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1. Its all about execution for value
Celent learned from this years awards candidates that a clear focus on execution capabilities, coupled with a closer alignment of business and IT, contributed to implementation success. The benefits to insurers focused primarily on agility, speed, adoption and quality as opposed to just cost. To wit, about 40 percent of entries in this category cited speed as the main benefit, while 20 percent identified quality as a factor. Only about 25 percent of insurers identified cost reduction as their primary benefit.
CNA developed an automated underwriting system that provides agents selling business owner policies with an additional tailored quote option based on the unique characteristics of their clients risk. The system also features marketing messages on the pricing screen, which helps to provide agents with more detailed explanations of the coverage and its benefits.