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 carriers 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 carriers globally, 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 carriers, regardless of size or region, that others will follow.
Categories for consideration under Property and Casualty Claims Process will consider two regions: North America and EMEA
1. Customer Experience: Initiatives that improve how customers digitally interact with carriers throughout the claims process. These initiatives should support making policyholders whole in the event of a loss by reducing friction, reducing inconvenience, increasing transparency, and increasing choice.
2. Operational Efficiency: Initiatives leading to improvements in operational processes, often through enhanced workflow such as: FNOL, coordinated repair efforts among key stakeholders, scalable claim adjustment efforts, and faster claim payments.
3. Artificial Intelligence and/or Advanced Analytics: Initiatives that leverage AI or advanced analytics in support of any claim process, whether it is damage assessment, fraud detection, or data intake.