Novarica Research Council Impact Awards Nominees Announced

Matthew Josefowicz

Today we announced the nominees for the Novarica Research Council Impact Awards, which will be judged by all 300 members of the Novarica Insurance Technology Research Council, making them the largest peer-jury awarded recognition in the industry.

The nominees were selected from more than 40 submissions of case study information by insurers, most of which will be included in a compendium published this fall. I want to thank the nominating committee of Research Council members for their work in selecting the nominees. Committee members Andy Wood (Wilton Re), Dan Simpson (Trustmark), Eric Bulis (SBLI USA), Larry Fortin (Millers Mutual Group), Mark Berthiaume (Chubb), Pete Moreau (Amica), Piyush Singh (Great American Insurance Company), Reuben Broadfoot (LifeMap), Sal Abano (Tower Insurance), Stuart Tainsky (PURE), and Tim Billow (ING) spent time carefully reviewing more than 40 submissions to make their selections.

The nominees for each category are:

Practice

  • Erie overhauled IT cost reporting by using PPM application to track all costs across 13 discreet portfolios.
  • CAMICO initiated the Open Innovation Program to allow employees to submit, vote, and support ideas to leverage employee creativity.
  • Allstate Financial established an enterprise-wide test environment which uses one algorithm to scrub data across applications.

Quick Hit

  • Great American created customer mobile apps to deliver self-service functionality.
  • Oregon Mutual deployed an iPad and cloud-based agency relationship management tool.
  • Zurich allows program administrators to upload commercial specialty business in real time from their agency systems.

Transformation

  • American Safety undertook an initiative to consolidate all underwriting units across the company into a single system.
  • A large multiline P/C insurer undertook a three year project to replace legacy policy administration systems with a modern configurable system.
  • Capitol replaced multiple legacy surety systems with a single modern platform and enabled online self-service for agents.

Expansion

  • Cincinnati Financial transformed how independent agents process business using ACORD XML Standards and real time from agency systems.
  • Patriot National created a web-based, real time rating and quoting portal capable of quoting companies in all states.
  • Allstate Financial enabled producers and customers to legally bind an electronic signature to a life insurance application via Internet.
  • PEMCO created SmartSearch, allowing CSRs to find customers without exact spelling or policy number, and The Hub, which offers a consolidated customer overview.

The full council is voting now, and the winners will be announced at our Event on Tuesday, October 30th in NYC.