The second annual Efma–Accenture Innovation in Insurance Awards are just a few weeks away. The Awards celebrate and promote novel ideas in the insurance industry and encourage cutting-edge innovation.
It’s an exciting time to be part of the insurance industry and to witness such unprecedented transformational change all around the world.
This year, 143 institutions from 38 countries submitted 219 innovations to the Efma–Accenture Innovation in Insurance Awards. All these organizations have made extraordinary contributions to driving the digital era forward with creative insurance programs and projects. A total of 24 organizations were shortlisted, and voting ended March 31st. Winners will be revealed on April 26 in London.
Following are just a few examples of the breadth and depth of the industry-leading innovations that are changing the way insurers give customers a plethora of options and personalized services.
In the Connected Insurance and Ecosystems category, Japan’s Tokio Marine & Nichido Fire Insurance Co. has developed an ingenious way to use blockchain to share patient information across medical groups that will provide faster service and reduce costs. The Europ Assistance Group has created Bag Track, which is both an insurance policy and a smart tracking solution that helps locate undelivered luggage. This solution provides information via smartphones or tablets, showcasing a new insurance and consumer electronic innovation that is driving digital another step forward.
In the Customer Experience & Engagement category, Italy’s Generali Digital has created an a multi-country insurance agent platform that allows seamless data and process flow between Generali, agents and clients. China’s Union P&C Insurance is developing short-term insurance options for home owners who travel. Policies can be purchased at the time customers book their trip.
Allianz France, in the Best Disruptive Product or Service category, has created Allianz Véhicules semi-autonomes (VSA), which is the only car insurance policy in France dedicated to semi-autonomous cars. Allianz is also already ahead of the game by providing protection against the risk of cyber attacks, and more. Médis in Portugal has created a unique way consumers can search for nearby Médis health care providers by using a TV remote control. Building on that functionality, Médis will also offer telemedicine options, and is looking to provide auto, pet and travel insurance.
On the Intelligent Automation front, Liberty Mutual Insurance in the United States has created an interface with Amazon’s hands-free Alexa assistant that enables a voice-activated insurance advisor to help customers find agents and understand common insurance terms. Spain’s Mapfre, has developed an app called APPCOL that lets property managers streamline home repairs, optimize routes, and easily connect with clients to manage all processes in a digital manner.
I look forward to the awards ceremony, where all of this astounding insurance innovation intelligence will be present in one room, for what will undoubtedly be a very exciting afternoon and evening of connections and conversations. There will be one winner from each category, and one organization will be named Global Innovator of the Year.
For more on each category and submission details, visit the Efma nominees page.
In my next post, I’ll review the winners.