BOSTON--(BUSINESS WIRE)--Members of the Novarica Insurance Technology Research Council, a knowledge-sharing group of hundreds of insurer CIOs, have selected AF Group as one of two winners for core systems initiatives based on a review of case studies published today at https://novarica.com/compendium2017/.
AF Group deployed a flexible core solution to support business and servicing state requirements. Completed in about a year, the project resulted in about 3,000 policies in force and $9M in premium generated in the first five months since go-live, with an expected $30M in revenue generated in 2017.
“As we explored diversification of our portfolio, we needed an agile platform and a highly responsive partner who could deliver a complex solution within an extremely tight timeline,” said Said Taiym, senior vice president and chief information officer for AF Group. “Our strong partnership with both Guidewire and PwC led to great success with this project and reflects how a clear focus on the customer can drive effective solutions.”
“AF Group’s initiative was selected by the committee for its effective use of technology and real-world business impact,” said Matthew Josefowicz, President/CEO of Novarica and moderator of the Council. “
The case study, along with case studies of seven other winners, and more than 20 additional cases considered for Impact Awards, was published today in Novarica’s 6th Annual Best Practices Case Study Compendium, online at https://novarica.com/compendium2017/. Novarica has published more than 175 case studies through this program since 2012.
About the Novarica Impact Awards
The Novarica Research Council Impact Awards are the largest purely peer-juried awards in insurance technology. Over a dozen CIO members of the Novarica Insurance Technology Research Council vote annually to recognize the efforts of their peers to use technology to drive business value in digital, data/analytics, core systems, and IT operations. No vendors, consultants, journalists, or members of the Novarica team participate in the selection committee, making the Novarica Impact Awards distinctive in being a purely peer-juried award.
The Novarica Insurance Technology Research Council is a free, moderated, knowledge-sharing community of more than 300 insurer CIOs and senior executives. In addition to recognizing successful initiatives through the Impact Awards, members participate in anonymized studies and private, vendor-free events. More information at https://novarica.com/council/.
The Council is managed by Novarica, a research and advisory firm that helps more than 90 insurers make better decisions about technology projects and strategy through published research, advisory services, and consulting on vendor selection, benchmarking, project assurance, capability and organizational assessments, and IT strategy. https://novarica.com/