Strategy Meets Action Announces the 2014 SMA Innovation in Action Award Winners

BOSTON, Sept. 15, 2014 /PRNewswire/ -- Strategy Meets Action (SMA), a leading insurance advisory firm, announced the winners of the SMA Innovation in Action Awards during its annual SMA Summit at the Mandarin Oriental Hotel in Boston. The 2014 winners in the insurer category were AssureStart, ingenie, and Privilege Underwriters Reciprocal Exchange (PURE). The winner in the IT solution provider category was EagleView® Technologies for their Risk Visualization Solutions (RVS).

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"Each year we receive an impressive number of high quality submissions, and 2014 was no exception. Insurers and solution providers are solving real business problems and addressing needs though innovative thinking and effective implementations," said Karen Furtado, SMA Partner. "The number of unique and powerful solutions we reviewed illustrates that innovation is pervasive across our industry and that insurers are positioning to be successful as Next-Gen Insurers. We congratulate all of the winners and nominees on their forward progress and success."

The SMA Innovation in Action Awards are presented each year to celebrate innovation in the insurance industry. SMA launched this award program to inspire, share, and recognize solutions that enable an insurance company to move beyond modernizing and optimizing to real innovation and transformation, ultimately creating differentiation and competitive advantage. The program spotlights both insurers and solution providers that have successfully implemented solutions that best leverage next generation technologies as well as transformational projects or services that deliver game-changing business capabilities.

AssureStart received recognition as an SMA Innovation in Action Award winner for implementing a direct-to-small business insurance company that has an infrastructure that is completely cloud- based. Through an innovative use of technology built upon a modern flexible platform, AssureStart enables small business owners to purchase a Business Owner Policy online in less than five minutes and have immediate online access to their Declarations Page and Certificate of Insurance.

SMA Innovation in Action Award winner ingenie provides young drivers with pay-how-you-drive insurance services built upon telematics. They began offering services in the UK, and in 2014 they extended operations to North America. ingenie lets young drivers take responsibility for how they drive as well as how much they pay for insurance. By treating young drivers as individuals and rewarding them for driving well, ingenie is creating safer drivers.

With the expansion and enhancement of self-service member portals, Privilege Underwriters Reciprocal Exchange (PURE), a specialist insurer that serves high net worth families, provides its members with access to important policy documents and billing information, and enhances the claims process through real-time information aggregation. They leveraged several innovative technologies, including data aggregation from modern core policy and claims systems into a data warehouse, cloud technology, agile methodology, and a responsive design to meet and exceed member needs.

EagleView Technologies, the winner in the IT solution provider category, provides an innovative solution for property inspection. Risk Visualization Solutions (RVS) utilizes Pictometry® Intelligent Imagery® to provide high definition aerial imagery and subsequent imagery measurements and data, which are then combined with public record data to give carriers the ability to receive and view large quantities of single property change analysis and imagery for claims and underwriting.

The insurance company award winners were selected by the partners at SMA. The SMA Insurer Forum, an established community of insurance decision makers and influencers, selected the IT solution provider award winner. The SMA Summit, where participants were given a unique opportunity to experience and explore how next generation technologies have been and can be used across all aspects of the insurance business, provided the perfect opportunity to distinguish those that have demonstrated exemplary innovation.

Inquiries for additional information about the award program or the 2014 winners should be directed to Karen Furtado, SMA Partner, at [email protected].

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About Strategy Meets Action
Exclusively serving the insurance industry, Strategy Meets Action (SMA) blends unbiased research findings with expertise and experience to deliver business and technology insights, research, and advice to insurers and IT solution providers. By leveraging best practices from both the management consulting and research advisory disciplines, SMA takes a unique approach – offering an unrivaled set of services, including retainers, research, consulting, events, and innovation offerings. We are dedicated to helping the business of insurance modernize, optimize, and innovate for competitive advantage.

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