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Acord
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Allied World
Charles Taylor
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FWD
NIIT technologies
SCOR
Vitesse

SCOR Diversity and Talent Management Initiative of the Year

Talent and diversity have become key issues for the London market as it seeks to maintain its competitive position on the global stage.

This award recognises the organisation that has demonstrated a real commitment, creativity and innovation in harnessing the best talent.

The award can be for an individual initiative – such as a in relation to diversity or apprenticeships – or a wider programme of work.

Judges will be looking for evidence of the benefits or outcomes of the initiative or programme.

Insurers, re/insurers, brokers, industry associations or professional bodies can enter.

Sponsored by SCOR

SCOR_logo

MGA Initiative of the Year Award

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Managing general agencies (MGAs) are playing an increasingly important role in the market, providing new income streams for capacity providers and vehicles for innovative underwriters to bring new products to market.

This category is open to London market MGAs and service providers.

The award is for a successful initiative over the past year. This could include the launch of an MGA operation, or the introduction of a new line of business by an existing MGA. Innovative services to support the MGA market will also be considered.

The judges will be looking for evidence of:

  • Excellent underwriting performance
  • Outstanding service to carriers, brokers and policyholders
  • The ability to provide new income streams to capacity providers that they could not otherwise access
  • If a service, the business benefits to the MGA market

 

Sponsored by EC3/Legal

EC3_legal_logo

Adviser of the Year

Insurance_Day_Awards

Insurers cannot hope to escape the increased scrutiny facing the whole of the financial services industry.

Against this background the role of the professional adviser is becoming ever more central. This award seeks to reward the often overlooked contribution that professional advisers make to the insurance sector. It is open to any individual or organisation whose principal role is providing advice or service to the insurance industry.

The award’s scope includes lawyers, accountants, loss adjusters, claims professionals, rating agencies, IT providers and consultants. Our judges will be looking for entries that demonstrate a genuine understanding of the needs of the sector as a whole and have a proven record of promoting and improving the industry for the sake of participants and clients.

In particular the winning entry will show:

  • Relevance − to what extent does the service and advice help insurers and clients
  • Expertise − including evidence of how that expertise has helped clients and the industry
  • Success − details of notable achievements

Broking Team of the Year

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This award is designed to reward the most successful broking team of the year.

In particular this award seeks to highlight those teams that have broken new ground and moved into new markets through the application of innovative thinking. The business of broking never gets easier and the recent economic turmoil only emphasises that. With this award we seek to reward those broking teams that have shown that they can cope and prosper in the tough new environment and deliver value-adding solutions for their customers.

The criteria are as follows:

  • Profitability − Improvement in revenue growth, cost control and profit − how can this be demonstrated?
  • Growth − Development of existing and new business measured by fees and commissions − what types of new business have been developed and how does that fit with the grander corporate plan?
  • Innovation − New products and service − can you demonstrate that you have truly broken new ground?
  • Service − To both clients and carriers − can you show that you are really a customer-oriented team?

 

This category is not open to companies, but rather teams of individuals working within companies in the London market.

 

Advent logo

Claims Team of the Year

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This is a broad category open to insurers and reinsurers, but judges would also welcome joint entries from carriers and brokers.

 The winner will have shown a good track record for excellent claims handling skills or will have put in place a claims initiative which has benefited the customer and demonstrated innovation both in underwriting risk and dealing with claims.

The judges will focus on the skill of the claims paying process, including:

  • Transparency and service to the client
  • Speed of payment
  • Elimination of expense costs
  • Innovation in the claims paying process

 

This award is open to claims teams working in the London market.

Sponsored by Vitesse

vitesse_logo

Company of the Year

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This award is designed to recognise corporate achievement over the last 18 months.

It is open to London market companies and other undertakings involved in the insurance chain − insurer, reinsurer or intermediary.

This award seeks to reward companies that have truly made a mark during the period, primarily in the eyes of investors, policyholders and staff.

The criteria are as follows:

  • Profitability − Can a significant change in profits, particularly against analyst or investor expectations, be clearly demonstrated?
  • Growth − How has the company performed in its revenue generation and new business levels against expectations?
  • Investor returns − What has been delivered to investors over the period? If the company has a different structure (partnership, mutual etc.) how are returns measured and how has the operation matched up?
  • Market position − How has this changed in terms of leadership and new markets?

 

The entrants for this award must be London market operations. 

Industry Achiever of the Year Award

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This award is designed to reward an individual for making a real difference to the industry over the period, through leading a collective effort or making a series of outstanding individual contributions.

This award is for those individuals who have gone well beyond the call of duty and achieved a result for their company or industry body and the industry as a whole. This award particularly seeks to reward those who have taken on a big and challenging project and made it work.

We seek to reward those individuals who have:

  • Made a big difference for the good of the sector as a whole;
  • Sacrificed hours and effort to make it work without immediate or even personal reward;
  • Shown a real commitment to the long-term health of the industry to maintain and further its wider and positive role in the economy and society.

 

This award is only open to individuals.

Sponsored by Allied World

Allied_World_Logo

NIIT Insurance Initiative of the Year

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Innovation thrives in difficult economic times, so we are expecting some strong entries in this category that encompasses fresh thinking in product, service and delivery.

The insurance world has faced numerous challenges over the years to stay ahead of the game. But in many instances it has coped manfully and this award seeks to reward the innovation displayed by insurers, reinsurers, brokers or service providers in achieving excellence to meet the needs of their clients.

The award will recognise the initiative that redefines the industry’s competitive landscape and raises the bar for customers’ or partners’ expectations.

The criteria are as follows:

  • Open to any player in the insurance industry including (insurers, brokers, loss adjusters)
  • Entries should demonstrate the creation of a genuinely new and customer-focused way of conducting business, whether it be a completely new product, or service; or a marked improvement to an age-old practice
  • The judges will be looking for evidence of how this initiative is innovative, both in terms of the solution as well as in its use within the business
  • The winner will be able to show how this initiative redefined the business process, improved the practice and strengthened the overall operations of the organisation.

 

Sponsored by NIIT

niit_tech_logo

Lifetime Achievement Award

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The skill and enthusiasm of individuals has underpinned the 300-year-plus successful history of the London insurance market. Uniquely not just among financial services, but among industry generally, the insurance industry thrives on co-operation between competitors. Because of the importance of relationships within the London market there is enormous scope for individuals to affect the way business is done.

The history of the London market resounds with iconic individuals who blazed a trail ensuring that London established itself as the centre of global insurance and more recently retained that title in the face of competition from new jurisdictions. That continues to this day and that it is the long-term contribution to the London market by individuals that we are looking to recognise with this award.

  • The winner will have demonstrated a career-long commitment to improving the running of the London Market that goes beyond to day-to-day fulfilment of their responsibilities
  • Crucially judges are looking for entries and nominations detailing the work not just of the market’s big names, but also those that have worked tirelessly behind the scenes for their careers and whose commitment − perhaps not always appreciated − deserves recognition
  • The award will encompass all facets of the London markets eclectic range of functions from broking and underwriting, through regulation, legislation, claims handling, IT and consulting.

Newsmaker of the Year

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Insurance Day’s role as the only daily newspaper for the international insurance and reinsurance sectors puts it in a unique position to inform and delight its readers with news and insight all day every day.

Over the course of the year we bring you hundreds of stories, providing context and insight that helps you navigate the tides of the insurance cycle and wider economic eddies. But which of those news stories has had the most profound impact on the London insurance market during 2017?

This year Insurance Day will give guests at the London Market Awards Dinner the chance to decide. Voting will take place at the awards ceremony – so you can have your say!

Rising Star of the Year Award

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London's reputation has been built up over the course of centuries, but for this award we are looking for the stars of the future.

They will have a good knowledge and understanding of the successes of the past − and the failures − but more importantly will have an appetite for innovation to address the developing needs of the 21st century market place. The winner of this award will be an individual − under the age of 35 − working as an underwriter or broker in the London or Lloyd’s market who demonstrates:

  • Excellent understanding of the underwriting or broking process
  • Enthusiasm for the London market
  • Outstanding service to clients
  • The ability to solve complex problems
  • A flare for innovation
  • Leadership skills and the ability to work as a team player

This award will be given to an individual who has met these criteria through work carried out for a specific project or a series of projects that can be measured by the judges.

The category is open to individuals under the age of 35 on 1 December 2016.

Technology Initiative of the Year

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This award recognises the company making the most innovative use of technology in designing, developing and delivering an industry-leading solution that enables significant business value.

The award recognises the initiative that redefines the industry’s competitive landscape and raises the bar for customers’ or partners’ expectations. The award may be for a system developed in-house or purchased, a business process outsourcing solution or a combination of these elements.

The criteria are as follows:

  • Innovation − Describe this initiative, both in terms of the solution as well as its use within the business
  • Process − Describe how this initiative redefined the business process, improved the process and strengthened the overall operations of the organisation
  • Business Value − Describe the specific results, ROI and business value of the initiative including cost savings, speed to the market, improved services levels, increased revenue and profit that are directly attributed to this initiative
  • Industry Impact − Describe how this initiative has impacted the organisation’s industry standing relative to technology, innovation and leadership

This award is open to companies, individuals or teams from within the London market.

Sponsored by ACORD

Acord logo

Transaction of the Year

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This award will go to the team, or group of teams responsible for structuring the most impressive transaction of the year in the eyes of the judges. 

The transaction must involve companies or vehicles where the primary focus is the transfer or financing of risk. While the judges are keen to see submissions on risk transfer or financing transactions, they will also consider corporate deals including mergers and acquisitions.

The winner will stand out by:

  • Showing innovation through a particular transaction, deal or partnership;
  • Demonstrating why the deal was one that really made the market sit up and take notice.

 

Examples could include utilisation of capital markets, an acquisition or a capital-raising initiative.

Sponsored by FWD

FWD_logo

Underwriting Team of the Year

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This award is designed to reward the most successful underwriting team of the year. The size of the team does not matter.

Insurance Day is looking for those teams that have achieved the remarkably difficult task of achieving growth in profitability while at the same time delivering quality of service and improved results for customers.

The criteria are as follows:

• Profitability − Improvement in underwriting profit, combined ratio, operating profit − how can this be demonstrated and what drove the success?

• Innovation − New and ground-breaking products and service − what innovation has been managed and why was it worth the effort? Does it have an industry-wide application?

• Service − Have you enhanced your reputation and actually delivered?

This category is only open to teams of individuals who work within an underwriting operation in the London market.


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For any questions relating specifically to the Insurance Day London Market Awards, please contact Natalia Kay.

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Ensure success by reading through our entry guide. This guide includes:

  • Top tips for entering
  • How to make your submission stand out
  • Full category guide and criteria

 

Download entry guide >