Winners Announced for 3rd Annual Efma-Accenture Innovation in Insurance Awards

Efma, an association of more than 3,300 retail financial services companies in 130 countries, and Accenture announced the winners of the third annual Efma-Accenture Innovation in Insurance Awards.

Showcasing the best examples of insurance technology innovations in multiple categories, the awards competition this year attracted 320 entries from 237 institutions in 45 countries.

The winners of the Efma-Accenture Innovation in Insurance Awards 2018 are:

“It’s exciting to see so much innovation from companies around the world,” said Vincent Bastid, CEO of Efma. The Paris-based Efma was established in 1971 by banks and insurers to facilitate networking between decision makers and help companies foster innovation and drive transformation.

“The number of submissions we’ve seen this year shows that insurers are facing disruption head-on, with advancements in customer service, personalization, and mobile applications through a combination of AI & Big Data. Congratulations to all of this year’s winners for their achievements,” he added.

“Innovation in insurance shouldn’t just be the domain of insurtechs and other startups. Insurers from around the world are embracing new technologies to develop innovations around the customer experience, transform their operations and create new efficiencies,” said Jean-Francois Gasc, Dublin-based Accenture’s insurance strategy lead for Europe, Africa and Latin America. “The winners highlight how the use of AI, machine learning and the internet of things are reinventing insurance.”

The winners were selected through a combination of votes by a panel of judges comprising senior insurers and from around the world and by Efma members and non-members from insurance institutions online. Each entry was 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.

To find out more about the award-winning innovations, visit the Efma’s Innovation in Insurance web portal or follow Twitter at #InsAwards18.

Source: Efma and Accenture