Research and advisory company Gartner has announced the winners of its annual innovation award, recognizing two insurance companies for this year.
Finalists to the 2018 Gartner Eye on Innovation Award presented their case studies during the Gartner Symposium/ITxpo. Competitors must have made “innovative use of digital technology-enabled capabilities, products or services to highlight ‘best-in-class’ financial industry initiatives” within the last 12 months, a release said.
Allstate is one of this year’s “Gartner Eye on Innovation Award” recipients for partnering with a major ride-sharing innovator to provide commercial insurance coverage. To meet the ride-sharing company’s needs, Allstate formed a small team of business and technology associates that developed an application programming interface (API).
Developed in 21 days, Allstate’s platform secured B2B connectivity between the ride-sharing company and the insurer while opening doors to new commercial auto policy types using the same platform.
Liberty Mutual was the other insurance winner in Gartner’s awards. The insurer built a digital assistant into its integrated employee platform, simplifying the workflow experience of its employees. The assistant includes a chatbot that answers employees’ questions – saving them from having to sift through multiple documents and resources.
According to a release, the technology has saved each Liberty Mutual employee more than five minutes of productivity per week. With 50,000 employees currently with Liberty Mutual, the insurer’s AI assistant has generated $6 million worth of reclaimed productivity.