Innovative Insurance Net-Based Initiatives To Be Honored by Insurance & Technology, InSystems and Celent

2nd annual Insurance Innovators Award showcases insurance e-business success stories.

Toronto; New York-The 2nd Annual Insurance Innovators Award-created to recognize the use of Internet technologies to improve business relationships in the insurance industry-has been launched by InSystems, a leading provider of insurance portal software and document automation solutions to the financial services industry; Celent, a research and strategy consulting firm that helps financial institutions rapidly create business and technology strategies; and Insurance & Technology, the resource of technology strategies for insurance leaders. The 2003 winner will be announced at the IASA Annual Conference & Business Show, June 1-4, 2003, in Denver.

The Insurance Innovators Award recognizes an innovator (individual or group/team) who has acted as a change agent by advancing Internet education, and/or the adoption of Internet technology, in an insurance company or insurance industry association. Additionally, the Award recognizes implemented real-world solutions that are getting results, and achieving ROI. Among the specific criteria for determining the winner are the following:

  • Led the development of new products/processes around the Internet;
  • Led use of the Internet to improve relationships with customers, distribution channel partners and regulators;
  • Initiated use of the Internet to stimulate new business opportunities;
  • Aimed to incorporate industry standards as part of solution; and
  • Achieved cost reductions and productivity gains through Internet-based processes

The 2002 Insurance Innovators Award winner was Aon’s Wired for Growth� (, the first Web-enabled virtual risk manager, which provides growth-cycle-specific insurance products and services through an electronic platform.

“Insurers are actively listening to customer and distribution channel requests for services via the Web, and are using the Internet to redefine relationships with the stakeholders in their value network,” said Andrew Jackson, Chief Marketing Officer and General Manager, eXterity, InSystems. “The Internet provides insurers with a cost-effective way to gain a competitive edge. The Insurance Innovators Award recognizes those insurance organizations that have gained efficiencies, improved relationships and realized ROI through the implementation of cutting-edge solutions.”

“The insurance industry is increasingly embracing Web technologies in order to speed delivery times, capture and use data more effectively, and cut costs throughout nearly all stages of the product life cycle from product design to claims,” says Matthew Josefowicz, senior analyst, Celent. “Celent is proud to have the opportunity to recognize the best efforts in the industry as the independent analyst partner for the 2003 Insurance Innovators Award.”

“In today’s competitive financial services environment, where speed-to-market, efficiency and consistently strong customer service are requirements for success, a growing number of insurance organizations are proving that a savvy embrace of e-business concepts is essential to achieving these goals,” notes Katherine Burger, editorial director, Insurance & Technology. “The Insurance Innovators Award recognizes real-world Internet-based solutions that insurers have developed to streamline operations and provide world-class service to both internal and external customers.”

The deadline for applications will be March 28, 2003. For details on the Insurance Innovators Award, and to obtain/request an application form, visit the InSystems Web site ( For more information, contact Janet Bendon Fabri of InSystems, 905-513-1400, ext. 3349, [email protected], or Katherine Burger, Insurance & Technology, 212-600-3062, [email protected].

InSystems is the premier provider of insurance portal software and a leading provider of document automation solutions. Only by using InSystems e-business software can financial services organizations deliver Web-based personalized sales, fulfillment, and service capabilities across all of their relationships, boosting efficiency, decreasing costs, improving service and increasing revenues. Founded in 1989 and based in Toronto, Canada, InSystems, a wholly-owned subsidiary of Standard Register, has more than 350 insurance customers in 24 countries, including over 50 of the largest insurance groups in North America and over 55,000 life insurance agents and agencies.

Celent Communications 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 experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis (

Insurance & Technology’s core mission is to deliver critical technology strategy and infrastructure information to the industry’s business and technology elite. Insurance & Technology has been successful at providing high-quality, thought-leading coverage in print (Insurance & Technology magazine), online ( and Insurance & Technology News, I&T’s biweekly e-mail newsletter) and face-to-face events, including the Executive Summit and the Leadership Forum conference series. The Insurance & Technology portfolio is published by CMP Media LLC’s Business Technology Group, a wholly owned subsidiary of United Business Media.