Model Insurer 2014: Case Studies of Effective Technology Use in Insurance
Sixteen technology initiatives are profiled as case studies in this eighth edition of Celent’s Model Insurer report. Celent’s Model Insurer of the Year is announced.
In a new report, Model Insurer 2014: Case Studies of Effective Technology Use in Insurance, Celent recognizes 15 insurance technology initiatives profiled as Model Insurer finalists and winners in the theme categories of digital, legacy transformation, implementation best practices, and data analytics. The report also names MetLife the Model Insurer of the Year. The case studies highlight best practices in the use of technology in insurance in areas such as policy administration, IT management, claims, and distribution. The report also reviews IT best practices and measurable business results used in evaluating the Model Insurer winners and finalists.
“New this year, Celent evaluated insurance technology initiatives according to major themes being seen and researched today,” says Karen Monks, Analyst with Celent’s Insurance Group and author of the report. “Insurers are continually looking to leap-frog their competition by implementing IT projects in the themes of digital, analytics, innovation, and legacy transformation. Projects are successful when best practices are used and measured.”
Nominations were accepted throughout 2013, and the Celent insurance team selected the finalists and winners based on the business benefits provided. Each Model Insurer finalist and winner is described in a brief write-up within the report, including detailed descriptions of business drivers, technology environments, and quantitative success metrics.
This report contains 15 Model Insurer finalist or winner case studies, one Model Insurer of the Year case study, 17 tables, and 8 figures.
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 subsidiary of Marsh & McLennan Companies [NYSE: MMC].
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Table of Contents
Common Best Practices and Results
Implementation Best Practices
Model Insurer of the Year
Leveraging Celent’s Expertise
Support for Financial Institutions
Support for Vendors
Related Celent Research