Nine Insurance Companies Honored for Advancing Technical Acumen in the Industry

By Beecher Tuttle
TMCnet Contributor

Over the last few years, a number of technological and business innovations have helped reshape the insurance industry, making the somewhat painstaking process of covering one's liabilities a bit less complicated.

In an effort to call attention to these game-changing advances in technology, Insurance Networking News recently released the results of its annual INNovators Awards. These honors were given to companies that further developed the technical acumen in the insurance industry by introducing a specific application or product.

For the fourth year in a row, the awards were broken down into three distinct categories: core systems, enterprise systems and customer experience.

The core systems award was given to Harleysville Insurance for its work in developing back office technologies and innovations that helped improve the company's bottom line. The second and third place winners in this category were Travelers Select Accounts and XL Insurance.

Meanwhile, Farmers Insurance Group took home the first place prize in the enterprise systems category for pushing technologies and initiatives that bridge cross-functional and operational boundaries. Finishing behind Farmers was USAA and Pacific Compensation Insurance Company.

Finally, the top award in terms of customer experience went to CUNA Mutual Group, which was found to have successfully attracted and retained customers using a front-office technology. Enchanter Insurance and Plymouth Rock Companies finished second and third, respectively.

"Our INNovators are a testament to the industry's ability to successfully develop and promote technology and business innovations across functional lines to create a win-win," Pat Speer, Editor in Chief of Insurance Networking News, said in a statement. "This year's entries make it clear that insurers understand the importance of innovation as a key to competitive advantage."

The award winners were picked by a panel of expert judges from companies like Novarica, Forrester (News - Alert) Research and ACORD. Insurance Networking News will publish the specifics on each particular innovation in its upcoming holiday print edition, which should be available in January.

Beecher Tuttle is a TMCnet contributor. He has extensive experience writing and editing for print publications and online news websites. He has specialized in a variety of industries, including health care technology, politics and education. To read more of his articles, please visit his columnist page.

Edited by Juliana Kenny