BOSTON--(BUSINESS WIRE)--Pekin Insurance® will receive an Impact Award from the Novarica Insurance Technology Research Council, a peer community of hundreds of insurer CIOs, for its enterprise transformation program. More than 50 members reviewed dozens of case studies to select the winners for the 7th annual awards.
Pekin Insurance’s enterprise technology transformation program included core, digital engagement, data management, and enterprise integration. In the first year of a three-year program, the company reported being on track for a $2.5M premium growth in its new BOP line of business and projected $70M in increased profitability and $30M in operating efficiency over five years.
“Pekin Insurance’s enterprise technology transformation program reflects our business strategy of exceptional service to our agents and policyholders,” said Subhasis Mukherjee, VP and CIO. “I want to thank all employees and our partners led by Deloitte Consulting who have worked exceptionally hard to make this program a success.”
“Pekin Insurance’s initiative was selected by our Council members for its business impact and the way such a large program is being effectively managed across a large number of partners and technologies,” said Matthew Josefowicz, President/CEO of Novarica and moderator of the Council.
Pekin Insurance’s 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 7th Annual Best Practices Case Study Compendium, online at https://novarica.com/compendium2018/. Novarica has published more than 200 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. Council members 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 100 insurers make better decisions about technology projects and strategy through published research, advisory services, and consulting on IT strategy, benchmarking, project assurance, capability and organizational assessments, and vendor selection. https://novarica.com/.