innovation News

Winners Announced for 6th Annual Efma-Accenture Innovation in Insurance Awards

The winners of the sixth annual Innovation in Insurance Awards have been announced by Efma and Accenture, which jointly established the awards in 2016 to recognize technology innovation. At a virtual ceremony, Generali was a big winner, receiving four out …

Lloyd’s Lab Picks 11 Insurtech Start-ups, Focused on Product Simplification, Climate

Lloyd’s announced the next 11 insurtech start-ups that are participating in the sixth cohort of its Lloyd’s Lab innovation accelerator program. These insurtechs will be focused on creating simpler products for customers, including building solutions related to climate risks. This …

Efma and Accenture Launch 6th Annual Innovation in Insurance Awards

Efma and Accenture are now accepting applications for the sixth annual Efma-Accenture Innovation in Insurance Awards, which recognize insurers and insurtechs that are transforming the insurance industry. Established in 2016, the awards celebrate the most innovative projects and ideas in …

Munich Re Forms Partnership to Help Create ‘Pay-Per-Part’ Model for Manufacturers

The TRUMPF Group and Munich Re Group are entering into a strategic partnership for a “pay-per-part” business model, which enables customers to use a full-service laser machine without having to buy or lease any equipment. Instead, customers pay a previously …

Lloyd’s Launches Biz Interruption Insurance Policy for SMEs, Led by Tokio Marine Kiln

Lloyd’s has launched a new “first-of-its-kind” business interruption policy for small-and-medium-sized enterprises (SMEs), specifically designed to protect them against IT disruption or downtime. Parametrix Insurance offers simple and reliable coverage by removing the traditional indemnity trigger that most insurance policies …

ACORD’s Innovation Tools Experiencing Soaring Reinsurance Demand

ACORD, the standard setting body for the global insurance industry, is experiencing a massive jump in global reinsurance and other industry interest in its digital products and services, CEO Bill Pieroni said. The increase comes as reinsurers and carriers, already …

WTW Names Shaw as Global Head of Data, Analytics & Innovation, Global Facultative

Willis Towers Watson announced the appointment of Fiona Shaw as its new head of data, analytics and innovation for its Global Fac division. Shaw has extensive insurance, reinsurance and analytics experience having spent 30-plus years at Willis Towers Watson, initially …

Lloyd’s Innovation Accelerator Focuses on COVID-19 Market Response with 3 Insurtechs

Lloyd’s has started work with three insurtech startups to help the market respond to the COVID-19 pandemic. As part of its package of measures to respond to the COVID-19 pandemic, Lloyd’s has expanded the scope, process and timings for new …

Winners Announced for 5th Annual Efma-Accenture Innovation in Insurance Awards

Efma, an association of more than 3,300 retail financial services companies in 130 countries, and Accenture, the professional services company, have announced the winners of the fifth annual Innovation in Insurance Awards during a virtual awards ceremony. The awards competition, …

RMS CEO White: Embracing Change in a Transforming Industry

During her career, Karen White, the CEO of RMS, has had a front-row seat to observe what happens with companies and industries in transformation and how enormous value—and disruption—can be created. While some people are afraid of change, White embraces …