SAN DIEGO, May 23, 2011 /NEWS.GNOM.ES/ ? (http://www.myprgenie.com) ? Insurance Networking News (INN) and Celent released INN?s fifth annual technology solution provider ranking for the insurance industry today at an awards event held at the ACORD LOMA Insurance Systems Forum in San Diego.
In the 2011 Vanguards in Insurance Practices (VIP) ranking, insurers were asked to name the technology firms that represent the ?best of the best? in terms of the value they deliver. Insurance carriers in the United States and Canada ranked the top insurance technology providers across several categories, including vertical and horizontal solutions, platform technologies and IT services.
Insurance Networking News is a trusted source for information on how technology is being implemented to support insurers? strategic business objectives, providing insightful analysis of the technology innovations utilized to automate critical processes.
In partnership with Insurance Networking News, Celent, an independent business research and advisory service with a specialization in insurance technology, led the survey development, data collection and analysis for the rankings. The result is a truly insightful ranking based on objective peer review.
?These rankings reflect useful intelligence on proven technology and how it?s used. Our research results also answer the ?why? behind the ranking, which can be used by insurance technology buyers for future IT budget-setting,? said Holli Gronset, INN?s publisher.
?The VIP program is an excellent feedback loop for insurers as they consider who to partner with, and where to spend their IT budgets,? Said Craig Weber, Senior Vice President responsible for Celent?s insurance practice. ?There are many paths to achieving ?favorite vendor? status, but the unifying thread is that recipients of VIP recognition are effectively solving problems for their customers.?
The complete ranking and related analysis will be available in the ?2011 Vanguards in Insurance Practices,? a supplement to the June 2011 issue of Insurance Networking News.
The top-ranked solution providers in Phase I of the INN 2011 VIP Awards are:
Insurance Vertical Solutions
1st Guidewire
2nd Sircon
3rd SeaPass Solutions
Insurance IT Services
1st Guidewire
2nd Microsoft
3rd IBM
Platform Technologies
1s t Microsoft
2nd Guidewire
3rd Vertafore
Insurance Horizontal Solutions
1st Vertafore
2nd Guidewire
3rd Microsoft
Agency Systems
1st Vertafore
2nd Applied Systems
3rd StoneRiver ? FSC
Phase II of the INN 2011 VIP Awards program recognizes an insurer?s best practice for its use of a specific technology, and the role, if feasible, ACORD data standards played as part of their business and technology success story. The winners of the INN 2011 VIP Best Practices Awards are:
First Place: BOLT Insurance Agency (Nominated by SeaPass Solutions, Inc.)
Second Place: Mercury Insurance Group (Nominated by Guidewire )
Third Place: Narragansett Bay Insurance Company (Nominated by Exigen Insurance Solutions)
Third Place: Mountain West Farm Bureau (Nominated by Innovation Group)
Honorable Mention:
The Cincinnati Specialty Underwriters Inc. (Nominated by Camilion Solutions)
Aon/Benfield (Nominated by Sword AgencyPort)
Narragansett Bay Insurance Company (Nominated by BlueWave Technology)
The INN 2011 VIP Best Practices Award winners were formally recognized by Lloyd Chumbley, Vice President of Standards at ACORD at the VIP awards ceremony.
In a special segment of the INN 2011 VIP Awards program, ProspX, Austin, TX, was recognized as the INN 2011 VIP ?company to watch.?
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About Insurance Networking News
Insurance Networking News rel='nofollow'> is a trusted source for information on how technology is being implemented to support insurers? strategic business objectives, providing insightful analysis of the technology innovations utilized to automate critical processes. Insurance Networking News is written to help senior insurance executives obtain mission-critical information on resolving industry challenges.
About Celent
Celent 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.
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