- Where Insurance & Technology Meet

#ICTA2014 – Celebrating Integrated & Customer-Focused Solutions

ICTA-121x57The 2014 Technology Awards (#ICTA2014) will be presented on March 17, 2014.  Green will be the theme, not only in honour of St. Patrick’s day; all of the finalists are leaders in greenfield territory, implementing innovative solutions in support of insurance excellence.

As we noted in this space in January, most of the nominations fell into two major categories.  We can confirm that all of the finalists represent best in class case studies in either Integration or Customer Focus.

Bringing it all together

Implementing technology can bring benefits, but real innovation frequently requires integrating disparate technologies in support of specific business goals.  Here are some of the finalists who took these steps:

  • Archway Insurance, nominated in the Distributor Category, is a large, Atlantic-owned independent insurance brokerage, which has grown organically and by acquisition.  Archway credits its success in meeting its goals to its dedicated staff, the support of its insurers, and Applied Systems‘ TAM product which “enables our locations, which span more than 800 km to work seamlessly together and as s team.”
  • Also nominated in the Distributor Category, Western Financial Group looked to Applied Systems and its Epic product to assist in integrating business operations among its 200 offices to support growth.  WFG credits Epic for improving performance in two areas: Customer Opportunity  Identification, and Carrier Management.
  • The Boiler Inspection and Insurance Company of Canada, nominated in the Insurer Category, relies on its field inspectors to assist in underwriting its complex exposures and to flag property and equipment hazards.  To improve productivity, the company customized third party software to streamline reporting and integrate the inspection information into the company’s policy administration system.
  • Nominated in the Supplier Category, Intrepid 24/7 provides worldwide medical, security, and travel assistance and information to groups, individuals, and policyholders of insurance companies.  Using internal resources, Intrepid 24/7 developed Travel NavigatorTM,  a web and mobile application that integrates medical, security, and travel information before, during, and after a trip.
  • Audatex Canada, also nominated in the Supplier Category, supplied technology to RSA Canada which streamlined the company’s claims handling process.  By replacing a number of point solutions with a fully integrated system, the company anticipates leveraging its capabilities and providing superior service to clients.

Looking outside the enterprise

With the ubiquity of technology and the maturation of the Internet, leading insurers, brokers and suppliers are responding to demands from customers and business partners for robust, externally-focused, technology services.  ICTA finalists represent this leadership.

  • The Cooperators, nominated in the Insurer Category, has taken its on-line presence to the second generation.  Working with its technology partner, Kanetix SaaS,  took learnings from its initial offering and are now offering a “simplified approach not only makes it faster to get a quote, it also puts our customers in complete control of their experience.”  Coop is rewarded with greater customer engagement, and improved completion rates.
  • Also in the Insurer Category, Group Medical Services, which provides a complete range of health and travel insurance to individuals and groups through brokers.  GMS worked with its brokers to develop and iteratively deploy next generation broker portals, the functionality of which can be extended to group and individual customers.
  • Travelers Canada, nominated in the Insurer Category, focused on opportunities in small commercial business with its technology provider, OneShield. The result was a mix of advanced on-line services, which can provide real-time quotes and binders either through the broker’s system directly or directly, with subsequent CSIO standards based integration with the broker’s Customer Management System.  The solution provides efficiencies for the carrier and the broker coupled with significantly bette service levels for the end consumer.
  • In the Distributor Category, LaSalle, ON based Ives Insurance, along with technology suppliers Keal Technology and Quindell Solutions, implemented a consumer portal which allows consumers secure 24/7 access to information in the broker’s management system and, via CSIO standard transactions, through to information from insurers’ systems.  The broker can set the level of access from simple inquiry to complex policy change transactions.  The result is the capability for brokers to compete with service levels of direct writers.

#ICTA2014 will celebrate Innovation Greenly

The #ICTA2014 jurors deliberated carefully in selecting the finalists.  The voting for the winners has been completed and the reveal will occur during  theICTC-wheel-plain-r60 Technology Awards celebration, to be held during the Technology Conference.

If you are unable to attend the full conference, there is a separate registration available for the Awards Ceremony and Reception. And, yes, Green Beer will be served.

A reception following in the exhibit area will allow interaction with the nominees, finalists, and category winners.  Information available at the #ICTC2014 site.  Join us