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Winners Introduced for sixth Annual Efma-Accenture Innovation in Insurance coverage Awards

The winners of the sixth annual Innovation in Insurance coverage Awards have been introduced by Efma and Accenture, which collectively established the awards in 2016 to acknowledge know-how innovation.

At a digital ceremony, Generali was a giant winner, receiving 4 out of a complete of seven awards. This yr’s competitors attracted 460 entries from practically 300 establishments in 55 nations — 100 extra submissions than obtained in 2020.

The winners of the Efma-Accenture Innovation in Insurance coverage Awards 2021 are:

  • AXA XL (USA) obtained the Related Insurance coverage & Ecosystems 2021 award for the AXA XL Building Ecosystem, a digital community of modern services and products centered on advancing know-how adoption amongst development prospects to assist them cut back enterprise danger, clear up buyer points and enhance enterprise outcomes.
  • Discovery (South Africa) gained the Core Insurance coverage Transformation 2021 award for AI Quote. Utilizing AI Quote, brokers and purchasers can add a PDF or photos of competitor insurance coverage and funding paperwork through telephone or desktop and obtain an equal Discovery quote in seconds.
  • Generali Welion (Italy) obtained the Buyer Expertise 2021 award for its WelionAPP. With COVID-19 placing a pressure on the healthcare system in Italy, the WelionAPP helps its customers extra simply entry well being companies for every day and specialised wants and ebook a session.
  • HITS, a Generali Group firm (Switzerland) gained the Insurtech 2021 award for bAIby, an AI-based child cry translator that acknowledges a child’s 5 primary wants, co-developed with Zoundream.
  • Baloise (Luxembourg) was named the winner of the Product & Service Innovation 2021 award for its Drive Electrical insurance coverage, which insures electrical autos and in addition gives key value-add companies to assist prospects make the change to electrical, together with help to arrange a charging station at residence, and granting entry to 180,000 recharging stations throughout Europe.
  • Assicurazioni Generali (Italy) gained the Workforce Transformation 2021 award for the We SHARE App, the primary app the insurer has created on the group degree to succeed in workers worldwide. It gives updates on a share plan for group workers, presents a monetary literacy program, and gives firm information.
  • Assicurazioni Generali (Italy) was named World Innovator 2021 for its innovation in introducing a number of merchandise, together with its Sensible Automation Centre of Excellence, the Car Possession Lifecycle Digital Administration, and its use of AI-augmented underwriting, which makes use of geospatial information.

The winners have been chosen throughout seven classes by a panel of 25 judges, together with senior executives from insurers worldwide. Every entry was assessed utilizing three standards: originality, strategic capability to generate long-term aggressive edge and return on funding, and flexibility to be used in different markets and nations.

“With the pandemic, 2020 and 2021 will little doubt stand out in historical past as being out-of-the-ordinary years,” mentioned John Berry, Efma CEO. “Insurance coverage gamers have needed to face many challenges, requiring them to adapt their choices and distribution fashions. On this context, I used to be impressed by each the standard and the relevance of the tasks submitted this yr. I congratulate the winners and all those that made submissions, demonstrating their agility find customer-focused options in a fast-evolving world.”

Daniele Presutti, who leads Accenture’s Insurance coverage business group in Europe, commented: “The insurance coverage business has moved quick to accommodate the huge modifications brought on by the pandemic. The business is accelerating the tempo of transformation, leveraging cloud, information, and ecosystems to deliver modern companies and choices to market, like danger recommendation and prevention strategies. We had one other nice spherical of submissions this yr—these firms are main change, and never only for this sector—they carry new worth to prospects and the ecosystem.”

About Efma and Accenture

A non-profit group created in 1971 by main banks and insurance coverage firms, Efma facilitates networking between decision-makers. Headquartered in Paris, Efma contains a community of 120 monetary teams in 133 nations.

Accenture is a world skilled companies firm, specializing in digital, cloud and safety. Accenture’s Insurance coverage follow helps P&C insurers, life carriers and reinsurers to redefine their enterprise and working fashions, improve the digital expertise for purchasers, and place themselves for progress in a digital economic system.

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