9 July 2020News

Everest bags two tech awards from the Novarica Insurance Technology Research Council

Everest will receive two awards from the Novarica Insurance Technology Research Council, a peer community of hundreds of insurer chief information officers.

Two award winners are selected in each of four categories, covering projects focused on digital, data and analytics, core, and IT practice and infrastructure. Everest’s awards came in the digital and core categories.

For digital, Everest Reinsurance has been recognised for its platform to help automate business processes triggered by incoming emails by leveraging artificial intelligence-enabled technologies. The project, which was completed in less than a year, is credited with supporting over $5 million in premium growth and $3.5 million in efficiency gains across multiple areas of underwriting and claims.

In the core category Everest Insurance is recognised for creating a standard library of APIs to onboard new partners quickly and enable straight-through processing for common business transactions.

An additional Everest project for a global marketing dashboard was also featured in the Data category.

More than fifty CIO council members reviewed dozens of case studies to select the winners for the ninth annual awards.

Matthew Josefowicz, president and chief executive of Novarica and moderator of the Council, said: “Both of Everest’s winning submissions represent an impressive achievement and illustrate how large insurers can drive business value in multiple areas through automation and integration strategies.”

Terry Walker, global CIO at Everest Re Group, said: “By leveraging automation and AI as part of our business model, Everest is embracing the future of technology to find more efficient and effective ways to serve our clients and trading partners.”