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MAKING THE EXCEPTIONAL VISIBLE

OVERVIEW

The Efma–Accenture Innovation in Insurance Awards were launched in 2016 to recognize and promote innovation in the industry. Encouraging insurers to explore new ways of growing their business, the awards celebrate the best new ideas that are transforming our industry – and serve to spark further innovation.

The awards continue to grow in their reach and importance, with 320 submissions received in 2018 from 237 carriers in 45 countries across the globe. Winners were announced on June 12 at the global awards ceremony in Paris, and a second ceremony specifically recognizing US and Canadian innovation in Boston on October 24.


DOWNLOAD VIDEO TRANSCRIPT [PDF]

There are three major Awards phases:

  • Idea collection (3 December 2018 – 24 April 2019): All insurers are encouraged to identify their most innovative initiatives and submit them here.
  • Judging & voting process (6 – 17 May 2019): A rigorous and independent process ensures the credibility of the awards. This includes shortlisting by an Awards Committee; deliberations by a jury of industry professionals; and a broader online voting process.
  • Awards ceremony (24 June 2019): The best innovation in each category will be rewarded during a dedicated event, open to all insurance and bancassurance players. The 2019 event will be held in Amsterdam on 24 June, and will include the winners presenting their submissions.

There are six categories you can submit entries for in the 2019 awards:

CONNECTED INSURANCE & ECOSYSTEMS

CONNECTED INSURANCE & ECOSYSTEMS: 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.

CORE INSURANCE TRANSFORMATION

CORE INSURANCE TRANSFORMATION: Significant enhancement of the underwriting, claims or other processes, through improved automation, predictive/behavioral models, artificial intelligence or other advances, to support price optimization, fraud prevention, efficiency, personalization or enhanced agility.

CUSTOMER EXPERIENCE

CUSTOMER EXPERIENCE: 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.

INSURTECH

INSURTECH: 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.

PRODUCT & SERVICE INNOVATION

PRODUCT & SERVICE INNOVATION: 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.

WORKFORCE TRANSFORMATION

WORKFORCE TRANSFORMATION: 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.

GLOBAL INNOVATOR

In addition, a GLOBAL INNOVATOR will also be recognized. To qualify for this, you need to submit at least three innovations in the other six categories. The winner is then selected by a dedicated jury of insurance professionals.

The Efma–Accenture Innovation in Insurance Awards aims to appraise and recognize the most innovative projects, initiatives and ideas in insurance globally. Winners are awarded by their peers, with a rigorous, independent process ensuring the credibility of the awards.

By entering you will:

  • Help promote a culture of innovation in insurance
  • Achieve the recognition of your colleagues
  • Be acknowledged by your industry peers
  • Gain public acclaim for your organization as an innovation leader
  • Network with other executives who are driving innovation
  • Benchmark your innovation against those of other insurers
  • Be inspired by the creativity and boldness of your peers

  • If you don’t already have an Efma account, register here.
  • If you do have an account, log in here and submit your entry.
  • You can submit any number of entries in categories 1 to 6; Global Innovator nominees are selected from all the entries by the shortlist panel.
  • Your innovation must have been launched after 1 January 2017.
  • Only insurance and bancassurance companies may enter all 6 awards categories. Insurtechs may submit their innovations in the Insurtech category only. These innovations must be stage-one funded, have a market release proposition, and/or have completed a successful market proof of concept.
  • Deadline for entries: 24 April 2019.
  • There is no charge to enter.

For more information please speak to your Accenture executive or contact Nicky Holmes, Awards Manager, at innovationinsurance@accenture.com

WATCH INSURANCE INNOVATION VIDEOS

2018 AWARDS HIGHLIGHTS


It was a record-setting year for the Efma-Accenture Innovation in Insurance Awards, with 320 submissions received from 237 carriers in 45 countries across the globe. Watch the highlights from the awards ceremony in Paris and learn more about the industry-leading innovations.

DOWNLOAD VIDEO TRANSCRIPT [PDF]

DOWNLOAD VIDEO TRANSCRIPT [PDF]

INNOVATION TRENDS IN INSURANCE


Jean Francois-Gasc, Insurance Managing Director for EALA responds to questions about what disruptive opportunities are gaining speed in the insurance industry.

2017 AWARDS HIGHLIGHTS


Get a glimpse of some of the best moments from the 2nd annual awards.

2017 AWARDS: WINNER INSIGHTS


The Efma-Accenture Innovation in Insurance Awards Ceremony in London united 26 countries to celebrate innovation. Learn more about disruptive projects that won.

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