This prestigious list spotlights 22 organisations that are breaking boundaries to rewrite the future of the insurance industry.
Online PR News – 16-November-2021 – Sydney, New South Wales – Southbank-based Honan Insurance Group has been included in the 5-Star Insurance Innovators 2021 awards released by Insurance Business. The report recognises the companies that are moving the insurance industry forward, whether by introducing new technology or rolling out a groundbreaking product or distribution channel strategy.
“Over the past year, the insurance industry has seen a host of fast and necessary changes. Amid the COVID-19-related challenges of lockdowns, travel restrictions, lack of face-to-face meetings and general uncertainty, insurance organisations have been forced to adapt to ensure they can continue to drive business growth and deliver the results their clients expect,” says the Insurance Business team. “Plenty of companies – from insurers to insurtechs, brokerages to claims managers – met these challenges head-on, engineering creative solutions to the problems they and their clients were facing.”
“Starting in July, IB invited insurers, brokerages and service providers from around Australia to submit a nomination, detailing the steps they’ve taken to introduce new innovations to the insurance industry. Companies were encouraged to focus on initiatives introduced and results achieved in the calendar year 2020. The IB team objectively assessed each entry for detailed information, true innovation and proven success – along with benchmarking against the other entries – to determine the 22 5-Star Insurance Innovators.”
Honan Insurance Group was the first business in Asia-Pacific to pilot and adopt Zoom’s fully integrated system for video, voice and call centres. That meant Honan already had remote communication tools set up and functioning several months before the COVID-19 lockdowns, which allowed for a seamless transition to remote working.
“These [tools] were critical for ensuring consistent communication, monitoring strategic performance, fostering connectivity and offering levity,” says Honan CEO Andrew Fluitsma. In addition, Honan became one of the first insurance brokers to have its own dedicated benefits platform and adopted workplace analytics tools to deliver insights and aid in decision-making.
For its clients, Honan adopted multiple analytics tools to allow large data sets to be analysed quickly and efficiently and to drive product and pricing solutions. Honan also leveraged its existing technology to create a bespoke claims and risk portal for a client that transforms 10 years of claims and incident data into big-picture trend analysis and loss forecasting.
To view the full report and to find out more about Honan Insurance Group click https://www.insurancebusinessmag.com/au/best-insurance/5star-insurance-innovators-313553.aspx.
Insurance Business is the leading independent business magazine and website for insurance brokers and advice professionals. A key business resource, Insurance Business provides daily breaking news, cutting-edge opinion and in-depth analysis affecting the industry. Insurance Business also offers a series of industry reports that recognize the achievements of key individuals and businesses as well as providing the latest in business best practice in a continually evolving industry. Part of the global Insurance Business suite of publications, IB reaches a wide readership in Australia, New Zealand, Asia, USA, Canada and UK.