Accenture Efma

EFMA−ACCENTURE INNOVATION IN INSURANCE AWARDS

PUTTING YOUR INNOVATION
IN THE SPOTLIGHT

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.

what are the
innovation
awards
what are the
benefits
of participating?
how can you
submit your
innovation?
innovation of
the month

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.

8 AWARD CATEGORIES

−  Artificial Intelligence
−  Best Disruptive Product or Service
−  Claims Management
−  Connected Insurance and Ecosystems
−  Customer Experience and Engagement
−  Global Innovator
−  Insurtech
−  Underwriting

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

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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

Submit

how can you submit your innovation?

The Efma-Accenture Innovation in Insurance Awards offer benefits for entrants, winners and the industry as a whole.

  1. If you don’t already have an Efma account, register free of charge here
  2. If you do have an account, log in and submit your entry
  3. 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.
  4. Your innovation must have been launched after 1 January 2016, and must be in at least the pilot phase
  5. Insurtechs may only enter the Insurtech category on their own; to enter the other categories they should partner with their insurance clients
  6. Visit the Innovation Showcase to see previous submissions
  7. Deadline for entries: 18 April 2018
  8. There is no charge to enter
  9. Contact Efma or  Accenture with any queries

Submit

innovation of the month: March 2018

Clic on the image to access the innovation:

237

Institutions

45

Countries

320

Innovations

SUBMISSIONS PROCESS

How to enter the awards and key milestone dates.

from 01/01 to 18/04
from 30/04 to 11/05
from 30/04 to 11/06
from 12/06 to 31/07

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 2018, the awards attracted nearly 320 entries from nearly 237 institutions in 45 countries.
This 4th edition submitting period is now open. Don’t wait, simply submit your most innovative projects now to enter the 2019 competition. You have the possibility to start submitting your project now and finalize it later. You have until 18 April 2019 to submit!

For the seven abovementioned 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 Best Disruptive Product or Service 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 seven 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.

The ceremony is free of charge, but reserved to financial institutions. Places are limited so book your seat now!

Winners will be unveiled right after the Awards Ceremony, on 13 June 2018.

The Award categories

Find out more about the award categories in 2018.

AWARD CATEGORIES

445

innovations submitted
since 2016

19

senior insurance leaders acted as judges
in 2017

3300

online votes received
since 2016

292

institutions have participated
since 2016

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.

Nomination
Voting
Judging
Awards jury

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 between 30 April and 11 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 Best Disruptive Product or Service 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:

  1. Originality: the uniqueness of the idea in the marketplace and its potential as a game-changer.
  2. Impact: the innovation’s capacity to generate a superior, long-term competitive edge and a significant return on investment.
  3. Universality: the innovation’s adaptability across different markets and countries.

 

 

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Award ceremony

The best innovation in each category will be rewarded during a dedicated event in Paris on 12 June.

The best innovation in each category will be announced at a dedicated event, open to all insurance and bancassurance players. The 2018 event will be held in Paris on 12 June 2018 at the Elyseum. During the ceremony, all winners will present their innovations, highlighting the key success factors in the design, development and operational phases of the innovative projects.

Watch the video of the 2017 London awards ceremony below.

765

Innovations submitted
since 2016

320

Innovations submitted
in 2018

25

Senior insurance leaders
acted as judges in 2018

7400

online votes received
in 2018