Insurance-Canada.ca honors technology leaders at annual conference
TORONTO, March 2, 2011 – Five insurance carriers, a broker, one service provider, and six technology companies received Insurance-Canada.ca Technology Awards (ICTAs) at the organization’s annual Insurance Technology Conference, held February 28 in Toronto. The awards recognize insurance practitioners, service providers, and technology firms that demonstrate leadership in the development and implementation of automation in insurance.
Insurance companies Economical Insurance Group, Pembridge and The Dominion all received “Best in Class” awards. Pembridge won for its advances in portal-free on-line transaction processing; Economical for its Insurance-on-Demand system which allows insurance consumers to buy or service their insurance through a broker branded website. The Dominion received the ICTA for its microsite – www.understandingmyinsurance.ca – which provides consumer education about the latest auto insurance rules in Ontario.
Insurance companies Sun Life and Manitoba Public Insurance earned their “Best-in-Class” awards on the Claims side. Sun Life integrated a number of latest-generation technologies with their existing claims management system to make the FastForward Claims Solution for health and dental claims paper-free. MPI implemented a new claims system using technology from FINEOS, with a special focus on bodily injury claims, which enabled improved processes from open to close.
Reider Insurance took home an ICTA for a new web-based application which they have implemented to capture and manage leads through fulfillment – the whole sales process.
For Claims services, Crawford earned a “Best-in-Class” for their Property ADVANTAGE system, developed in-house, which brings full process control and management through mobile technology and communications to the field adjuster, greatly reducing the life cycle of property claims.
Technology providers Applied Systems, Brovada and Keal Technology each earned an ICTA as well. Brovada technologies at Grenville Mutual and at Pembridge were used to improve the workflow efficiencies between each company and its brokers for a variety of transaction types. Keal partnered with Lombard insurance to again further integrate commercial lines processing between Lombard’s LincQ and Keal’s CMS to reduce workload and improve customer service. Applied Systems received an ICTA for their leadership in the use of industry standards across a variety of companies and their brokers.
Three organizations received honorable mention. FINEOS was acknowledged for the enabling technology supporting the MPI ICTA, SMT – Structure Monitoring Technology for the tools that monitor buildings under remediation for dampness, and Web Wizards for the systems supporting Reider’s sales capture and management process.
According to Insurance-Canada.ca principal Doug Grant, the awards were developed to celebrate organizations that successfully realize the benefits of technology in improving service, reducing costs, and increasing productivity for insurance professionals. “Insurance is a transaction- and data-intensive business that can be positively impacted by the intelligent application of technology,” says Grant . “We want to acknowledge organizations that invest in solutions for the benefit of their customers, employees, and shareholders.”
The Insurance-Canada.ca Technology Conference, now in its ninth year, focuses on topics of interest to senior- level insurance people who utilize technology, and to suppliers of products and services to the industry. The Conference attracted 400 attendees and 34 sponsors/exhibitors.
About the ICTAs
The annual Insurance-Canada.ca Technology Awards recognize innovative implementations of technology in P&C insurance in Canada. For each nomination, up to two technology providers identified as being instrumental in an application are recognized as co-nominees, as they do not use the technology for the business of insurance themselves.
Insurance-Canada.ca Inc., a privately held company founded in 1995, is a leading source of information for Canadian insurance consumers and professionals. With a focus on the intersection of insurance and technology, Insurance-Canada.ca helps clarify the potential that technology brings to the business of insurance. For more information, visit www.insurance-canada.ca.
Source: Insurance-Canada.caTags: Applied Systems, Brovada, Crawford & Company, Insurance-Canada.ca Technology Awards (ICTAs), Keal Technology, Manitoba Public Insurance (MPI), Pembridge Insurance, Sun Life, The Dominion