The Innovation in Insurance Awards is a joint initiative from Efma and Accenture, launched in 2016, which celebrates and promotes innovation in the industry. It encourages insurers to explore new ways of growing their business, and shares ideas that might spark further innovation. The awards recognize the most original and transformational ideas put into action in the areas of Customer Experience & Engagement, Best Disruptive Product or Service, Connected Insurance & Ecosystems and Intelligent Automation. The Global Innovator award is presented to the overall winner across all categories.
In 2017, 219 submissions were received from 144 carriers in 38 countries across the globe, with winners recognized during the April 26 awards ceremony in London as follows:
Global Innovator: Assicurazioni Generali S.p.A / Generali Italy. The company was recognized by a panel of independent judges for its strong focus on innovation in all submissions, including its work on crowdsourcing, incubation initiatives, collaboration with startups and partnerships with global organizations. Second place went to Tokio Marine & Nichido Fire (Japan), while AXA Group (Italy) completed the top three.
Best Disruptive Product or Service: This category went to Médis (Portugal) for its “Enhancing Omni Channel by Adding Interactive TV Commerce” initiative, which was chosen at the evening awards ceremony, with Slice (USA) and InsureApp (Netherlands) completing the top three.
Connected Insurance & Ecosystems: Tokio Marine & Nichido Fire (Japan) won in this category for its “Sharing Medical Information on Blockchain” offering. By sharing patients’ medical information between relevant parties using a blockchain platform, the submission noted that the number of unnecessary medical examinations fell, administrative costs declined and the quality of service improved. Europ Assistance Group in Italy and Belgium-based Qover were runners-up.
Customer Experience & Engagement: “AXA Sure” from AXA Group (France) prevailed in this category with an app that allows information on household contents to be digitized and stored. Users benefit from policy transparency and faster processing in the event of a claim. Second place went to “MyAngel” from Italy-based Groupama Assicurazioni, and third place went to “Consultation through Telemedicine” from Bradesco Seguros in Brazil.
Intelligent Automation: The winning submission in the Intelligent Automation category was “Allianz AI Sales Smart Mentoring” from Allianz (France)—a smart mentoring solution that provides real-time analysis and diagnosis for salesforces to harness the full potential of their commercial relationship skills. “Artificial Intelligence-Assisted Claim Document Recognition System” from Tokio Marine & Nichido Fire (Japan) came in second place, with US-based Safeco, a Liberty Mutual company, placing third.
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