New and Disruptive Technologies Take Center Stage at Efma-Accenture Innovation in Insurance Awards in London
Entries showcased artificial intelligence, the internet-of-things and blockchain
Emerging technologies such as artificial intelligence, the internet-of-things and blockchain were prominently featured among the winners of the second annual Efma-Accenture Innovation in Insurance awards announced in London. Aimed at showcasing the best examples of insurance technology innovations in multiple categories, the awards this year attracted nearly 220 entries from nearly 150 institutions in 38 countries.
Piercarlo Gera, senior managing director, Financial Services, Accenture Distribution Marketing, said, “This year’s entries truly set a new benchmark for innovation in insurance. It was clear from the diverse range of submissions that insurers around the world are acting with urgency to innovate for their customers and capitalize on emerging new technologies like artificial intelligence, the internet-of-things and blockchain.”
Assicurazioni Generali S.p.A. (“Generali”) Generali Italy received the 2017 Global Innovator of the Year award. The company was recognized by a panel of independent judges for its strong focus on innovation in all submissions, including its work on crowd sourcing, incubation initiatives, collaboration with startups and partnerships with global organizations.
Moshe Tamir, global head of Digital Transformation, Generali, said, “We’re delighted that our commitment to innovation around the world has been recognized. The insurance landscape is changing fast and digital transformation is at the center of this change. At Generali, we see new technology as instrumental in creating an even stronger relationship with our clients and distributors, and further shaping our business for the future.”
Second place in the Global Innovator of the Year category went to Tokio Marine Nichido Fire (Japan), while AXA Group (Italy) completed the top three.
Four other category winners were announced at the awards show in London:
- Connected Insurance Ecosystems Tokio Marine Nichido Fire (Japan) won in this category for its ‘Sharing Medical Information on Blockchain’ offering. By sharing patients’ medical information between relevant parties using a blockchain platform, the submission noted that the number of unnecessary medical examinations fell, administrative costs declined and the quality of service improved. Europ Assistance Group in Italy and Belgium-based Qover were runners-up.
- Customer Experience Engagement ‘AXA Sure’ from AXA Group (France) prevailed in this category with an app that allows information on household contents to be digitized and stored. Users benefit from policy transparency and faster processing in the event of a claim. Second place went to ‘MyAngel’ from Italy-based Groupama Assicurazioni, and third place went to ‘Consultation through Telemedicine’ from Bradesco Seguros in Brazil.
- Intelligent Automation The winning submission in the Intelligent Automation category was ‘Allianz AI Sales Smart Mentoring’ from Allianz (France) a smart mentoring solution that provides real-time analysis and diagnosis for salesforces to harness the full potential of their commercial relationship skills. ‘Artificial Intelligence-Assisted Claim Document Recognition System’ from Tokio Marine Nichido Fire (Japan) came in second place, with U.S.-based Safeco, a Liberty Mutual company, placing third.
- Best Disruptive Product or Service This category went to Médis (Portugal) for its ‘Enhancing Omni Channel by Adding Interactive TV Commerce’ initiative, which was chosen at the evening awards ceremony, with Slice (USA) and InsureApp (Netherlands) completing the top three.
Vincent Bastid, CEO of Efma, said, “Not only are these awards the perfect way to showcase the industry’s spirit of innovation, they provide an opportunity for insurers to come together and learn about new best practices. On behalf of the awards committee, I’d like to congratulate all our entrants and the ultimate winners on their breakthrough innovations over the last year.”
To learn more about the award-winning innovations, please visit: www.efma.com/innovationininsurance.
A global non-profit organization, established in 1971 by banks and insurance companies, Efma facilitates networking between decision-makers. It provides quality insights to help banks and insurance companies make the right decisions to foster innovation and drive their transformation. Over 3,300 brands in 130 countries are Efma members. Headquarters in Paris. Offices in London, Brussels, Barcelona, Stockholm, Bratislava, Dubai, Mumbai and Singapore.
Learn more at www.efma.com
Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions underpinned by the world’s largest delivery network Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With approximately 401,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.
James Murphy, 1-917-452-0588
Alys Singh, 33 1 47 42 67 71