Winners of the InsuranceERM UK & Europe 2024 awards revealed

The prestigious winners of InsuranceERM's UK & Europe 2024 awards can be revealed.

These awards recognise the best in insurance risk management and the finest actuarial and risk modellers, as well as leading technology vendors, service providers and consultancies.

Generali won re/insurer of the year in recognition of its strong operating performance, excellent approach to risk management, and its commitment to sustainability and reducing the protection gap.

MS Amlin's chief risk officer (CRO), Vishal Desai, scooped the CRO of the year award. While he is relatively new to the role, the award recognises he has already made a significant impact on MS Amlin's business. In addition, Desai has quickly grown into an industry thought leader on risk management practices, as well as wider industry topics such as diversity, equity and inclusion.

Axa Health was the winner of the risk team of the year award. Its recently formed team of 20 full-time employees has played a pivotal role in driving enhanced risk and conduct maturity across the entire organisation. The team embarked on a transformative journey in 2023, simplifying the insurer's risk profile and prioritising actions on a narrower selection of risks.

This year's young actuarial and young risk professional of the year went to Jessica Snowball and Megan Hart from the actuarial consultancies LCP and Hymans Robertson, respectively.

In the technology categories, it was a very successful year for Moody's RMS and Moody's Analytics, which won catastrophe risk modelling solution of the year, economic scenario generator software of the year and stress scenarios software of the year, respectively. 

Moody's also won a new category in this year's awards, which is very much a hot topic, best use of artificial intelligence in risk management.

Milliman secured a treble, winning analytics solution of the year, IFRS 17 solution of the year and regulatory reporting software of the year.

Crowe UK also knows what it takes to be successful – as highlighted by this being the fifth consecutive year it has won the risk consultancy title in the InsuranceERM UK & Europe awards.

InsuranceERM's deputy editor and commercial editor, Ronan McCaughey, thanked the independent panel of judges for their time, effort and expertise in selecting the winners, as well as everyone who submitted entries.

McCaughey said: "As we celebrate these remarkable individuals, teams and companies, let us not only applaud their success, but also draw inspiration from their passion and determination.

"They remind us that greatness is not achieved overnight, but is the result of dedication and a relentless pursuit of excellence.

"Congratulations to all this year's winners and the great teams and individuals that support them."

InsuranceERM thanks Arthur, a specialist insurance and financial markets recruitment consultancy, for supporting this year's awards.

The 2024 winners are below:

Individuals

• Chief risk officer of the year: Vishal Desai, MS Amlin
• Young actuarial professional of the year: Jessica Snowball, LCP
• Young risk professional of the year: Megan Hart, Hymans Robertson

Teams

• Risk team of the year: Axa Health
• Actuarial team of the year: OneFamily
• ALM team of the year: abrdn
• Cat risk team of the year: Aon Impact Forecasting

Companies

• Re/Insurer of the year: Generali
• Actuarial consultancy of the year: LCP
• Diversity and inclusion excellence: LCP
• Insurance asset manager of the year: Conning
• Risk consultancy of the year: Crowe UK
• IFRS 17 consultancy of the year: RNA Analytics
• Pension risk transfer innovation of the year: Barnett Waddingham
• Managing General Agent of the year: Corvus Insurance

Technology

• Actuarial modelling solution of the year: FIS
• Analytics solution of the year: Milliman Mind
• ALM solution of the year: Conning
• Best use of artificial intelligence in risk management: Moody's
• Best use of cloud technology: WTW
• Catastrophe risk modelling solution of the year: Moody's RMS
• Cyber risk solution of the year: CyberCube
• Data solution of the year: Aon Impact Forecasting
• End-user computing risk management solution of the year: Phinsys
• ERM end-to-end solution of the year: ViClarity
• Economic Scenario Generator software of the year: Moody's Analytics
• IFRS 17 solution of the year: Milliman Mind IFRS 17
• Insurtech innovation of the year: McKenzie Intelligence Services
• Operational risk solution of the year: Decision Focus
• Regulatory reporting software of the year: Milliman Vega
• Reserving solution of the year: Dynamo Analytics - Psicle
• Risk innovation of the Year: Previsico
• Solvency II solution of the year: Zenith Actuarial
• Stress scenarios software of the year: Moody's Analytics
• Third-party risk solutions provider of the year: Decision Focus

How the awards were judged

Judges reviewed the entry material submitted and then voted in a secret ballot. The votes were counted and verified by InsuranceERM's team.

The panel of judges are senior risk, insurance and actuarial industry experts from Europe and the UK, each chosen for their knowledge and objectivity.

The judges' decision is final and neither InsuranceERM nor the judging panel will enter into any correspondence regarding individual entries and/or the award winners.

This year's InsuranceERM UK & Europe 2024 awards are supported by:

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