THE EFMA−ACCENTURE INNOVATION IN INSURANCE AWARDS 2020
MAKING THE EXCEPTIONAL
VISIBLE
The Efma−Accenture Innovation in Insurance Awards celebrate the very best new ideas that are transforming our industry. Your ideas, put into action and delivering results. Submit your entry today, share your idea, and get the credit it deserves from your colleagues and peers.
COVID-19 update: 2020 awards ceremony: The Efma & Accenture teams are monitoring the COVID-19 situation carefully in relation to our planned 2020 award ceremony. Our top priority is always health and safety of all award participants We will advise you on the format and details for this in due course. Please keep submitting your entries in time for the April 10 cut-off!
WHAT ARE THE INNOVATION AWARDS
The Efma-Accenture Innovation in Insurance Awards have served as a catalyst for innovation in the insurance sector and have helped insurers develop better disruptive strategies.
This global competition is a showcase of the most exciting and effective innovations that are taking advantage of emerging technologies and responding to the disruption and opportunities in insurance.
AWARD CATEGORIES
2020 categories :
- Connected Insurance & Ecosystems
- Core Insurance Transformation
- Customer Experience
- Global Innovator
- Insurtech
- Product & Service Innovation
- Workforce Transformation
- Connected Insurance & Ecosystems
- Core Insurance Transformation
- Customer Experience
- Global Innovator
- Insurtech
- Product & Service Innovation
- Workforce Transformation
A rigorous, independent judging and voting process ensures the credibility of the awards.
The awards ceremony is recognized as the premier annual gathering of insurance innovators and their ideas worldwide
what are the benefits of participating?
The Efma-Accenture Innovation in Insurance Awards offer benefits for entrants, winners and the industry as a whole.
- Help promote a culture of innovation in insurance
- Achieve the recognition of your colleagues
- Be acknowledged by your industry peers
- Gain public acclaim for your organization as an innovation leader
- Network with other executives who are driving innovation
- Benchmark your innovation against those of other insurers
- Be inspired by the creativity and boldness of your peers
how can you submit your innovation?
The Efma-Accenture Innovation in Insurance Awards offer benefits for entrants, winners and the industry as a whole.
- If you don’t already have an Efma account, register free of charge here
- If you do have an account, log in and submit your entry
- You can submit any number of entries. Note, to qualify for the Global Innovator category, insurers need to submit at least three innovations in the other seven categories.
The winner is then selected by a dedicated jury of insurance professionals. - Your innovation must have been launched after 1 January 2018, and must be in at least the pilot phase.
- Only insurance and bancassurance companies may enter all 6 awards categories. Insurtechs may submit their innovations in the Insurtech category only.
These innovations must be stage-one funded, have a market release proposition, and/or have completed a successful market proof of concept. - Visit the Innovation Showcase to see previous submissions
- Deadline for entries: April 2020
- There is no charge to enter
- Contact Efma or Accenture with any queries
View this month’s winner
Click here to view all past winners
SUBMISSIONS PROCESS
How to enter the awards and key milestone dates.
The Efma–Accenture Innovation in Insurance Awards was launched in 2016 to identify and award the most innovative projects in the insurance sector. The awards also aim to highlight and share worldwide best practices that will help accelerate the transformation of insurance as we know it for the better.
In 2019, the awards attracted 395 entries from 287 institutions in 54 countries. The 2020 edition is now open for entries until 10 April 2020. Get a head start and submit your most innovative projects now. You can also start the submission process and finish it later.
For the six above mentioned categories, Efma members and non-members vote online prior to the awards ceremony, as well as an Awards Jury comprising senior insurance executives from across the world.
All voters will be requested to rank the innovations on a podium (Winner, Silver, Bronze), via our dedicated voting web page.
The votes of jury members will count for 50% of the final scores, while the remaining 50% will be decided by online voters/visitors (40% for Efma Members and 10% for non-members)
For the Product & Service Innovation Award, online voters and jury members will shortlist six innovations out of the nine nominated ones, and the six selected innovators will come on stage to pitch their innovations in front of the audience. After the live pitches, there will be an interactive vote and the winner in the category will be announced on stage.
For the Global Innovator Award, the Awards Jury will select the winner from the fifteen nominees identified by the Awards Committee.
The best innovation in each of the six standard categories will be recognized at a dedicated awards ceremony.
The Innovation Award Committee will also further recognize one insurance player as a ‘Global Innovator’.
Winners will have the opportunity to present on their innovation journey, reflect on their experiences and share the key success factors in the design, development and operational phases of their innovation.
Participation is restricted to the winners & is FREE of charge. Other financial institution may attend on invitation-only.
Winners are announced at our VIP Awards Ceremony in Milan
The Award categories
View the 2020 categories
AWARD CATEGORIES
CONNECTED INSURANCE & ECOSYSTEMS
CONNECTED INSURANCE & ECOSYSTEMS
Innovative practices that give rise to new business models and scalable end-to-end value propositions that capitalize on the power…
CORE INSURANCE TRANSFORMATION
CORE INSURANCE TRANSFORMATION
Significant enhancement of the underwriting, claims or other processes, through improved automation, predictive/behavioral models, artificial intelligence or other advances,…
CUSTOMER EXPERIENCE
CUSTOMER EXPERIENCE
Innovations that significantly enhance the way companies engage with customers. These new approaches create value through, for example, seamless…
GLOBAL INNOVATOR
GLOBAL INNOVATOR
The most innovative insurer. The winner is the organization whose corporate vision commits it successfully to continuous innovation and…
INSURTECH
INSURTECH
The creation and/or application of innovative technology that substantially enhances the customer experience and/or develops new sources of value…
PRODUCT & SERVICE INNOVATION
PRODUCT & SERVICE INNOVATION
Innovations that significantly enhance, extend or replace the traditional offer, creating new profit pools by serving new customer segments…
WORKFORCE TRANSFORMATION
WORKFORCE TRANSFORMATION
Innovations that successfully bring together people, culture, leadership, organization, and technology, enabling the insurer to realize the full potential…
CONNECTED INSURANCE & ECOSYSTEMS
Innovative practices that give rise to new business models and scalable end-to-end value propositions that capitalize on the power of partnerships,platforms and the Internet of Things. Innovations, diversification opportunities and ecosystems may reach beyond the traditional boundaries of insurance, and may be submitted by incumbents, specialized players and other new competitors.
Submit in this category
CORE INSURANCE TRANSFORMATION
Significant enhancement of the underwriting, claims or other processes, through improved automation, predictive/behavioral models, artificial intelligence or other advances, to support price optimization, fraud prevention, efficiency, personalization or enhanced agility.
Submit in this category
CUSTOMER EXPERIENCE
Innovations that significantly enhance the way companies engage with customers. These new approaches create value through, for example, seamless and personalized experiences across physical and/or digital channels, new customer management models, artificial-intelligence-driven advice, and innovative management of customer loyalty and satisfaction.
Submit in this category
GLOBAL INNOVATOR
The most innovative insurer. The winner is the organization whose corporate vision commits it successfully to continuous innovation and transformation, to the development and leadership of a broad ecosystem of partners extending beyond insurance, and to the exploitation of emerging technologies that improve the experience of its customers and the performance of its business.
INSURTECH
The creation and/or application of innovative technology that substantially enhances the customer experience and/or develops new sources of value for insurers. This category is reserved for insurance start-ups and spin-offs, and technology firms targeting the insurance industry. Innovations must be stage-one funded, have a market release proposition, and/or have completed a successful market proof of concept.
Submit in this category
PRODUCT & SERVICE INNOVATION
Innovations that significantly enhance, extend or replace the traditional offer, creating new profit pools by serving new customer segments or existing segments in new ways, and entering or creating new markets typically beyond the reach of insurance players.
Submit in this category
WORKFORCE TRANSFORMATION
Innovations that successfully bring together people, culture, leadership, organization, and technology, enabling the insurer to realize the full potential of the human and machine workplace.
Submit in this category
Judging & Voting process
A rigorous and independent process ensures the credibility of the awards.
The Efma–Accenture Innovation in Insurance Awards aims to appraise and recognize the most innovative projects, initiatives and ideas in insurance globally. Winners are awarded by their peers, with a rigorous, independent process ensuring the credibility of the awards.
Nine innovations will be shortlisted by the Awards Committee for each of the award categories. The committee will comprise industry experts. In addition, fifteen applications will be shortlisted for the special Global Innovator category.
For all but the Global Innovator category, Efma members and non-members will vote online in May, using our dedicated web page to select the top three entries. This will make up 50% of the final scores (40% from Efma members and 10% from non-members). The remaining 50% will come from the votes of an Awards Jury, which comprises senior insurance executives from across the world.
For the Product & Service Innovation category, online voters and jury members will shortlist six innovations out of the nine nominated ones. The six shortlisted innovators will present their innovations to the audience at the awards ceremony. The audience will then cast their votes and the winner will be announced on-stage.
For the Global Innovator category, the Awards Jury will select the winner from the fifteen nominees identified by the Awards Committee.
Entries are evaluated on a scale of 1 to 10, taking the following three criteria into account:
- Originality: the uniqueness of the idea in the marketplace and its potential as a game-changer.
- Impact: the innovation’s capacity to generate a superior, long-term competitive edge and a significant return on investment.
- Universality: the innovation’s adaptability across different markets and countries.
Anshul Srivastav
CIO and Chief Digital Union Insurance - UAE
Sivakumar Seshadri
Chief Operating Officer Alrajhi Takaful - UAE
Stefano Bison
Head of Group Business Development Generali - Italy
Lorenz Hänggi
Innovation Engineer, Senior Manager / VP Axa Winterthur - Switzerland
Chris Rice
AVP continuous improvement Metlife - USA
Evgeny Generalov
Deputy Director Digital Business Unit OJSC "Rosgosstrakh" - Russia
Jannicke Schumann
Head of Innovation Tryg Insurance - Denmark
Jon Bradbury
Senior Vice President Manulife Financial - Canada
Nasser Zagha
Chief Technology Officer IGI - International General Insurance - UAE
Scott Stice
Chief Marketing Officer FBL Financial Group, Inc. - USA
Tomasz Raczyński
Deputy Director, Insurance Department mBank - Poland
Dr. Robin Kiera
CEO Digitalscouting.de - Germany
Daryl Png
Product Innovation Lead AIG - Singapore
Hashmat Rohian
Senior Director and Managing Enterprise Architect The Co-operators Group Ltd. - Canada
Boonson Jenchaimahakoon
First Senior Executive Vice President, Information Technology, Head of Innovations Government Savings Bank - Thailand
Paul Bennett
Global Brand Director AXA Group - South France
Gareth Friedlander
Head of Research and Development for Discovery Life Discovery - South Africa
Jean-Louis Laurent Josi
CEO Oman Insurance Company (PSC) - UAE
Jane Tutoki
Board Member Sedgwick - USA
Rob Galbraith
Author and Keynote speaker Global Insurtech thought Leader - USA
Bruce Adrain
Head of Business Enablement Liberty Group - South Africa
Michele Andrade
Product Managerr Bradesco Seguros - Brazil
Murat Atalay
Deputy CEO - Chief Sales Officer Anadolu Hayat Emeklilik - Turkey
Charles Brooks
SVP, Operations and Systems Kemper Corporation - USA
Ursuline Foley
Board Member & Strategic Advisor - USA
Nuno Horta
Innovation Manager Ocidental Seguros - Portugal
Marcin Kurczab
Head of Innovation Lab PZU - Poland
Franck Le Vallois
Member of the Executive Board, in charge of Sales Allianz France - France
Marcos Rodriguez
Head of Transformation Zurich Insurance - Spain
Enrico Tardocchi
Innovation & Product Marketing Manager Europ Assistance Group - Italy
Award ceremony
Based on COVID-19 we are evaluating the location and format of the 2020 event. Watch this space!
It was a record-setting year for the Efma-Accenture Innovation in Insurance Awards, with 395 submissions received from 287 carriers in 54 countries across the globe Read more here
Watch the highlights from the 2019 awards ceremony held in Amsterdam and learn more about the industry-leading innovations.