Efma, a not-for-profit association formed in 1971 by bankers and insurers, specialises in retail financial marketing and distribution. Today, more than 3,000 brands in 130 countries are Efma members, including over 80% of Europe’s largest retail financial institutions.
No. Efma is a global institution, therefore the awards are open to all organizations globally.
Yes, the Efma–Accenture Innovation in Insurance Awards are open to all insurance institutions regardless of their Efma membership.
No, the awards are reserved for insurance and bancassurance institutions. If you would like to submit a project you developed for or with an insurance institution, please ask them to make the application.
Participation is free of charge.
Particular care should be taken when completing the presentation part of the form. You can add a photograph or video in support of your application – to show actual value created.
Yes, but it must be in its pilot phase.
Yes, but only to a limited extent as all financial institutions that are Efma members have full access to submissions.
You can attach the following formats: Word, PDF, PowerPoint, JPG, PNG and URLs. A YouTube URL can only be used for videos.
The judges evaluate the innovations by rating them on a scale from 1 to 10 based on the following three criteria:
- 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.
After the submission deadline, the Efma Committee will review all submissions and select the nominees in each category.
This is a two-step process. Firstly, Efma members visit the website to vote. This contributes 50% of the final score. Then the Innovation Awards Committee, composed of Efma board members and insurance executives from all over the world, vote for the remaining 50%.
No, votes are confidential.
The ceremony will be held in London on 26 April, 2017, prior to the Efma Insurance Summit.
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