February 18, 2016

Efma and Accenture Launch Global Insurance Awards to Reward and Foster Industry Innovation

Innovation case studies will be showcased in a portal accessible to all insurers

PARIS and NEW YORK; Feb. 18, 2016 – Efma, an association of 3,300 financial services companies from more than 130 countries, and Accenture (NYSE: ACN) have launched “Innovation in Insurance,” a program to identify and award the most-innovative insurance initiatives and projects around the world. Insurers are invited to apply from now through April 18 at www.efma.com/InsuranceInnovationsSubmit.

The Innovation in Insurance program solicits case studies of innovations by insurers within four categories: customer experience and engagement; digital and omni-channel distribution; claims management; and most-disruptive product or service. All submitted innovation case studies will be stored on a portal, forming the first-of-its kind global insurance innovation repository, which will be made accessible to all insurers.

Submissions will be assessed by a panel of judges comprised of senior executives in the insurance industry, which will identify a short list of nominees in each category. Efma members will then vote for the winners in each category, and a special award will be granted to recognize the ‘Global Insurance Innovator.’

Winners will be recognized at an award ceremony hosted by Efma and Accenture in Milan on June 9 during Efma’s Insurance Summit gala dinner (www.efma.com/insurance16).

“The insurance playing field will look dramatically different in a digitally connected future,” said John Cusano, global managing director of Accenture’s Insurance industry practice. “Disruption is happening at unprecedented speed, and tomorrow’s winners will be those that adapt proactively as the playing field and rules of competition evolve. Our objective in launching this joint initiative with Efma is to foster innovation in the industry and help insurers lead the change rather than suffer the consequences.”

Efma CEO Vincent Bastid said, “The Innovation in Insurance initiative follows the success of the Efma-Accenture Innovation for the retail banking sector program, which has attracted attention internationally, with more than 1,400 innovations submitted from 445 organizations across 83 countries. We’re excited about delivering the same for our insurance members by creating a place where insurers and banks’ insurance subsidiaries will be able to showcase their innovations and see the latest ideas, technologies and strategies adopted by their peers.”

Edwin VanderOuderaa, managing director, Accenture Digital, Financial Services, said, “Sweeping changes across consumer behavior, technology innovations and big data are reshaping traditional insurance business models and what it takes to compete. To succeed, insurers should re-imagine the way they operate and become truly customer-centric organizations. With the Innovation in Insurance initiative, we hope to help the industry reinvent itself.”

More information about the “Innovation in Insurance” award-ceremony and registration is available at www.efma.com/InsuranceInnovationsRegister.

About Efma
A global non-profit organization, established in 1971 by banks and insurance companies, Efma facilitates networking between decision-makers. It provides quality insights to help banks and insurance companies make the right decisions to foster innovation and drive their transformation. Over 3,300 brands in 130 countries are Efma members. Headquarters in Paris. Offices in London, Brussels, Barcelona, Stockholm, Bratislava, Dubai, Mumbai and Singapore. Learn more at www.efma.com

About Accenture
Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions – underpinned by the world’s largest delivery network – Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With approximately 373,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.

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Melissa Volin
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