PHILADELPHIA, April 19, 2016 /PRNewswire/ -- Westchester, a Chubb company, has won the 2016 Celent Model Insurer Award for its innovative online small business underwriting platform, Westchester Solutions Fast Track.
Westchester Solutions Fast Track was developed in 2014 as a flexible online solution covering all stages of the underwriting process for small business agents and brokers: producer submission front-end, underwriting, rate, quote, issue (no binder needed), service, renew, workflow management, and product management for 17 products and hundreds of classes. Fast Track supports Westchester's Commercial Specialty, Professional Liability and Umbrella products.
"Westchester's clear business vision to develop an innovative solution undeniably embodies the 'model insurer' qualities we seek to recognize with our annual awards," said Colleen Risk, a senior analyst at Celent. "Legacy technology can hinder insurer innovation, and Westchester's commitment to modernizing their internal systems, with assistance from leading technology vendors Accenture and Cognizant, has resulted in a more efficient and accurate producer experience."
"We are extremely pleased to receive such a coveted award that recognizes our ability to offer a uniquely differentiated product in the marketplace," said David Lupica, Chief Operating Officer, Westchester. "The intuitive, easy-to-use online portal allowed us to support a high number of smaller-premium policies and bring cost-effective underwriting to a whole new class of small businesses. This award recognizes the dedication that Westchester has to developing and utilizing technology to serve our clients in the best way possible."
The Celent Model Insurer Award recognizes top technology initiatives in the insurance industry each year. Case studies of this year's winning technologies were presented at Celent's Innovation & Insight Day on April 13, 2016 in New York City. The cases represent key themes that Celent sees in the insurance industry today, including legacy and ecosystem transformation; digital and omnichannel technologies; innovation and emerging technologies; data mastery and analytics; and non-core implementation best practices. Westchester Solutions Fast Track won in the legacy and ecosystem transformation category.
Westchester is one of the largest and most diverse excess and surplus lines commercial property and casualty insurance companies in the United States. Focused on the wholesale distribution channel, Westchester provides innovative specialty products for property, specialty casualty, environmental, professional risk, inland marine, product recall, small business, binding and programs. The business is further distinguished by exceptional financial strength, underwriting excellence and superior claims handling expertise. Westchester is a company of Chubb, the world's largest publicly traded property and casualty insurer. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information on Westchester can be found at: www.acewestchester.com. Additional information on Chubb can be found at: new.chubb.com.