The Innovation in Insurance Awards from Qorus and Accenture are now open to claim
Insurers and insurtechs invited to apply for the global innovation recognition competition
PARIS, NEW YORK and HONG KONG; February 22, 2023 – Qorus and Accenture (NYSE: ACN) today launched the eighth edition of the Innovation in Insurance Awards to celebrate the best ideas and projects that are transforming the industry.
Launched in 2016, the program provides a forum for companies to share best practices and continues to witness the evolution of insurance in a changing world. Last year, 398 entries from 251 institutions from 44 countries were submitted for the awards.
Companies have until April 6, 2023 to submit their entries online in the following seven categories: Global Innovator (overall winner) – the most innovative insurer, demonstrating innovation in its strategic direction, business practices and practical results. The winning organization is committed to continuous innovation and transformation, developing a broad ecosystem of partners that goes beyond insurance, and leveraging new technologies for enhanced customer experience and business performance. To qualify, the participant must have submitted at least three innovations in the other six categories and be invited to apply. Connected ecosystems and marketplaces – new business models and scalable end-to-end value propositions that benefit from the power of partnerships, platforms, new technologies and insurtech. Entries can be submitted by established companies, specialist players and other new competitors. Insurtech – Reserved for insurance startups, spin-offs and tech companies using technology to reinvent the customer experience while creating new value for insurers. This category is for companies specifically targeting the insurance industry with stage one funding, a go-to-market proposal and/or a successful proof of concept in the marketplace. Product and Service Innovation – Innovations that augment or replace traditional insurance offerings and create new revenue streams through expansion into new and existing customer segments and markets. Customer Experience Redesign – Innovations that improve the way businesses interact with new or existing customers across physical and/or digital channels, new customer management models, artificial intelligence-based consulting, and innovative management of customer loyalty and satisfaction. Social, Sustainable and Responsible – Advances in the social purpose and commitment of the insurer to be a good corporate citizen and a true ally to its customers. This category covers the full definition of sustainability, from environmental and climate action and risk management to strategies for building communities and promoting inclusive insurance. Workforce Transformation – Bringing together people, culture, leadership, organization and technology to enable the insurer to realize the full potential of the human and machine workplace. Each entry will be judged on three criteria: originality; long-term strategic impact and return on investment; as well as their wider applicability in other markets and countries.
“Since the awards’ inception, we have highlighted the innovative insurers and innovations that have set inspiring levels of performance for others in this space,” said John Berry, CEO of Qorus. “As last year’s program demonstrated, the industry is continually shifting to a consumer-centric model. We are confident that this year’s awards will once again highlight the exceptional solutions insurers are implementing as they adapt to new lifestyles, reinvent their role and drive industry reinvention.”
Silvia Milian, Managing Director of Accenture’s insurance industry group, said: “In recent years we have seen an increase in posts focused on sustainability, connected ecosystems and the convergence of health and well-being, pointing to broader industry trends. Driving new innovation in products, distribution and processes is critical to respond to rapid market changes and build a sustainable and responsible insurance industry.”
Winners will be selected by a panel of senior insurance executives from around the world and an online vote by Qorus members and non-members of insurance institutions. Winners will be announced at an awards ceremony on June 14, 2023.
To learn more about the awards and how to submit an entry, visit innovationinsurance.qorusglobal.com
About Korus
Qorus (formerly known as Efma) is a global non-profit association founded in 1971 by banks and insurance companies. He helps his members reinvent themselves to succeed – go further, be faster and work together. Its global ecosystem brings together valuable insights, inspirational events, rich data and active global communities in one place. With over 50 years of experience, Qorus offers a neutral space for best-practice exchange and collaboration, while providing diverse knowledge and global reach – serving more than 1,200 financial groups in over 120 countries. Headquartered in Paris, Qorus serves financial institutions on every continent with offices in Andorra, Bangkok, Bratislava, Brussels, Dubai, Istanbul, Kuala Lumpur, London, Milan, Seoul and Tokyo. Learn more at www.qorusglobal.com
About Accenture
Accenture is a leading global services company that helps the world’s leading businesses, governments and other organizations build their digital core, streamline their operations, accelerate revenue growth and improve citizen services — delivering tangible value quickly and at scale create. We are a talent and innovation-driven company with 738,000 employees serving customers in more than 120 countries. Technology is at the heart of change today, and we are one of the global leaders in driving that change with strong ecosystem relationships. We combine our technological strength with unmatched industry experience, functional know-how and global delivery capability. We are uniquely positioned to deliver tangible results through our broad range of services, solutions and assets across Strategy & Consulting, Technology, Operations, Industry X and Accenture Song. These skills, along with our culture of shared success and commitment to creating 360° value, enable us to help our clients succeed and build trusting, lasting relationships. We measure our success by the 360° value we create for our customers, each other, our shareholders, partners and communities. Visit us at www.accenture.com.
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Contacts:
Yana Lednarova
Qorus
+421 915 225 611
[email protected]
Victoria Holmes
Accenture
+44 7446 277749
[email protected]
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