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American International Group Inc., ProspX Inc. and Stealth Monitoring Inc. have been named this year's Entrepreneurial Insurance Award winners.
Finalists for the awards, which were announced Thursday, were chosen from among more than 100 entries by member of the Entrepreneurial Insurance Alliance. Six finalists competed in a “shark tank” presentation at MarketScout's Entrepreneurial Insurance Symposium 2012 in Dallas last week, where they gave brief presentations and fielded rapid-fire questions from a panel of industry experts, including representatives of previous winners.
“The shark tank enables hundreds of companies to submit their innovative ideas to the Entrepreneurial Insurance Alliance,” said Richard Kerr, CEO of Dallas-based electronic insurance exchange MarketScout.
“It's working,” he said. “Insurers, intermediaries and technologists are converging at the EIS to share innovative ideas which will make our industry better. Finally, the insurance industry has a common platform for launching new concepts, ideas and upstart companies.”
AIG won for its ReputationGuard insurance solution, which provides broad coverage grants to help policyholders cope with reputation threats, especially those that are hard to predict.
ReputationGuard delivers its protection through a combination of proactive mitigation coverage and reputation event response coverage, each covering crisis communication costs incurred through our panel of experienced public relations communications experts. Coverage includes consultation, monitoring, mail, advertising and other communications costs recommended by panel experts in response to actual and anticipated publicity that is potentially damaging to reputation or brand value.
Austin, Texas-based ProspX was recognized for its ProspX InsiderConnect, the first electronic marketing platform to deliver custom insurance industry, line-of-business, and carrier specific news that matches to specific new and renewal opportunities in an agent's or broker's sales pipeline. The content is delivered via a custom-generated e-newsletter, enabling agents and brokers to share the critical intelligence with current and prospective clients. The careful tagging and matching of content ensures that only the most relevant and meaningful content is delivered.
Dallas-based Stealth Monitoring won for its video management system and analytics engine. The system allows live monitoring of properties through a video surveillance system, thus preventing such crimes as theft and breaking and entering, while reducing security costs. The company monitors properties through more than 3,300 cameras every night.
Business Insurance is a media sponsor of the symposium.
DALLAS — A 100% combined ratio isn't what it used to be for property/casualty insurers, the president of the Insurance Information Institute Inc. said last week.