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Insurance-Canada.ca Technology Awards (ICTAs)

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As computer and communications technologies evolve at ever-faster rates, so too do the innovative and beneficial uses of these technologies by participants in the insurance industry.

To highlight and celebrate the use of technologies that impact insurance, Insurance-Canada.ca sponsors the Insurance Canada Technology Awards – the “ICTAs.” These were first awarded at the 8th annual Insurance-Canada.ca P&C Insurance Technology Conference on February 22, 2010, and have been presented annually at ICTC since then.

Congratulations to the 2014 Insurance-Canada.ca Technology Award winners! The awards were presented at ICTC 2014 on Monday, March 17.

Purpose

To celebrate organizations in the Canadian Property and Casualty Insurance industry whose implementation and use of technology shows a significant impact on a process or group of processes used in the sale, processing and servicing of insurance in Canada.

Historically, most business applications of technology were within a company. Today “multi-party business application implementations” are increasingly common. Both types are important; nominations of both are welcome.

Eligible Insurance Businesses

The ICTAs recognize deserving applicants who use technology for the processing of insurance business, the key factor being that the nominee must use the technology. These organisations include:

  • Insurers — companies licensed to underwrite business in Canada (includes reinsurers).
  • Distributors — companies licensed in Canada to distribute insurance underwritten by one or more insurers in Canada.
  • Suppliers — companies that supply insurance-related services (data, information, restorations, repairs, BPO, premium financing, underwriting or claims services, etc.) to Insurers and Distributors in Canada.

Note on Technology Providers: Organizations that provide technology to Insurers, Distributors or Suppliers, but do not use the technology themselves for insurance purposes, are not eligible. They are encouraged to nominate firms which do use their products. Technology providers appropriately identified in a nomination will be recognized alongside the nominated organization when Insurance-Canada.ca notes the nominees in any way, and they will receive a corresponding ICTA plaque if the nominee is a finalist or winner.

Note on Awards Categories (NEW for 2015): This year, there are no separate categories. Each nomination will be assessed against all other nominations.

Publishing the “Business Use of Technology” Descriptions (NEW for 2015)

The ICTA nominations represent many different uses of technology in support of the insurance business.

In order to provide more visibility for the nominees, their partners, and the usage of technology, two things will be published this year as the nominations are submitted:

  • The “Executive Summary” will be published in the list of nominations.
  • An “Application Brief,” consisting of the “specific business uses of the technology” combined with the “business impact of the technology,” will be published and referenced in the Chronicle weekly newsletter. (Note that the application brief can be previewed by the nominee and partners).

Publication of the uses of technology will enhance the awareness of not just what can be done, but some of the interesting ways that technology is being leveraged.

Award Criteria

Insurance-Canada.ca Technology Award ribbon

The primary criterion for all awards is the positive impact that a specific technology or application of technology has had on business. The impact will be judged relative to the investment made. A small application may have a large relative impact, while a huge implementation may not have so great an impact.

In order to have an assessment of the business impact, technologies should have been in production for a minimum of three months. Examples include:

  • Introduction of new technology that enhances customer satisfaction;
  • Utilization of technology to reduce costs or improve service;
  • Development of technology that serves a need not previously served by technology within the industry;
  • Innovative integration of technologies to reduce costs, improve service, or streamline processes;
  • Using the Internet for new functions like initiating on-line claims first notice of loss and claims inquiry for all channel partners;
  • Deploying new technologies – tablets, smart phones, social media – in creative ways;
  • Leadership within the industry or a subset on the development of standards or practices for the utilization of technologies (industry associations, user groups, etc.);
  • Use of technology to create new products or products with a difference (telematics/UBI);
  • New approaches to identifying or preventing fraud (analytics);
  • Integration of new information or data into the claims or underwriting and rating functions.

Get Started Making a Nomination

See our ICTA Nominations page for nomination details and application forms, and read about the adjudication process which will follow after nominations close in December.

Past Winners




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