Entries are now being accepted for Aite Group’s First Annual Insurance Innovation Awards. Entry submissions must be received by September 25, 2020. The winners will be announced on November 18, 2020.
What is an Impact Innovation Award (IIA)?
Customer needs and expectations continue to evolve globally, and health plans and banks must strive to stay one step ahead. Their capabilities and the breadth of their product portfolios must go beyond what has traditionally been offered to address new market challenges and capture new opportunities. Aite Group’s Impact Innovation Awards are designed to recognize and celebrate innovation achieved by health plans and banks engaged in healthcare payments, leveraging game-changing technology in setting the bar to surpass the new status quo. Award recipients are leading the industry by identifying and implementing new products, capabilities, and/or levels of automation and effectiveness that are bringing the industry one step closer to next-generation customer experiences. They are the health plans or banks, regardless of size or region, that others will follow.
Categories for consideration under Health Insurance Payments will consider the U.S. market. Payments markets under consideration include ways customers interact with health plans, healthcare providers and/or banks through their consumer to business payments services (e.g. medical bill payments) and providers through their business to consumer payments services (e.g. patient refunds)
1. Customer Experience: Leading to improvements in ways customers interact with carriers including improvements to look and feel, ease of use, and/or digital capabilities
2. Operational Efficiency: Leading to improvements in operational processes, often through enhanced workflow
3. Digital Channel Capabilities: Better leverage various digital channels to meet customer needs and that focus on new capabilities within the online and mobile channels
4. Artificial Intelligence and/or Advanced Analytics: Initiatives leading to improvements in information dissemination and business intelligence for the provider/carrier or its customers
Requirements for Participation
1. Only health plans, banks or vendors with explicit consent from their health plan/provider/bank clients can submit the nominations
2. There are no restrictions in terms of size or location within North America
3. Nominated innovations must be in production
4. All nominees must be willing to allow Aite Group to publicly announce and describe their initiative should they win.