WINDOWS IN FINANCIAL SERVICES Announces 2009 Innovator Award Winners at 2009 ACORD LOMA Forum

Recognizing Outstanding Achievements and Innovations in Leveraging and Customizing
Advanced Technologies for the Insurance Industry

 

Windows in Financial Services, The Source on Microsoft Technologies for Financial Services, announced their INNOVATOR AWARD WINNERS at 2009 ACORD LOMA Systems Forum held at the Dolphin Hotel, Orlando, Florida, on May 18, 2009.

A total of four winners were selected for clearly implementing technologies that will redefine a new tomorrow in technology and demonstrate a clear-cut advantage they have in their particular sector of the marketplace. Criteria for judging and selecting were based on the end result enabling a concrete resolution to an impending issue, solving practical business problems.

MetLife for its centralized high-performance computing environment and workflow process designed to simplify and consolidate a complex legacy environment. The project is reducing costs, significantly cutting processing times, and allowing MetLife to more efficiently review, track and reuse actuarial models. 

Left to right: Sally Baldauf, Microsoft; Stephen R. Rueff and Brian S. Cartwright of MetLife; Bill Hartnett, Microsoft

 

 

 

 

Zurich for its brokerage and underwriting application designed to create a consistent and easy-to-use entry point for our agents and brokers. The application leverages third-party data services to reduce the amount of information needed to process a transaction. Zurich is participating in the early adopter program of Microsoft technology and implementing the solution in multiple phases. Zurich Integrated Products will introduce the tool this spring to selected brokers. Brokers will be able to use the application to do complex commercial multi-state and multi-line appetite guide, qualification and insurance quotes. Underwriters will see data management efficiencies and streamlined business processes. 

Left to right: Don Canning and Bill Hartnett, Microsoft; William L. Thompson, Monique Hesseling of Zurich; Tony Jarosz and Colin Cole, Microsoft

 

Accenture for its Insurance Configuration Components software solution, designed to improve the speed with which it brings new products to market. By configuring product definitions and business rules in a centralized environment, product development has been cut from 12 to 18 months down to a few months.

Left to right: Don Canning, Microsoft; Jeffrey M. Wargin and Gail E. McGiffin of Accenture; Heather Curtis, Liberty Mutual; Cindy Saccocia and Bill Hartnett of Microsoft; Kurt Schulenburg, Liberty Mutual 

 

 

iPipeline for its iGO e-APP^TM, a .NET-based application that allows agents to input application data and submit insurance applications electronically. Electronic submission is enabled only if data is 100 percent accurate. The automated application – an intelligent fillable form – encourages behavior modifications among agents, and the improved accuracy of applications results in reduced sales cycles, increased placement ratio, and lower costs for carriers and agents.

 

 

“The economic crisis has led to dramatic changes in the way insurers do business. During this period, Microsoft technology solutions are helping insurance firms cut costs and transform themselves through software innovation,” said Colleen Healy, general manager, U.S. Financial Services Group, Microsoft Corp. “The winners of the Windows in Financial Services’ 2009 Innovator Awards have shown that technology can be a strategic asset that can help innovate and drive revenue in a volatile market. We applaud iPipeline, MetLife, Zurich and Accenture for their innovative solutions on the Microsoft software platform.”

“Innovation at the financial sector is proving to be a challenge accosting all entities in the financial realm, especially due to an economy that has had seismic rumblings,” said Joe Viviani, publisher, Windows in Financial Services. “This year’s 2009 WFS award winners were able to capture, isolate and overcome a business issue with a solid innovation – and extended its capabilities beyond the traditional limits. Whether on a local or global scale, each of these winners has been able to seamlessly integrate their new technologies into the daily workflow DNA and as a result, save time and worry. We salute all the entries and the winners who took the time to utilize their resources through the Microsoft technology platform to find the right business answer for their distinct business needs.”