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Qorus-Accenture Innovation in Insurance Awards

The Qorus-Accenture Innovation in Insurance Awards is a global competition showcasing the best new ideas and practices.

June 14, 2023

Making the exceptional visible

The Qorus-Accenture Innovation in Insurance Awards have been serving as a catalyst for innovation in the insurance sector since their inception in 2015.

 

This global competition rewards the best new ideas and practices that are transforming the industry for the benefit of insurers and customers alike. The 2022 awards attracted an impressive 398 entries from 251 institutions in 44 countries, culminating in a global online awards ceremony on 15 June 2022.

 

VIEW THE 2022 WINNERS

 

The awards offer powerful insights into how innovation is shaping the insurance industry. Innovation has established itself at the center of insurance carriers’ response to changing customer expectations and market conditions. Our outstanding submissions reflect that.

 

VISIT THE INNOVATION IN INSURANCE AWARDS PORTAL

Qorus-Accenture Innovation in Insurance Awards 2022 highlights


Highlights from the 2022 Qorus-Accenture Innovation in Insurance Awards ceremony held on 15 June 2022.

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Qorus-Accenture Innovation in Insurance Trends 2022

6 innovation trends making an impact in Insurance

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Why enter the Innovation in Insurance Awards?

The Qorus–Accenture Innovation in Insurance Awards recognize the most innovative initiatives and ideas in insurance globally. Winners are awarded by their peers, with a rigorous, independent judging and voting process. By entering you will benefit...

Innovation and inspiration

Help promote a culture of innovation in insurance and benchmark your innovation against those of other insurers.

Recognition

Achieve the recognition of your colleagues and peers, and gain public acclaim for your organization as an innovation leader.

A global network

Network with other executives who are driving innovation and be inspired by the creativity and boldness of your peers.

How to enter the innovation in insurance awards

Organizations can enter the Innovation in Insurance Awards at no cost. All Qorus financial institution members have full access to review all submissions, so please only include information in your submission that you are willing to disclose to the public.

The following will walk you through the submission form. First, you will need to create a free account. You can save your submission in draft at any time. Completing the form should take approximately 30 minutes if you have your content and attachments ready. Get started now.

Create an account
Submit an innovation

Our innovation form comprises four parts

  1. Give your innovation a unique and descriptive name. There is no word limit, but we recommend sticking to 10 words or less. Winning submission titles have included: AXA XL – Construction Ecosystem, Discovery – AI Quote, Generali – WelionAPP, HITS – bAlby: The AI-based Baby Cry Translator, Baloise – Drive Electric and Generali – We Share App
  2. For your Elevator Pitch, narrow your description to 10 words or less. Be catchy!
  3. Provide a brief summary of your innovation in less than 250 words. Your summary should cover the concept and objectives, reasons for innovating, competitive landscape, source/s of inspiration, departments involved and key results so far.
  4. Uniqueness: Define what makes the project unique, including innovative aspects, characteristics and differentiating factors. Specify whether your innovation represents an incremental or disruptive innovation and describe how it fits within your organization’s current positioning and business model.
  5. Select your category (review category descriptions below)
  6. Choose some keywords in the list that best fit your project.
  7. Provide your innovation launch date, relaunch date or date of your next project update.
  8. Give us more info by selecting the key technologies utilized, your core target market, your innovation line of business, the primary value chain element, and which distribution channels you use.

The reason behind: Explain the key innovation drivers, such as a customer problem, an unsatisfied need or an opportunity in the market. This is the “why” for your project. You can add different reasons behind it.

  1. Provide some information on the timing of the project and investment made. Complete your submission with a high-resolution cover image, which enables your innovation to be spotlighted on the Innovation in Insurance Awards website. Additionally, you can attach more images, URLs, documents or videos to build out your submission. In 2021, Generali shared social media pages, brochures as well as links to its products pages. Baloise attached a Youtube video for its Drive Electric innovation.
  2. Describe one or several challenges faced to implement your project and tell us more on the current status of the project.
  3. Give us more info on the organizational structure supporting the initiative, including the number of people involved but also the departments and the external partners involved.
  4. Key contact. If you are not the main contact, please enter the name, job title and email of the person in the submitting company. We will need your information for any administrative or content matters related to your submission.

Describe the major results obtained or expected. Include both qualitative (e.g. customer satisfaction, other awards) and quantitative (e.g. reduced costs, increased revenue, customer acquisition) success metrics. You can select different kinds of results (cost savings, customer acquisition, productivity, benefits). When you’re ready, submit your innovation for the opportunity to be nominated and win an Innovation in Insurance Award.

2023 Award Categories

The most innovative insurer. The winner is the organization whose corporate vision commits it successfully to continuous innovation and transformation, to the development and leadership of a broad ecosystem of partners extending beyond insurance, and to the exploitation of emerging technologies that improve the experience of its customers and the performance of its business.

Innovative practices that give rise to new business models, scalable end-to-end value propositions that capitalize on the power of partnerships, platforms and the Internet of Things. Innovations, diversification opportunities and ecosystems may reach beyond the traditional boundaries of insurance, and may be submitted by incumbents, specialized players and other new competitors.

The creation and/or application of innovative technology that substantially enhances the customer experience and/or develops new sources of value for insurers. This category is reserved for insurance start-ups and spin-offs, and technology firms targeting the insurance industry. Innovations must be stage-one funded, have a market release proposition, and/or have completed a successful market proof of concept.

Innovations that significantly enhance, extend or replace the traditional offer, creating new profit pools by serving new customer segments or existing segments in new ways, and entering or creating new markets typically beyond the reach of insurance players.

Innovations that significantly enhance the way companies engage with customers. These new approaches create value through, for example, seamless and personalized experiences across physical and/or digital channels, new customer management models, artificial-intelligence-driven advice, and innovative management of customer loyalty and satisfaction.

Innovations that advance Insurance’s social purpose and its commitment to being a good corporate citizen and a true ally of its customers.

Innovations that successfully bring together people, culture, leadership, organization and technology, enabling the insurer to realize the full potential of the human and machine workplace.

2022 Innovation in Insurance Award Winners

Global Innovator: Discovery

Discovery won for introducing several innovations such as The Healthy Futures calculator which analyzes an individual customers’ unique biometrics to give them a basic overview of their health, and provides personal, science-based recommendations and insights.

Connected Ecosystems and Marketplaces: AIA Thailand

AIA received this award for its ALive mobile application. This ecosystem of health and wellness offerings aims to put community at its core by supporting young families and helping them lead healthier, longer and better lives.

Insurtech: Bolttech

Bolttech won this award for Click-to-Protect (CTP), a diagnostic tool for mobile device insurance and protection that is offered to partners via a white-labelled offering. It uses AI and machine learning to assess the condition of any new or used smart phone, without the need for an app.

Product & Service Innovation: Discovery

Discovery received this award for Discovery Hospital at Home, which provides an alternative care setting for a range of medical and post-surgical conditions that would otherwise require hospital admission.

Re-imagining the Customer Experience: Allianz Partners

Allianz Partners received this award for Visi´Home, a video-diagnostic service that supports customers remotely.

Social, Sustainable & Responsible: PZU

PZU received this award for AI Skin Cancer Prevention. Customers are able to access skin cancer pre-screening quickly and easily through an AI-enabled mobile app.

Workforce Transformation: Zurich Insurance Company

Zurich won this award for One Zurich, an all-in-one mobile application for Zurich employees that simplifies the day-to-day experience whether at home or in the office.

Innovation in Insurance Award blogs

Learn more about Innovation in Insurance award winners and trends from Accenture leaders.

VIEW MORE BLOGS
VIEW MORE BLOGS

Meet our leaders

Kenneth Saldanha

Senior Managing Director – Insurance Lead, Americas
LinkedIn

Daniele Presutti

Senior Managing Director – Insurance Lead, EMEA
LinkedIn

Cindy De Armond

Senior Managing Director – Insurance Lead, North America
LinkedIn

Naoyuki Shibata

Senior Managing Director – Insurance Lead, Asia Pacific
LinkedIn