A.M. Best Works with Innovator’s Edge on Innovation Intelligence

OLDWICK, N.J.--(BUSINESS WIRE)-- In order to stay abreast with the continuous change in the insurance marketplace, A.M. Best has begun working with Insurance Thought Leadership and their Innovator’s Edge (IE) innovation intelligence platform. The IE platform (innovatorsedge.io) provides A.M. Best access to the best perspectives on innovation affecting the insurance industry and enables A.M. Best to deliver on its objective of providing the most reliable and accurate reflection of an insurers financial strength in a growing era of innovation-driven transformation.

A.M. Best believes the insurance industry is being transformed in many ways and that companies need to innovate to protect their ability to generate profitable business, and improve operational efficiencies and customer service.

Innovator’s Edge provides A.M. Best with information to improve its ability to introduce into the rating process an analysis of the extent to which insurers have shown themselves to be utilizing innovation to become stronger. Within the evaluation of business profile, A.M. Best believes that innovation is an important aspect of a company’s ability to protect its position in its key markets.

A.M. Best will be reviewing its Best’s Credit Rating Methodology to consider the inclusion of innovation in the assessment of a company’s business profile. This is another step by A.M. Best to constantly advance its rating analysis and provide a valued rating to insurance market constituents.

About AM Best

A.M. Best was founded in 1899 by Alfred M. Best with the mission to report on the financial stability of insurers and the insurance industry. It is the oldest and most widely recognized provider of ratings, financial data and news with an exclusive insurance industry focus. Ratings are issued on approximately 3,400 companies in more than 90 countries worldwide. Best's Credit Ratings are recognized as a benchmark for assessing a rated organization's financial strength as well as the credit quality of its obligations. A.M. Best produces dozens of products and services containing Best's Credit Ratings and related analysis. We cover 16,000 insurance companies globally through a wide range of analytical resources, references, directories and periodicals that provide insurance professionals and consumers with the critical information they need to make informed business decisions. A.M. Best has offices in the U.S., London, Hong Kong, Dubai, Mexico City and Singapore. View the company's history to learn more about its role in the global insurance industry. For more information, visit www.ambest.com.

About Innovator’s Edge

The Insurance Thought Leadership (ITL) technology platform, Innovator’s Edge, is a top destination for the insurance marketplace to gain critical insights and direct business connections with insurance technology entrepreneurs that are innovating across the insurance value chain. ITL also organizes executive events for insurance industry C-suite executives on innovation strategy, as well as innovation strategy workshops and coaching to guide companies on starting, managing and refining a successful innovation program that leads to business growth. ITL publishes thought leadership on insurance innovation and emerging technology, curating the best ideas from the brightest minds on its web site, http://insurancethoughtleadership.com/, and in a weekly email newsletter, Six Things. For information, contact ITL at [email protected].

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Source: A.M. Best