March 01, 2018

Efma and Accenture Announce Ceremony to Honor North American Winners of Their Global ‘Innovation in Insurance’ Awards

PARIS and NEW YORK; Mar. 1, 2018 – For the third edition of their annual Innovation in Insurance Awards, Efma and Accenture (NYSE: ACN) are introducing a North-American awards ceremony, to be held in New York on Oct. 24, following the global awards ceremony in Paris on June 12.

Accenture and Efma, a global association comprising thousands of insurance and banking members, launched the global Efma-Accenture Innovation in Insurance Awards program in 2016 to showcase the most exciting and effective innovations in insurance. Although North American insurers will be among the global winners, the New York event will spotlight the best submissions from U.S. and Canadian insurers.

“These awards recognize insurers that are leading innovation and reveal the current state of the industry and where it is going,” said Vincent Bastid, CEO of Efma. “Whether it’s the use of drones to assess fire damage, connected devices that help reduce risks, intelligent predictions to decrease accidents, or new technologies like blockchain that help manage and pay claims faster – innovations are changing the face of insurance.”

Recent research from Accenture highlights the importance of innovation in the insurance industry, finding that insurers that continuously innovate and adapt to changing customer needs will be able to capture emerging growth opportunities and outperform competitors. Specifically, the research found that North American insurance carriers that embrace innovation could generate up to US$128 billion in total new revenue, whether through new offerings for emerging risks like cyber security and autonomous vehicles; improved penetration of difficult-to-reach markets; value-added services that help reduce customers’ risk; and harnessing existing assets such as data, platforms and algorithms in new ways.

“The insurance industry can’t rest on its laurels in this era of massive technological disruption,” said Michael Costonis, who leads Accenture’s Insurance practice globally. “With today’s challenging macroeconomic environment, changing customer behavior and wave after wave of new regulations, technology’s role as an enabler has never been more prominent. The Efma-Accenture Innovation in Insurance Awards are a critical part of that process, recognizing those who are pushing boundaries and stepping outside their historical comfort zones to upend insurance as we know.”

The 2018 Efma-Accenture Innovation in Insurance awards canvass the best solutions across eight categories:

For information on the awards or to submit an entry, please click here or visit

Continue following the conversation on Twitter at #InsAwards2018.

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

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 more than 435,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at

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Michael McGinn
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