Survey

Insurance Networking News (INN) and Celent, a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies, have released INN's fifth annual technology solution provider ranking for the insurance industry at an awards event held recently at the ACORD LOMA Insurance Systems Forum in San Diego.

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.

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.

"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, in a statement.

Craig Weber, senior vice president responsible for Celent's insurance practice said that the VIP program is an excellent feedback loop for insurers as they consider who to partner with, and where to spend their IT budgets.

"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," said Weber.

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.