Efma and Accenture launch 5th annual Innovation in Insurance Awards

Efma and Accenture are calling for insurers and insurtechs transforming the insurance industry to be recognized in the fifth annual Efma-Accenture Innovation in Insurance Awards. 

Publish date: 04 December 2019
Author: Accenture
Theme : Fintech

Established in 2016, the awards celebrate the most innovative projects and ideas in insurance and provide a forum for organizations to share best practices.

The categories for Efma-Accenture Innovation in Insurance Awards 2020 are:
- Global Innovator (overall winner)
- Connected Insurance & Ecosystems
- Core Insurance Transformation
- Customer Experience
- Product & Service Innovation
- Workforce Transformation
- Insurtech (for startup and scaleup firms only)

Companies can submit their entries at www.efma.com/insawards20  by 10 April 2020. 

The winners will be announced at an awards ceremony in Milan on 4 June 2020. A separate ceremony for North American winners will be held in November 2020.

Each entry will be assessed using three criteria: its originality; its strategic capacity to generate long-term competitive edge and return on investment; and its adaptability for use in other markets and countries. 

Winners will be selected by a panel of judges of senior insurers and by Efma members and non-members from insurance institutions voting online. 

Vincent Bastid, CEO of Efma said, “We want to encourage forward-thinking companies to share their stories and be recognized for taking the insurance industry to an exciting and competitive new chapter. These awards showcase the best in innovation, and we are excited to see how insurers have taken digital transformation to the next level.”

Peter Kirk, who leads Accenture’s Customer Insight & Growth for Financial Services practice globally, said, “Insurers and insurtechs are transforming a once-traditional industry into one that is vibrant with new ideas. It’s vital that the insurance industry embraces a digital future and these awards aim to recognize those who are facing the future fearlessly and putting the customer at the heart of the business.” 

The awards program has attracted a growing number of applications since its launch. Last year drew a record 395 submissions from 287 institutions across 54 countries, an almost 25% increase from the previous year. Zurich (Switzerland) received the top award — Global Innovator — for several innovative products it brought to the market.

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