MetLife Wins 2016 Novarica Research Council Impact Award for Data Initiative
More than 40 Insurer CIOs Voted to Select Award Winners from Case Studies Submitted by Insurers
September 19, 2016 (BOSTON) – The members of the Novarica Insurance Technology Research Council, a membership group of hundreds of insurer CIOs, have selected MetLife as the winner of this year’s Novarica Research Council Impact Award for a Data Initiative at a Large Insurer.
MetLife enabled real-time interactive views and aggregations of derivatives and risk data across multiple platforms. The ability to drill down across multiple scenarios reduced the desk’s time in consolidating data by 65% and enhanced their trading decision support.
This case study, along with dozens of other eligible cases, was published this spring in the Novarica Best Practices Case Study Compendium 2016, available at https://novarica.com/compendium2016/. It was selected as the winner in its category by insurer CIO members of the Council.
“The combined efforts of the business and IT on this project enabled us to drastically reduce the cycle time for these complex financial transactions,” said Lee Ann Murray, CIO for Investments IT. “That capability is significant, allowing us to respond in real time to market movements.”
“We congratulate MetLife on the peer recognition of their successful initiative,” said Matthew Josefowicz, president and CEO of Novarica, and lead moderator of the Research Council. “Since 2012, Novarica has published more than 150 case studies of insurer IT initiatives that drive business results, and the most impactful have been selected by our Council members for awards each year.”
About the Novarica Impact Awards
The Novarica Research Council Impact Awards are the largest purely peer-juried awards in insurance technology. Dozens of 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.
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. The Council is managed by Novarica, a research and advisory firm that helps more than 80 insurers make better decisions about technology projects and strategy. More information at https://novarica.com/council/
Novarica helps more than 80 insurers make better decisions about technology projects and strategy, through research, advisory services, and consulting on vendor selection, benchmarking, project assurance, and IT strategy. www.novarica.com