The prestigious winners of InsuranceERM’s UK & Europe 2022 awards have been unveiled.
Phoenix Group won the risk team of the year for three successful and measurable achievements, including its integration of the newly acquired ReAssure business and harmonisation of the Standard Life and Phoenix Life internal models.
Aylin Somersan Coqui won the chief risk officer of the year accolade for being an inspirational leader, team builder and cross-functional guru at Allianz. The award also recognises her wider contribution to the insurance industry.
Renaud Guidée. chief risk officer of Axa Group, and chair of the Net-Zero Insurance Alliance, was the deserved recipient of the judges’ award for contribution to the industry, for his leadership on climate change risk.
The environmental, social and governance initiative of the year, a new award category, went to PCS, a Verisk business, for the way it is engaging and helping clients deal with the carbon consequences of catastrophe events.
Moody’s Analytics clinched the treble in this year’s awards: winning economic scenario generator software of the year; regulatory reporting software of the year; and Solvency II solution of the year.
Crowe deserves a special mention too, winning the risk consultancy title for the third consecutive year.
WTW’s achievements were also recognised by InsuranceERM’s expert judging panel. The company scooped climate risk management solution of the year and reserving solution of the year. It was also highly commended in the catastrophe risk modelling solution of the year category.
InsuranceERM's deputy editor and commercial editor, Ronan McCaughey, thanked the judging panel for their time and their expertise in choosing the winners, as well as everyone who submitted entries.
McCaughey said: “The InsuranceERM awards have become the Oscars of the insurance risk sector, so to win or be highly commended is great achievement because they are judged by a panel of independent insurance, risk and actuarial experts.
“In this post-Covid world, the standard of entries for this year’s awards shows the outlook for the insurance sector is bright because there are many exciting innovations happening, particularly in the ESG, risk modelling and cyber space.”
McCaughey also paid tribute to the individual winners of this year’s awards and the great teams who support them.
InsuranceERM thanks Arthur, a specialist insurance and financial markets recruitment consultancy, for sponsoring this year's awards.
The 2022 winners and highly commended are below:
- Risk team of the Year: Phoenix Group
- Actuarial team of the year: National House Building Council
- Cat risk team of the year: Aon, Impact Forecasting
- Risk innovation of the year: RMS
- ESG initiative of the year: PCS, a Verisk business
- Diversity and inclusion excellence: LCP
- Diversity and inclusion excellence, highly commended: OneFamily
- Insurance asset manager of the year: Conning
- Risk consultancy of the year: Crowe
- IFRS 17 consultancy of the year: Mazars
- Insurtech innovation of the year: YuLife
- Risk transfer innovation of the year: PCS, a Verisk business
- Chief risk officer of the year: Aylin Somersan Coqui, Allianz
- Chief risk officer of the year, highly commended: Tom Hughes, Domestic & General
- Judges' award for contribution to the industry: Renaud Guidée, Axa Group
- Young actuarial and risk professional of the year: Ivan Herboch, Scor
- Actuarial modelling solution of the year: Hymans Robertson
- Best use of cloud technology: Legerity
- Catastrophe risk modelling solution of the year: Reask
- Catastrophe risk modelling solution of the year, highly commended: WTW
- Climate risk management solution of the year: WTW
- Cyber risk solution of the year: Kovrr
- Data solution of the year: Moody’s
- End-user computing risk management solution of the year: Incisive Software
- ERM end-to-end solution of the year: Decision Focus
- Economic Scenario Generator software of the year: Moody’s Analytics
- IFRS 17 solution of the year: Legerity
- Operational risk solution of the year: The Analytics Boutique
- Regulatory reporting software of the year: Moody's Analytics
- Reserving solution of the year: WTW
- Solvency II solution of the year: Moody's Analytics
- Stress scenarios software of the year: CyberCube
How the awards were judged
Judges reviewed the submitted entry material 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.