Celent Presents 2022 Model Insurer Awards

Toggle named Model Insurer of the Year, 16 other companies recognized as leaders in five categories, representing nearly 100 applicants from 28 countries.

(Image source: Celent.) 

This week research and advisory firm Celent (Boston) presented its annual Model Insurer Awards at the annual Celent Innovation & Insight Week, recognizing Toggle, a Farmers Company (Los Angeles) as Model Insurer of the Year, as well as 16 other winners, representing nearly 100 applicants from 28 countries. The 16th annual Awards recognize insurance companies using best practices in five areas of accomplishment: Data & Analytics, Digital and Emerging Technologies, Customer Experience Transformation, Innovation Execution, and Legacy and Ecosystem Transformation.

Karlyn Carnahan, Head of Insurance, North America, Celent.

“Since our Model Insurer program started sixteen years ago, Celent has identified Model Insurers by looking at best practices in the use of technology across various areas of the industry—whether in components of the product and policyholder lifecycle or in theme areas such as digital, innovation, or legacy transformation,” comments Karlyn Carnahan, Head of Insurance, North America, Celent. “These areas were illustrated by case studies of specific initiatives and capabilities, selected from the many submissions received and presented in our annual Model Insurer reports.”

Carnahan notes vision for Celent’s Model Insurer research is to try to answer an apparently simple question: “What would it look like for an insurer to do everything right with today’s technology?” The question is not nearly as simple as it appears, she cautions, because the terms ‘everything’ and ‘right’ mean very different things to different insurers depending on their size, the complexity of their operations the product sets, and their technological starting points.

“This is the sixteenth year we’ve awarded recognition for model insurers, and I have to say, each year, the submissions get more and more impressive,” Carnahan adds. “This year we received almost 100 submissions across the different categories.. We also saw submissions from 28 countries. And we were excited to announce 17 winners plus award our Model Insurer of the Year Award.”

The full list of Model Insurer Awards is as follows:

Model Insurer of the Year

Toggle, a Farmers Company

Data & Analytics

Taiwan Life

FWD Insurance

Bulstrad Vienna Insurance Group

Digital and Emerging Technologies


Oman Insurance

Lincoln Financial Group

Customer Experience Transformation


NOW Insurance

Bupa Arabia


Innovation Execution

Cathay Life Insurance


Legacy and Ecosystem Transformation

West Bend Mutual

AIA Group Limited

Menora Mivtachim Insurance Ltd.


Opportunities for Enhanced Engagement in Group & Voluntary Benefits Insurance

Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at AnthODonnell@IIReporter.com or (503) 936-2803.

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