Palo Alto, CA, April 18, 2016- Pacific Specialty Insurance Company has been recognized by Celent as a Model Insurer for operational excellence in their work to transform their legacy systems and infrastructure. Celent is a global research and advisory firm for the financial services industry.
Celent’s annual award recognizes the best practices of technology usage in different areas critical to success in insurance. During a rigorous evaluation process by Celent analysts, nominations are reviewed for achievements in the strategic development, degree of innovation, and business and customer impact. Judged on three core criteria, initiatives must be live and delivering demonstrable business benefits, the degree of innovation relative to the industry and for the quality of the technology or implementation excellence.
“Receiving this award is a true testament and validation to our transformation activities across the organization. We are positioning Pacific Specialty Insurance to become a virtual insurance carrier and by doing so, technology is the cornerstone of this strategy,” said Jim Lee, chief information officer of Pacific Specialty.
According to Colleen Risk, Senior Analyst at Celent, “Pacific Specialty is recognized for how they are using technology to change the face of insurance. Insurers are looking for strong examples of best practice implementations that have a truly meaningful impact on business results and the industry overall. The nomination for Pacific Specialty clearly demonstrated this.”
Pacific Specialty is a leading residential property carrier based in Palo Alto, CA.
Topics Carriers Excess Surplus
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