MILWAUKEE, Oct. 19, 2016 /PRNewswire/ -- Northwestern Mutual has been awarded the 2016 Eye On Innovation Prize for Most Innovative Digital Business Model in Financial Services by Gartner, a leading global technology consultancy, at its 2016 Symposium/ITxpo on Sunday, October 16.
"This award reflects the way both our employees and our financial representatives have built a culture of innovation, and transformed the way we do business," said Karl Gouverneur, Northwestern Mutual vice president and chief technology officer.
The award recognizes the leadership Northwestern Mutual has demonstrated in building a comprehensive digital innovation program and fostering a culture of innovation that engages the company at every level. That culture has created an environment that allows Northwestern Mutual to, among other things, rapidly develop and deliver new financial planning and management tools that deliver a distinctive and engaging client-advisor relationship.
"Digital innovation is key to providing an outstanding experience to our clients, and we're committed to meeting their needs," Gouverneur added.
The initiatives that Gartner reviewed that drove this recognition for Northwestern Mutual include:
- The Enterprise Venture Fund, an internal capital fund that solicits innovative concepts from and ultimately voted on by employees across the company – providing funding for further research and development to the ideas most promising.
- Two-day rapid development hackathons that bring together teams of developers and business partners to ideate, build, test and refine new applications to improve Northwestern Mutual's business practices.
- Tiger teams that pair application development teams with Northwestern Mutual financial representatives around the country to identify areas where digital solutions can add value and then embark on rapid-development exercises to create, test, adjust and deliver working prototype solutions.
Summing up the award, Gouverneur notes, "Our digital innovation capability allows all of Northwestern Mutual to not just participate in the digital revolution transforming our industry, but to lead and direct change yet to come."
For more information on the 2016 Eye on Innovation awards, visit http://www.gartner.com/technology/eye-on-innovation-awards/financial-services/
For more information on the Gartner Symposium/ITxpo, visit http://www.gartner.com/events/na/orlando-symposium
For more information on Gartner, visit www.gartner.com.
About Northwestern Mutual
Northwestern Mutual has been helping families and businesses achieve financial security for nearly 160 years. Our financial representatives build relationships with clients through a distinctive planning approach that integrates risk management with wealth accumulation, preservation and distribution. With $238.5 billion in assets, $27.9 billion in revenues and more than $1.6 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.3 million people who rely on us for insurance and investment solutions, including life, disability income and long-term care insurance; annuities; trust services; mutual funds; and investment advisory products and services. Northwestern Mutual ranks 100 on the 2016 FORTUNE 500, and is recognized by FORTUNE as one of the "World's Most Admired" life insurance companies in 2016.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI, and its subsidiaries. Northwestern Mutual and its subsidiaries offer a comprehensive approach to financial security solutions including: life insurance, long-term care insurance, disability income insurance, annuities, life insurance with long-term care benefits, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company (NMWMC), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC).
SOURCE Northwestern Mutual