| Copyright: | Business Wire | | Source: | Business Wire | | Wordcount: | 1008 |
Business Editors
FRAMINGHAM, Mass. & JERSEY CITY, N.J.--(BUSINESS WIRE)--May 8, 2008--Financial Insights, an IDC company, andTech Decisions, a National Underwriter publication, released the annual “Voice of the Market” ranking for the insurance industry today. In the Insurer’s Choice 2008 Technology Ranking, insurance carriers in the United States and Canada ranked the top insurance technology providers across several categories including insurance operations, developing products, and/or optimizing workflow. Insurers were asked to name the technology firms that truly assist their varied operations across nine different application or business categories. These hardware, software or services companies, in both the life insurance (L/H) and property and casualty (P/C) markets, have proven their commitment to the industry through the voice of their own customers.
Financial Insights led the survey development, data collection and analysis for the rankings. The 2008 Insurer’s Choice Technology companies who ranked in the top three in each category are listed below. The number one provider in each category will receive a prestigious award at the annual recognition event at the ACORD LOMA Insurance Systems Forum in Las Vegas on May 14, 2008.
“ImageRight is especially pleased to have been selected to receive this award since the selection process was driven by executives from insurance organizations,” said Don Elias, president of ImageRight. “Many technology companies pay the idea of customer service lip service, but at ImageRight making sure customers are able to do business as quickly, efficiently and effectively as possible is our top priority. The quality of our technology offering aside, customer service is a big part of the reason ImageRight has so many raving fans.”
“Hundreds of technology firms claim to be ‘the best,’ ‘the leading,’ or ‘the only’ technology firm that can save or generate more money for insurance companies,” said Barry Rabkin, senior research analyst for Insurance Practice, Financial Insights. “In reality, many of these claims are close to impossible to fulfill. However, the Insurer’s Choice 2008 winners encompass a set of firms that North American P&C and L&H insurers state are important to their operations and their future. It’s another data point that insurance management should take into consideration as they decide which technology firms to keep or which new ones to bring into their corporation.”
“We’d like to congratulate all the companies ranked at the top of their categories in addition to the many others cited in the Insurer’s Choice survey,” said Sharon Schwartzman, editor in chief of Tech Decisions. “We hope this initiative will serve our readers as a supplementary source in the technology acquisition decision-making process.”
| | Insurer's Choice 2008 Technology Ranking
| | | | | Overall Winners (Across all categories)
| | | | P/C
| | | L/H | 1. ImageRight, a Vertafore Company
| | | 1. ImageRight, a Vertafore Company | 2. IBM
| | | 2. IBM | 3. Guidewire
| | | 3. Hyland Software, Oracle (a)
| | | | | Keep Businesses Operating
| | | | P/C
| | | L/H | 1. ImageRight, a Vertafore Company
| | | 1. IBM | 2. Guidewire, IBM (a)
| | | 2. ImageRight, a Vertafore Company | 3. CSC
| | | 3. Hyland Software | | | | | Keep Businesses Informed Through Analytics
| | | | P/C
| | | L/H | 1. Cognos, an IBM Company
| | | 1. Cognos, an IBM Company | 2. Business Objects, a SAP Company
| | | 2. Business Objects, a SAP Company | 3. Oracle
| | | 3. Not Applicable | | | | | Support Firm’s Distribution Channels
| | | | P/C
| | | L/H | 1. Microsoft
| | | 1. EZ Data, IBM (a)
| 2. DP Solution
| | | 2. Not Applicable | 3. IBM, IDP, Skywire (a)
| | | 3. Not Applicable | | | | | Help Maintain Financials & Accounting
| | | | P/C
| | | L/H | 1. Fiserv
| | | 1. Oracle | 2. SunGard iWorks
| | | 2. Fiserv | 3. Oracle
| | | 3. (No Winner) | | | | | Help Develop / Enhance Products
| | | | P/C
| | | L/H | 1. ImageRight, a Vertafore Company
| | | 1. (Tie for 1st) ImageRight, a Vertafore Company, Hyland Software | 2. Skywire Software
| | | 2. Skywire Software | 3. DP Solutions, IDP, IBM (a)
| | | 3. EMC | | | | | Help Provide Quality Customer Care
| | | | P/C
| | | L/H | 1. ImageRight, a Vertafore Company
| | | Not Available | 2. Guidewire
| | | | 3. IBM, IDP (a)
| | | | | | | | Help Optimize Workflow
| | | | P/C
| | | L/H | 1. ImageRight, a Vertafore Company
| | | 1. Hyland Software, ImageRight, a Vertafore Company (a)
| 2. Guidewire
| | | 2. Not Available | 3. CSC
| | | 3. Not Available | | | | | Firms Used for IT Outsourcing (ITO)
| | | | P/C
| | | L/H | 1. CSC
| | | Not Available | 2. ImageRight, a Vertafore Company
| | | | 3. HCL
| | | | | | | | Up-and-Coming Technology Firms
| | | | P/C
| | | L/H | 1. Guidewire
| | | Not Available | 2. ImageRight, a Vertafore Company
| | | | 3. SeaPass, Blue Cod Technologies, Skywire Software (a)
| | | | | | | | (a) Companies tied for position rank
| | | |
Barry Rabkin will be presenting these findings and providing additional commentary at the annual awards event on May 14, 2008. In addition Barry will be presenting at the Acord Loma event, May 13-15 2008, Las Vegas, Nevada, at a session titled "Insurance Pioneers In The Digital Marketplace." To set up a one-on-one briefing with Barry, please contact Deborah Stark, 508-935-4318, or email Deborah at dstark@idc.com. The full supplement is available on the Financial Insights website. To download a copy please visit: http://www.financial-insights.com/FI/services/insurerschoice.jsp.
About Financial Insights, an IDC Company
Financial Insights provides independent research, custom consulting, and detailed multiclient studies on the technology issues and challenges facing the financial services industry. Our global research covers topics of strategic importance to corporate and retail banks, insurance carriers, asset management firms, securities and brokerage firms. Our local practices in Asia Pacific, Europe, Latin America and Canada add an in-depth regional viewpoint. Financial Insights, an IDC company, is headquartered in Framingham, Massachusetts, USA. IDC is a subsidiary of IDG, the world’s leading IT media, research, and exposition company. Visit www.financial-insights.com for more information.
About Tech Decisions, a National Underwriter Publication
Jersey City, N.J. -headquartered Tech Decisions guides top-level insurance company IT and business professionals in managing their technology assets on a day-to-day basis and is a resource to help them select and purchase the right technology to achieve their business goals. Tech Decisions also offers product and service providers direct access to insurance company decision-makers. Visit: http://www.tech-decisions.com/ for more information.
About William Mills Agency
William Mills Agency was founded in 1977 and represents companies that serve the financial and technology industries. The Atlanta-based agency represents more than 70 companies throughout North America. For more information, call 678-781-7219 or visit www.williammills.com.
This is a news service of Thomson Business Intelligence Service ©2006. This content is for your personal use only, subject to Terms and Conditions. No redistribution allowed.
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