Efma and Accenture Announce Ceremony to Honor North American Winners of Their Global ‘Innovation in Insurance’ Awards
March 01 2018 - 7:59AM
Business Wire
For the third edition of their annual Innovation in Insurance
Awards, Efma and Accenture (NYSE: ACN) are introducing a
North-American awards ceremony, to be held in New York on Oct. 24,
following the global awards ceremony in Paris on June 12.
Accenture and Efma, a global association comprising thousands of
insurance and banking members, launched the global Efma-Accenture
Innovation in Insurance Awards program in 2016 to showcase the most
exciting and effective innovations in insurance. Although North
American insurers will be among the global winners, the New York
event will spotlight the best submissions from U.S. and Canadian
insurers.
“These awards recognize insurers that are leading innovation and
reveal the current state of the industry and where it is going,”
said Vincent Bastid, CEO of Efma. “Whether it’s the use of drones
to assess fire damage, connected devices that help reduce risks,
intelligent predictions to decrease accidents, or new technologies
like blockchain that help manage and pay claims faster –
innovations are changing the face of insurance.”
Recent research from Accenture highlights the importance of
innovation in the insurance industry, finding that insurers that
continuously innovate and adapt to changing customer needs will be
able to capture emerging growth opportunities and outperform
competitors. Specifically, the research found that North American
insurance carriers that embrace innovation could generate up to
US$128 billion in total new revenue, whether through new offerings
for emerging risks like cyber security and autonomous vehicles;
improved penetration of difficult-to-reach markets; value-added
services that help reduce customers’ risk; and harnessing existing
assets such as data, platforms and algorithms in new ways.
“The insurance industry can’t rest on its laurels in this era of
massive technological disruption,” said Michael Costonis, who leads
Accenture’s Insurance practice globally. “With today’s challenging
macroeconomic environment, changing customer behavior and wave
after wave of new regulations, technology’s role as an enabler has
never been more prominent. The Efma-Accenture Innovation in
Insurance Awards are a critical part of that process, recognizing
those who are pushing boundaries and stepping outside their
historical comfort zones to upend insurance as we know.”
The 2018 Efma-Accenture Innovation in Insurance awards canvass
the best solutions across eight categories:
- Artificial Intelligence:
Innovations that leverage the disruptive power of artificial
intelligence technologies – such as robotics, intelligent
automation, natural language processing, machine learning and
cognitive computing.
- Best Disruptive Product or Service
(special awards category – live vote onsite): Innovations that
enhance, extend or replace the traditional offering – creating new
profit pools by serving new or existing customer segments in new
ways and entering or creating new markets typically beyond the
reach of insurance players.
- Claims Management: Innovative
practices in claims management aimed at facilitating and/or
accelerating the claims management process or improving fraud
detection and prevention.
- Connected Insurance &
Ecosystems: Innovations that use the internet of things to
create new business models by combining insurance with technology,
ecosystem services and partners.
- Customer Experience &
Engagement: Innovations that radically enhance the way
insurance players engage customers. New approaches may include
seamless and personalized experiences across physical and/or
digital channels, new customer management (service) models, and
innovative management of customer loyalty and satisfaction.
- Global Innovator (special awards
category): The most-innovative insurer – i.e., the organization
whose corporate vision commits it successfully to continuous
innovation and transformation, to the development and leadership of
a broad ecosystem of partners extending beyond insurance, and to
the exploitation of emerging technologies that improve its
customers’ experience and the performance of its business.
- Insurtech: The creation and/or
application of innovative technology that substantially improves
any part of the insurance value chain, enhances the customer
experience, or explores new sources of value for insurers. New for
2018, this category recognizes the significant impact that
insurtechs – insurance start-ups and spin-offs and
insurance-specific technology firms – are having on the
industry.
- Underwriting: Significant
enhancement of the underwriting process through improved data
collection and analysis or other advances to support
personalization, efficiency and accuracy.
For information on the awards or to submit an entry, please
click here or visit www.efma.com/innovationininsurance/
Continue following the conversation on Twitter at
#InsAwards2018.
About Efma
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.
About Accenture
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 more than 435,000
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180301005232/en/
EfmaHannah Moisand, +33 6 77 43 02
32hannah@efma.comorAccentureMichael McGinn,
+1-917-452-9458m.mcginn@accenture.com
Accenture (NYSE:ACN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Accenture (NYSE:ACN)
Historical Stock Chart
From Sep 2023 to Sep 2024