InsuranceERM is delighted to reveal the winners of its UK & Europe 2021 awards.
NFU Mutual won risk team of the year for the dynamic and engaging way it won hearts and minds to deliver its goal of building a single risk team.
The judges highlighted the holistic nature of NFU Mutual's "Pro-ACTIVE for 2020" project, which brought the mutual insurer's newly formed risk division together, as well as promoting staff welfare and energising the team.
Many of the entries to this year's InsuranceERM Awards naturally focused on how organisations and individuals have responded to the Covid-19 pandemic.
The winner of re/insurer of the year, Pacific Life Re, was no exception, and it was picked out by our judges for an exemplary demonstration of how to respond to the crisis.
Chief risk officer of the year went to Aurore Lecanon for her success in modernising Prudential International Assurance's risk function. NewRe's chief risk officer, Christian Dahmen, was highly commended in this category.
The Covid-19 Actuaries Response Group was the worthy winner of the judges' award for contributions to the industry. Its research and analysis – all done voluntarily and shared freely during the pandemic – has showcased the risk management and modelling skills of actuaries.
Argo Group scooped the corporate social responsibility initiative of the year – a new InsuranceERM award category – for developing a robust ESG strategy, addressing issues such as diversity and inclusion and gauging employee wellbeing during the Covid-19 pandemic.
Conning was the winner of climate risk management solution of the year. InsuranceERM's judging panel commended how Conning's climate risk reporting service gives users the flexibility to choose climate scenarios that are linked to scientific projections of global warming.
Moody's Analytics dominated the technology category and five categories including Economic Scenario Generator software of the year; Solvency II solution of the year; ERM end-to-end solution of the year; Regulatory reporting software of the year and Stress scenarios software of the year.
InsuranceERM's deputy editor and commercial editor, Ronan McCaughey, said: "This year's winners deserve great credit for the way they have taken risk and capital management innovation to the next level.
"The winners have gone above and beyond to help their clients and staff, while dealing with the Covid-19 crisis, the biggest stress test for generations."
McCaughey also thanked the independent judging panel for their valuable time and their expertise, as well as everyone who submitted entries.
InsuranceERM thanks Arthur, a specialist insurance and financial markets recruitment consultancy, for sponsoring this year's awards.
All the winners are below:
- Risk team of the year: NFU Mutual
- Actuarial team of the Year: EY
- Cat risk team of the Year: Aon, Impact Forecasting
- Longevity/Mortality team of the Year: Hymans Robertson
- Re/insurer of the year: Pacific Life Re
- Risk Innovation of the Year: PCS Cyber RLM
- Climate risk initiative of the year: Coalition for Climate Resilient Investment
- Corporate social responsibility initiative of the Year: Argo Group
- Diversity and inclusion excellence: LCP
- Insurance asset manager of the year: Aberdeen Standard Investments
- Longevity risk transfer deal of the year: LV=
- Risk consultancy of the year: Crowe
- Alternative capital dealmaker of the year: Securis
- Chief risk officer of the year: Aurore Lecanon, Prudential International Assurance
- Highly commended: Christian Dahmen, NewRe
- Young actuarial and risk professional of the year: Catherine Drummond, LCP
- Judges' Award for contributions to the industry: Covid-19 Actuaries Response Group
- Actuarial modelling solution of the year: FIS
- Analytics solution of the year: LCP
- Best use of cloud technology: PwC
- Digital transformation - insurtech solution of the year: Phinsys
- Catastrophe risk modelling solution of the year: Aon, Impact Forecasting
- Climate risk management solution of the year: Conning
- Cyber risk solution of the year: CyberCube
- Data solution of the year: Willis Towers Watson
- End-user computing risk management solution of the year: Milliman
- ERM end-to-end solution of the year: Moody's Analytics
- ESG (Economic Scenario Generator) software of the year: Moody's Analytics
- IFRS 17 solution of the year: Legerity
- Operational risk solution of the year: ViClarity
- Regulatory reporting software of the year: Moody's Analytics
- Reserving solution of the year: LCP
- Solvency II solution of the year: Moody's Analytics
- Stress scenarios software of the year: Moody's Analytics
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 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.