The Efma Accenture Insurance Innovation Awards were announced on June 9 at the Efma Insurance Summit in Milan. A joint initiative between Efma and Accenture, the program aims to identify and award the most innovative projects in the insurance industry worldwide. In each category, the best innovation is selected based on votes from Efma members and a dedicated jury of insurance professionals.

Customer Experience & Engagement: MS&AD Insurance Group Holdings for “Dramatic improvement of contact center operations using Watson”

In this category, we sought innovations that radically change the way insurance players engage customers at one or all touch points (physical as well as digital) and that provide more seamless and personalized experiences. New approaches include: customer management models (service models), omnichannel customer journeys and innovative management of customer loyalty and satisfaction.

The MS&AD Insurance Group Holdings innovative solution was to use IBM Watson Explorer text analysis technology to improve call center operations. The organization analyzed the content of unstructured data, such as telephone and Web-based customer inquiries, to determine whether customers were asking “why” questions. Doing so enabled them to analyze trends more efficiently than before, and to make reliable predictions about the timing of events such as natural disasters and legal system reforms.

Other winners in the Customer Experience & Engagement category were:

  • Silver: Crédit Agricole Assurances – Pacifica for “E-depann’”
  • Bronze: Desjardins Assurances Générales for “Ajusto 100% Mobile Telematics”

Digital & Omnichannel Distribution: USAA for “Digital Virtual Assistant”

In this category, we sought innovations that enhance physical and/or digital distribution, including: mobile and social media as sales channels, remote relationship management to infuse the human touch into digital channels, contact centers, cross-channel sales enablement and value-added self-service features such as innovative user experience and interaction.

USAA’s industry-leading virtual assistant, available on mobile and usaa.com, now offers a new conversational style interface. The goal of the innovation is to:

  • Increase members’ success of getting answers, within the digital channel.
  • Guide members to the right service representative, quickly and securely.

The virtual agent is currently targeting infrequent digital users who need assistance with self-service and those seeking a live agent. Members have provided comments like “It’s cool!”, “Helpful” and “Easy to use.”

Other winners in the Digital & Omnichannel Distribution category were:

  • Silver: Haven Life for “Entirely online purchasing process for term life insurance”
  • Bronze: First National Bank for “Digitalizing funeral insurance”

Congratulations to everyone who submitted innovations!

For a full list of innovations, winners and nominees, register on the Efma site and go to the Innovations Library, Winners 2016 or Nominees pages.

Submit a Comment

Your email address will not be published. Required fields are marked *