Award Recognizes E-Business Leaders

As insurance e-business and e-commerce initiatives evolve into "clicks-and-bricks" models, the ability to effectively introduce innovation and change into the enterprise is a key competitive advantage. Recognizing how these trends are transforming the insurance industry, Insurance & Technology, InSystems and META Group are partnering to initiate the Insurance Innovators Award.

The Insurance Innovators Award will recognize the use of Internet technologies to improve business relationships. The new award is intended to honor an innovator (individual or group/team) who has acted as a change agent by advancing Internet education, and/or the adoption of Internet technology, in an insurance company or insurance industry association. Among the criteria for determining the winner, who will be announced in June 2002, are the following:

— Led development of new products or processes around the Net;

— Led use of the Net to improve relationships with customers, distribution channel partners and regulators;

— Initiated use of the Internet to stimulate new business opportunities; and

— Achieved cost reductions and productivity gains through Net-based processes.

According to Michael Egan, president and CEO of InSystems (Toronto), a provider of relationship-centric, e-business solutions for the global financial services industry, "The marketplace is demanding products and services that are customized and personalized. They expect access to up-to-date information 24/7 and to be able to make changes to that data through self-service. We are launching the Insurance Innovators Award with I&T and META Group to recognize industry leaders who are responding to these challenges by driving the implementation and application of Web-based technology."

"Despite uncertainty and doubt created by the current Internet market downturn, insurance and financial services companies must integrate appropriate e-business processes and technologies into their business plans over the next two years to develop the efficient, customer-centric value delivery chains necessary to be competitive in the post-2000 insurance industry" according to Chuck Johnston, vice president and director, insurance information strategies, for Stamford, CT-based META Group, a research and consulting firm focusing on IT and business transformation strategies. "Unlike previous technology-focused awards, The Insurance Innovators Award will not necessarily go to the best technologists in the industry, but to those who can apply these technologies to make the greatest business impact."

The deadline for applications will be April 1, 2002. For details on the award program, and to obtain/request an application form, visit the Web sites of InSystems (www.insystems.com), META Group (www.metagroup.com) or Insurance & Technology (www.insurancetech.com). For more information, contact Janet Bendon Fabri of InSystems, 905-513-1400, ext. 3349, [email protected], or Katherine Burger, Insurance & Technology, 212-600-3062, [email protected].

Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio