Union Assurance eMotor wins Celent Model Insurer Asia Award 2012

Union Assurance eMotorwon the prestigious Celent Model Insurer Asia Award 2012 for ‘product design/definition’. Model Insurer Asia Awards program is an initiative by Celent, to recognise the top insurance technology creativities in the Asia Pacific Region.

The award was presented at the Celent Model Insurer Asia Summit 2012, the Asian edition of the famous Model Insurer Awards that is held annually. Model insurer component is recognition of an insurer’s effective use of technology which assists in improving performance and thereby meeting market demands successfully.

Union Assurance General Manager IT Ruwan Bakmedeniya stated, “I am delighted that Celent has recognised the role Union Assurance is playing in setting up benchmarks in the area of driving technology to improve the insurance category. This award is a testimony to our efforts and commitment in driving respect, convenience and transparency in creating trust at all touch points, thereby raising the bar of our performance higher.”

Union eMotor was able to successfully demonstrate the ability to externalise product configuration, rating and underwriting to achieve flexibility and reduce time to market.

Some of the other award winners were global and large corporations such as China Continent P&C Insurance Co, HDFC Standard Life Insurance Co Ltd, Huatai Life Insurance Company Ltd, Prudential Life Insurance Company of Korea, PT Prudential Life Assurance, Tata AIG General Insurance Company Ltd and a few others.