Celent announces winners of its Model Insurer Asia Awards

Singapore
May 23, 2017

Celent announced the winners of its Model Insurer Asia Awards at the Fullerton Hotel on May 23 as part of its Innovation and Insight Asia event. Every year, Celent recognizes the effective use of technology by insurers through their implementation of IT programs that epitomize best practices for technology projects in five categories across multiple business functions.

Seventeen financial institutions were recognized in all, with Tokio Marine & Nichido Fire Insurance winning Model Insurer of the Year for its outstanding application of multiple best practices, an initiative presented under the Digital and Omnichannel category.

Below is a full list of winners by category:

            Model Insurer of the Year

·        Tokio Marine & Nichido Fire Insurance (also honored in Digital and Omnichannel Technologies)

Data Analytics

·        AXA Hong Kong (HK, China)

·        Reliance General Insurance (India

Digital and Omnichannel Technologies

·        Aviva Ltd (Singapore)

·        ICICI LOMBARD GENERAL (India)

·        Max Life Insurance (India)

·        PT Prudential Life Assurance (Indonesia)

·        Apollo Munich Health Insurance (India)

·        Liberty Videocon General Insurance (India)

·        HDFC Standard Life Insurance (India)

·        Ping An Property & Casualty Insurance (China)

Innovation and Emerging Technologies

·        Ageas Insurance (Phillippines)

·        MetLife Innovation Centre (Singapore)

Legacy and Ecosystem Transformation

·        AXA Tianping P&C Insurance (China)

·        ICICI LOMBARD GENERAL INSURANCE (India)

·        Aegon Life (India)

Operational Excellence

·        Reliance Nippon Life Insurance (India)

“The quality of the submissions this year is a clear indicator that our industry is turning a corner when it comes to embracing transformation, digital initiatives, and the value of data analytics,” said Dr. Neil Katkov, Senior Vice President of Celent’s Asian Financial Services Practice. “The winning projects offer practical examples of how insurers can be successful when undertaking projects in these areas.”

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

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