The Co-operators has been named the Canadian Analytics Carrier of the Year by Nexus Insurance at the Insurance Analytics Canada Awards. The award, which was presented as part of the Insurance Analytics Canada Summit in Toronto, acknowledges the insurance company that has made the biggest advances in implementing analytics in its business.
The business intelligence team at The Co-operators was created in 2011 with just two employees. Given its success in helping the insurer work smarter, the organization continued to invest in this area and the team grew to its current size of 70 business intelligence professionals. Its work was instrumental as The Co-operators became the first insurance company in Canada to offer homeowners comprehensive flood insurance coverage in 2015. Other areas of focus include the development of self-service analytics, usage-based insurance, the internet of things and price optimization, among other things.
“New technologies and the availability of data are changing insurance in a fundamental way, and this award recognizes our achievements in creating a data-driven organization,” said Carl Lambert, vice-president, national P&C business intelligence at The Co-operators. “Our accomplishments to date have been made possible by a team of incredibly talented business intelligence professionals and a leadership group with the foresight to make wise investments in this aspect of the business.”
The award ceremony brought together more than 200 people from leading insurers and service providers to recognize ground-breaking achievements in data and analytics. Expert judges evaluated entries based on how the companies have challenged the norms of the industry and pushed conventional boundaries.
About The Co-operators:
The Co-operators Group Limited is a Canadian co-operative with more than $40 billion in assets under administration. Through its group of companies it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is listed among the Best Employers inCanada by Aon; Corporate Knights’ Best 50 Corporate Citizens in Canada; and the Top 50 Socially Responsible Corporations in Canada by Sustainalytics and Maclean’s magazine. For more information visit www.cooperators.ca.
SOURCE The Co-operators