Other parts of this series:
Submit case studies of your best insurance innovations for an opportunity to showcase your game-changing innovations in front of a global audience.
The time to enter this year’s Efma–Accenture Innovation in Insurance Awards is running out. If you haven’t already, you can still submit your best thinking before the March 8 deadline.
A joint initiative from Efma and Accenture, the Efma–Accenture Innovation in Insurance Awards aim to identify and award the most innovative insurance programs and projects around the world. This unique, global initiative promotes and recognizes cutting-edge innovation in the insurance sector. It offers an exciting opportunity for insurers to present their novel ideas and to achieve global recognition in front of the most influential names in insurance.
This year, the Efma–Accenture Innovation in Insurance Awards will be given out in four categories, plus a special Global Innovator category:
- Best Disruptive Product or Service, for innovations that enhance and extend the traditional offer, serving new customer segments or entering new markets.
- Connected Insurance, for innovations that use the Internet of Things (IoT) to combine insurance with technology, ecosystem services and partners.
- Customer Experience & Engagement, for innovations that radically change the way insurance players engage customers for seamless, personalized experiences.
- Intelligent Automation, for innovations that leverage the power of disruptive technology like artificial intelligence (AI) and robotics.
- Global Innovator, to the most innovative insurance player worldwide, based on an overall vision to innovation, innovative projects and broad partnerships going well beyond insurance. This is a special category where companies are nominated by the jury.
Winners will be selected using a rigorous judging and voting process. First, an innovation committee will shortlist the best innovation in each category. Efma members then vote online accounting for 50 percent of the final result. The remaining 50 percent will be based on the votes of a dedicated jury of insurance professionals.
At the 2016 Efma–Accenture Innovation in Insurance Awards, five winners were chosen among 148 institutions from 37 countries. Awards were given out in four categories (Customer Experience & Engagement, Digital Omni-Channel Distribution, Best Disruptive Product or Service, Claims Management) plus the Global Innovator category. Winners from Asia Pacific included:
- Customer Experience & Engagement: MS&AD Insurance Group Holdings, for “Dramatic improvement of contact center operations using Watson,” an innovative solution using IBM Watson Explorer text analysis technology to analyze trends more efficiently, and to make reliable predictions about the timing of events such as natural disasters and legal system reforms.
Like last year’s winners, by entering the Efma–Accenture Innovation in Insurance Awards 2017, you will get a chance to:
- Benchmark your innovation against your key competitors.
- Achieve recognition for your investment in innovation from your peers and the broader insurance industry.
- Get closer to how other insurers are responding to key industry challenges.
- Achieve credible profiling in tier-one business media and social media, on the Efma website, social media, innovation portal and member newsletter.
- Get free access to the three-day Efma Insurance Summit as a winner and hear valuable insights from respected industry figures.
- Network with a community of top-level decision makers in distribution, transformation, business development, innovation, strategy and more at the awards ceremony.
Submit your case studies by March 8, 2017 for the chance of being recognized for your brilliant ideas and superb execution, and to support best practices across the industry. In particular, I would like to encourage entries from Asia Pacific—let’s show the rest of the world that ours is a key region for innovation!
Winners will be announced at a dedicated awards ceremony in London on April 26, 2017 as part of the Efma Insurance Summit.
I wish you the best of luck!
To learn more about the Efma–Accenture Innovation in Insurance Awards or to submit your innovation, visit the Efma Innovation in Insurance website. Submissions close March 8, 2017.