Pegasystems, a supplier of business process management (BPM) solutions, said that its client, Farmers Insurance Group, has been recognized as the 2011 Model Insurer of the Year by Celent, a research and advisory firm.
According to a release, Celent's annual award is given to organizations that most highly exemplify IT best practices and measurable business results.
In a new report, 'Celent Model Insurer 2011: Case Studies of Effective Technology Use in Insurance,' Celent recognized Farmers Insurance for leveraging Pega's Build for Change technology to revamp its customer service initiatives and First Notice of Loss (FNOL) application, known as HERO. The award, which recognizes excellence in technology best practices at insurers, marks the second time Farmers has been recognized for projects in which Pega's technology has played a key role (Farmers Small Commercial won a similar award in 2008).
The HERO application, which has driven more efficient claims handling times, higher customer satisfaction and shorter training times for Farmers employees, presents context-aware information to guide customers in filing auto claims. HERO, bolstered by Pega technology, triggers the right questions, gathers the right answers and integrates into the claim system itself so that all information becomes part of the case file.
Celent's recognition marks the third time Farmers has been commemorated this past year for its use of Pega technology. It recently won the Gold Award for North America as part of the annual Global Awards for Excellence in Business Process Management (BPM) and Workflow. It also won first place for enterprise systems in the INNovators Awards, a designation by trade magazine Insurance Networking News (INN) intended to advance the spread of business technology acumen in the insurance industry.
Farmers Insurance Group of Companies is one of the nation's largest insurers of both personal lines passenger automobile and homeowners insurance, and also provides a range of other insurance and financial services products. Farmers Insurance serves more than 10 million households with more than 20 million individual policies across all 50 states through the efforts of over 50,000 exclusive and independent agents and nearly 24,000 employees.
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