BUFFALO, N.Y., July 8, 2020 – Merchants Insurance Group has been selected as an “Impact Award” winner by Novarica Insurance Technology Research Council.
The council, a peer community comprised of insurance industry Chief Information Officers (CIOs), gave the company the award based on a case study Merchants conducted regarding an integrated online quoting system for a new line of business. The new system, developed over two years, led to a 250% growth in completed quotes and enabled straight-through processing.
“We are honored to be recognized by Novarica for this award,” said Stephen Cross, Vice President and CIO for Merchants. “Merchants Insurance Group is committed to innovation that improves the ease of doing business with our independent insurance agents.”
“Thank you to Novarica for this prestigious award,” said Charlie Makey, Senior Vice President-Insurance Operations. “We are very excited to introduce this leading edge quoting platform for our independent agents. This new quoting platform is the foundation of our digital transformation to reduce the steps in our quoting process and improve speed to market for all of our online products.”
The Novarica Insurance Research Council Impact Awards are the largest peer-juried awards in insurance technology. More than fifty CIO council members reviewed dozens of case studies to select the winners for the 9th annual awards. 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.
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, strategic consulting, and special programs. More information may be found at https://novarica.com/