BOSTON--(BUSINESS WIRE)--XL Catlin will receive an Impact Award from the Novarica Insurance Technology Research Council, a peer community of hundreds of insurer CIOs, for its digital innovation practice. More than 50 members reviewed dozens of case studies to select the winners for the 7th annual awards.
XL Catlin developed a digital innovation practice within its Global Technology function to improve processes and capabilities by leveraging emerging technologies. By partnering closely with key control functions, the company was able to streamline proof-of-concept operations, and conduct projects in blockchain, mobile first notice of loss, augmented reality for risk management, and more.
Martin Henley, XL Catlin’s CIO, explained: “We established our Digital team to investigate, trial and test new technologies, and where it makes sense, implement and scale some of those exciting applications to better meet the needs of our clients. A recent example is the launch of Insurwave, a blockchain platform for marine insurance which allows each party to automate insurance transactions. We are honored to receive this award from Novarica and to be recognized by our peers.”
“XL Catlin’s initiative was selected by our Council members as an example of how to manage innovation effectively, something many insurers continue to struggle with,” said Matthew Josefowicz, President/CEO of Novarica and moderator of the Council.
XL Catlin’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/.