HARTFORD, Conn.--(BUSINESS WIRE)--Insurity, Inc., a provider of core insurance processing software and data integration & analysis solutions, is pleased to announce ACORD has named Insurity’s Insurance Enterprise View as the winner of their Insurance Innovation Challenge at the ACORD2015 Conference in Boca Raton, Florida.
The award identifies and rewards solutions which will begin to transform the industry. The inaugural ACORD’s Insurance Innovation Challenge received 134 submissions, Insurity was chosen as one of six semifinalists for the Innovators category. The judges’ decision was based on a submission’s ingenuity, impact, applicability to the insurance industry, as well as the quality of the presentation. ACORD2015 attendees were also able to vote for their top choice, which contributed to portion of the judges’ decision in choosing a winner. Bruce F. Broussard, Jr., Insurity’s VP of Data Products & Strategy made the presentation for Insurity.
Bill Hartnett, ACORD’s Head of Innovation, commented, “Modernization of legacy systems is a challenge that every insurer faces regardless of their size or structure, and the associated data migrations are arguably the biggest obstacle to these projects. Insurity’s win in the ACORD Insurance Innovation Challenge is an acknowledgement that their Insurance Enterprise View product is an innovation the industry has been waiting for and can be a real game-changer.”
View an ACORD video of Bruce F. Broussard, Jr. speaking about the win here.
Read the full ACORD Announcement here.
About Insurance Enterprise View (IEV)
Insurance Enterprise View (IEV) is the most comprehensive and mature data product available to the P&C insurance industry. It combines five powerful components into a fully integrated solution: Data Integration Hub, Data Repositories, Reporting, BI & Analytics, and Manual Data Entry. Built upon non-proprietary ACORD standards, IEV is architected to manage data at the lowest level of detail from any policy, billing, claims, and reinsurance application.
IEV supports more than 11,000 insurance data attributes and more than 30 Lines of Business out of the box, allowing insurers to deliver value to the business in months rather than years. Detailed transaction and summarized data is available to support all downstream reporting, analytic, and integration needs, reducing the complexity of the IT environment. IEV’s diverse and growing list of clients illustrates the power of the product’s value proposition, and helps drive Insurity’s continued investments in the product.
Insurity, Inc. enables property & casualty insurers to modernize their enterprise and achieve their business goals. Insurity’s core processing applications and data integration and analysis solutions are backed by rich insurance expertise and are in production with over 100 insurers, processing billions of dollars of premium each month. Insurity’s solutions address the needs of all carriers – from the Top 20 insurers to small or regional commercial, personal, or specialty lines writers, as well as MGAs. For more information about Insurity, call 860-616-7721 or visit Insurity.com. Connect with Insurity on Twitter, LinkedIn and Facebook.
ACORD (Association for Cooperative Operations Research and Development), founded in 1970, is a global, nonprofit organization serving the insurance and related industries. ACORD facilitates fast, accurate data exchange and more efficient workflows through the development of electronic standards, standardized forms, and tools to support their use. ACORD members worldwide include hundreds of insurance and reinsurance companies, agents and brokers, software providers, financial services organizations and industry associations. ACORD also presents events, videos, research papers and seminars on current technology and business topics. ACORD maintains offices in New York and London. For more information please visit www.acord.org.