MALVERN, Pa.--(BUSINESS WIRE)--The Institutes RiskStream Collaborative® is pleased to announce the 2023 recipients of its three prestigious insurance industry awards.
Chubb, Farmers, Liberty Mutual, Nationwide and W. R. Berkley Corporation are the winners of RiskStream Collaborative’s Leadership Award. Nationwide, Allstate and CSAA Insurance Group were chosen to receive the Collaborator Award, while Arbol, Centauri and Kaleido won the Innovator Award.
These awards recognize the winning organizations’ significant efforts to support a multitude of insurance-related projects and initiatives within RiskStream Collaborative throughout the past year.
The Leadership Award celebrates companies that have demonstrated outstanding commitment to RiskStream Collaborative by chairing its advisory board or sector advisory committees and supporting associated initiatives. It honors these companies for providing visionary leadership, dedication and collaborative spirit that have contributed significantly to the advancement and growth of emerging technology usage within the industry. These organizations and their leaders exemplify excellence in fostering cooperation and innovation and driving positive change, making them role models for the entire business community.
W. R. Berkley Corporation, which received the Leadership Award for its support of RiskStream Explores and the newly formed RiskStream Explores advisory committee, has played a major role in RiskStream’s governance initiatives. RiskStream Explores offers technology education, insurtech or solution-provider spotlights and exploration initiatives related to emerging technologies. RiskStream leverages the leadership and guidance of the RiskStream Explores advisory committee to examine various insurance use cases where innovative technology can have an impact.
W. Robert Berkley Jr., president and CEO of W. R. Berkley Corporation, remarked about winning the Leadership Award, “At Berkley, we are extremely proud to support RiskStream and its initiative to provide blockchain solutions that benefit the insurance industry. We are excited to be a member of the RiskStream Explores Committee because we believe education, experimentation, and partnerships with insurtechs will be central to blockchain gaining traction in our industry. It is an honor to receive the 2023 RiskStream Leadership Award, and we look forward to being a catalyst for RiskStream’s ongoing success.”
The Collaborator Award is bestowed on exceptional companies that exemplify the power of synergy and cooperation with RiskStream Collaborative. The 2023 recipients demonstrated extraordinary teamwork in applying their strengths and expertise toward advancing auto initiatives within the consortium.
Allstate was one of the three Collaborator Award winners. Clint Marlow, director of digital transformation, stated, “I am truly excited about the unparalleled opportunity to collaborate with RiskStream and its consortium of insurance carriers on auto insurance related solutions. Their innovative approach and ability to bring the industry together make them an ideal network facilitator to establish trust across peers in the P&C industry. Trusted, permissioned data exchange unlocks a host of future state opportunities.”
CSAA Insurance Group was another one of the three Collaborator Award winners. Debbie Brackeen, CSAA’s chief strategy and innovation officer, stated, “Receiving this award for our collaborative efforts is a true honor. RiskStream provides an invaluable platform that fosters a spirit of teamwork and support that helps make pioneering solutions possible. We look forward to continuing our active collaboration.”
Finally, the Innovator Award recognizes organizations that have demonstrated outstanding creativity and ingenuity within the insurance industry. RiskStream presented the 2023 award to Arbol, Centauri and Kaleido for their collective achievement in bringing the dRe application to production. Now live, dRe employs smart contract functionality to ensure accurate, shared comprehensive data and streamlines contract management for all parties. dRe won the 2023 Underwriting Innovation of the Year award from Insurance Insider, a prestigious honor and testament to these companies’ commitment to innovation.
All three RiskStream awards acknowledge collaborative excellence and collectively highlight creative and impactful contributions across the insurance industry. The RiskStream Collaborative celebrates these insurance organizations’ contributions and looks forward to another year of transformative advancements in the insurance industry.
For more information on the initiatives associated with these awards, please visit RiskStream.org.
About The Institutes RiskStream Collaborative
The Institutes RiskStream Collaborative® is the risk management and insurance industry’s first enterprise-level blockchain consortium that brings together experts and developers to advance insurance-specific use cases via Canopy, a custom blockchain architecture. The Institutes RiskStream Collaborative is committed to equipping organizations to work together to inspire product innovation, enable efficiencies, and open new technological frontiers.
About The Institutes
The Institutes are a global not-for-profit comprising diverse affiliates that educate, elevate, and connect people in the essential disciplines of risk management and insurance. Through products and services offered by The Institutes’ nearly 20 affiliated business units, people and organizations are empowered to help those in need with a focus on understanding, predicting, and preventing losses to create a more resilient world.
