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  5. Celent Model Insurer 2019: Case Studies in Innovation and Emerging Technology

Celent Model Insurer 2019: Case Studies in Innovation and Emerging Technology

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12 April 2019
Michael Fitzgerald
Tom Scales

Abstract

Effective innovation and emerging technology implementation continue to create sources of value for insurers.

This report recognizes three outstanding implementations of innovation and emerging technologies by insurers which resulted in reduced costs, faster cycle times, and better customer experiences. This theme recognizes projects such as the expansion into previously untapped markets due to technology; the use of technologies not previously used in the insurance industry; or the development of an innovation culture within an IT organization.

Celent recognizes three companies with a 2019 Model Insurer Award in Innovation and Emerging Technologies.

Winner

Initiative

Synopsis

AXA XL

Data Ecosystem & Engagement Platform (DEEP)

Data Ecosystem & Engagement Platform (DEEP) is an example of a digital, multisided platform that extended beyond technology to address the barriers found in insurance digital transformation programs.

Liberty General

Ascent — Powering Business Transformation

Ascent was formed as a cross-functional team to focus on these innovations possibilities by scanning opportunities, identify disruption areas, develop
MVPs/prototypes, and develop use cases for business adoption by working together with the robust insurtech environment prevailing in India.

Northwestern Mutual

Digital Innovation at Northwestern Mutual

The Digital Innovation & Research Team facilitates the development of initiatives and activities that both foster a culture of innovation and produce solutions to drive the business forward. This dedicated innovation structure helps Northwestern Mutual identify and understand emerging trends, encourage ideation, and deliver iterative experiments that rapidly bring ideas to market

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