoing initiative at The Hartford. It is also the theme that underscores CIO magazine's Enterprise Value Awards, which are given to a select group of organizations that clearly demonstrate how they leverage IT to achieve business objectives and produce a return on investment (ROI).
Source: The Hartford
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