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.

Publish date: 10 December 2020
Author: Accenture
Theme : Innovation

Established in 2016, the awards celebrate the most innovative projects and ideas in insurance and provide a forum for organizations to share best practices. Last year’s awards received 360 entries from 240 insurance companies across 45 countries.

The categories for the Efma-Accenture Innovation in Insurance Awards 2021 are:
• Global Innovator (overall winner)
• Connected Insurance & Ecosystems
• Core Insurance Transformation
• Customer Experience
• Insurtech
• Product & Service Innovation
• Workforce Transformation

Companies can submit their entries online by April 2, 2021. 

Each entry will be assessed using three criteria: originality; strategic capacity to generate long-term competitive edge and return on investment; and adaptability for use in other markets and countries. 

Winners will be selected by a panel of judges of senior insurers and an online vote by Efma members and non-members from insurance institutions. The winners will be announced at a virtual awards ceremony on June 3.

“These awards continually highlight the most forward-thinking players in the industry,” said Jean-Marc Pailhol, Efma’s new chairman. “We have seen the pandemic accelerate trends that were already changing the insurance industry, including increased digitization, new ecosystems and open insurance. Our awards program will show how insurers are improving, transforming or even reinventing their organization, offerings and business model to face the new reality in front of them. We are already excited to discover the innovative tools and initiatives they are implementing.”

Jean-François Gasc, a managing director at Accenture who leads its Insurance strategy practice in Europe, said, “Leading insurers and insurtechs are developing innovative tools that are reimagining the traditional role insurance has played in peoples’ lives. Our awards aim to recognize those exciting players who are putting the customer at the heart of their business and innovating in the insurance industry, particularly at a time when digital services have never been so important.”

To find out more about the awards and how to submit an entry, visit innovationininsurance.efma.com or follow the conversation on Twitter at #InsAwards21.