The winners of the InsuranceERM Americas 2021 Awards can now be revealed.
US life insurer Talcott Resolution won risk team of the year for the way it navigated a multitude of perils in 2020, as well as its forward-thinking approach to risk management.
Paul Mozak, chief risk officer (CRO) at Blue Cross Blue Shield of Michigan (BCBSM), scooped the CRO of the year award for his work in building BCBSM's enterprise risk management (ERM) function and helping to drive the provider's growth.
Young risk professional of the year went to Alex Mican, director for specialty lines product development at PCS, a Verisk business. Mican contributed to the industry's knowledge on Covid-19 and basis risk from publicly available data at a time when some of the most important loss information could not come through normal channels.
Many of this year's entries naturally focused on how their organisations and individuals responded to the Covid-19 pandemic.
For example, Verisk with its analytics arm AIR Worldwide, launched a projection tool that provided Covid-19 case and death projections worldwide.
This work led InsuranceERM's judging panel to award AIR Worldwide risk innovation of the year.
In arguably the most pressing issue facing the world now, Conning was the winner of the climate risk initiative of the year. It's climate risk analyzer solution helps insurers to track the impact of climate scenarios on their asset portfolio covering a range of assets.
Conning also won the insurance asset manager of the year award.
Willis Towers Watson's expertise was recognised by the judging panel by winning three awards: actuarial modelling solution of the year, analytics solution of the year and risk consultancy of the year.
Moody's Analytics dominated the technology category, winning four categories: ERM end-to-end solution of the year; ESG (Economic Scenario Generator) software of the year; LDTI solution of the year; and Stress scenarios software of the year.
InsuranceERM's North America editor, Sarfraz Thind congratulated all the winners.
"This year's winners have displayed initiative and perseverance in dealing with the new risks that have arisen in the last year. Under a changed landscape, heart and creativity are what will drive the industry forward," said Thind.
Thind also thanked the judges for giving up their valuable time and sharing their expertise, as well as everyone who submitted entries.
The full list of InsuranceERM Americas Awards winners for 2021 are below.
How the awards were judged
Judges reviewed the submitted entry material and then voted in a secret ballot. Votes were counted and verified by InsuranceERM's team.
All judges are senior industry experts from re/insurers across the Americas, 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.
Individual and team
- Risk team of the year: Talcott Resolution
- Chief risk officer of the year: Paul Mozak, Blue Cross Blue Shield of Michigan
- Young risk professional of the year: Alex Mican, PCS, Verisk
- Alternative capital deal-maker of the Year (ILS/collateralised reinsurance): PCS, Verisk
- Climate risk initiative of the year: Conning
- Insurance asset manager of the Year: Conning
- Risk innovation of the year: AIR Worldwide
- Risk consultancy of the Year: Willis Towers Watson
- Actuarial modelling solution of the year: Willis Towers Watson
- Analytics solution of the year: Willis Towers Watson
- Catastrophe risk modelling solution of the year: RMS
- Cloud technology solution of the year: Milliman
- Cyber solution of the year: BitSight-Kovrr
- Data solution of the year: PCS Cyber RLM, Verisk
- ERM end-to-end solution of the year: Moody's Analytics
- ESG (Economic Scenario Generator) software of the year: Moody's Analytics
- LDTI solution of the year: Moody's Analytics
- Operational risk solution of the year: Incisive Software
- Regulatory reporting software of the year: FIS
- Stress scenarios software of the year: Moody's Analytics