Nominations have been announced for the first Efma-Accenture Innovation in Insurance awards, launched this year to identify and award the most innovative insurance initiatives and projects around the world.
Efma received submissions of 224 innovations from 148 institutions in 37 countries. The winners will be revealed during the awards ceremony at the Insurance Summit, which will take place in Milan, Italy on June 9.
“We’re creating a place where insurance companies and banks’ insurance subsidiaries will be able to showcase their innovations and get to grips with the latest ideas, technologies and strategies adopted by their peers,” explained Vincent Bastid, chief executive officer of Efma, a Paris-based networking association of 3,300 financial services companies from more than 130 countries.
Edwin VanderOuderaa, managing director, Accenture Digital, Financial Services, said this joint initiative with Efma is designed to foster innovation in the insurance industry, “which is facing disruption at an unprecedented rate.” (The Innovation in Insurance awards build on Efma and Accenture’s Banking Innovation awards).
Efma said an expert panel has selected nominees for awards in five different categories, which are:
A statement issued by Efma-Accenture to announce the nominations said “the best-in-class solutions will be chosen based on votes from both members and the Innovation Awards Committee, which comprises Efma board members and insurance executives from all over the world.”
“We look forward to seeing how innovative insurers propose to address changing customer behaviors, new technologies and access to big data to help redefine their value proposition,” said VanderOuderaa from Accenture Digital.