Efma and Accenture reveal winners of Innovation in Insurance Awards 2019

Efma feature

25 June 2019

Efma, an association of more than 3,300 retail financial services companies in 130 countries, and Accenture today announced the winners of the fourth Innovation in Insurance Awards at the annual awards ceremony, held in Amsterdam. Showcasing the best examples of insurance technology innovations in multiple categories, the awards competition this year attracted 395 submissions from 287 institutions in 54 countries.


The winners of the Efma-Accenture Innovation in Insurance Awards 2019 are:

- AXA Germany (Germany) – won the Connected Insurance & Ecosystems award for “LightGuard Connect,” the first bicycle eCall in Germany combining a smart bicycle light with a certified crash sensor, a safety app called WayGuard and a casualty micro-insurance product. The sensor communicates to the app when an accident takes place and sets in motion a certified emergency process, sending rescue services to the exact GPS location of cyclists in the case of serious accidents. Verti Seguros (Spain) took silver for MAPFRE Verti Driver and Quick Sigorta (Turkey) took bronze for QWorld - Our Digital Ecosystem.

- CCS (Netherlands) – won the Insurtech award for “Marketplace,” a cloud-based ecosystem with best-in-class apps that enables a one-to-many approach, instead of point-to-point, with apps that can be quickly activated and paid for based on usage (e.g., per quotation, policy, claim, etc.). Tapoly (United Kingdom) took silver for Tapoly and HedgeSPA (Singapore) took bronze for HedgeSPA - Sophisticated Predictive Analytics for Hedge Funds and Institutions.

- Nippon Life Insurance Company (NISSAY) (Japan) – won the Customer Experience award for its new “TASKALL” tablet for sales representatives that is equipped with cutting-edge technology, including artificial intelligence, to supplement and enhance the quality of sales activities and customer service. Generali Welion (Italy) took silver for SkinVision – Detect your skin cancer and MassMutual Financial Group (USA) took bronze for Society of Grownups (SoG).

- PZU (Poland) – won two awards: the Core Insurance Transformation award for “moje.pzu.pl,” a self-service portal offering customers a wide range of property and life insurance, investment and medical care products in one place, in cooperation with banks, other intermediaries and its affiliate networks; and the Workforce Transformation award for its “Robotic Process Automation for PZU Group Employees & Customers,” a precise tool that allows the company to effectively use employee time for the benefit of customers, i.e., the management of workloads and efficiency. Suramericana (Colombia) took silver for SURA Masivos - Digital Broker Platform to innovate Bancassurance and First National Bank (South Africa) took bronze for Predictive Mortality Model.

- Zurich (Switzerland) – won two awards: the Global Innovator of the Year for several innovations including: the “Zurich Innovation World Championship,” its first global insurtech competition that seeks the best startups to collaborate with its business units; the “Make the Difference” program, which empowers employees to make Zurich a better place for colleagues and customers by focusing on simplification, innovation and trust; and a platform powered by CoverWallet that enables businesses to assess their insurance requirements, quote and buy online, seek advice of professionals if needed, as well as store their policies and background data online in a hassle-free way. MetLife took silver and Aviva France took bronze. Zurich (Switzerland) also took gold in the Product & Service Innovation award for “Klinc by Zurich,” on-demand insurance for millennials in Spain that lets them control their insurance policies and directly manage them through their mobile phones, AXA Partners Italy took silver for took Silver for BeLive Cancer Genomic Profiling and Aviva (France) took bronze for OnMyWay.

“The number of entries in this year’s competition has once again surpassed expectations,” said Vincent Bastid, Efma’s CEO. “The insurance industry is undergoing a transformation, as insurers seize opportunities to innovate and improve the customer experience, personalization, and go digital, through a combination of AI and Big Data. Congratulations to all of this year’s innovation winners.”

Piercarlo Gera, Accenture’s Financial Services Customer Insights & Growth lead, said, “Insurance remains extremely susceptible to future disruption. Innovation — and the ability to do so in a sustained manner and at scale — holds the key to future survival. These awards confirm that insurers across the globe are embracing new technologies to develop innovations around the customer experience, transform their operations and create new efficiencies. This is very encouraging indeed, and we applaud this great work.”

The winners were selected through a combination of votes by a panel of judges comprising senior insurers from around the world and online by Efma members and non-members from insurance institutions. Each entry was assessed using three criteria: its originality; its strategic capacity to create a long-term competitive edge and return on investment; and its adaptability for use in other markets and countries.

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To find out more about the award-winning innovations, visit www.efma.com/innovationininsurance or follow the conversation on Twitter at #InsAwards19.

Keywords : Innovation , Insurance Products & Services , Fintech

Geography : International