About the awards
This global competition is a showcase of the most exciting and effective innovations that are taking advantage of emerging technologies and responding to the disruption and opportunities in insurance.
A rigorous, independent judging and voting process ensures the credibility of the awards. The awards ceremony is recognized as the premier annual gathering of insurance innovators and their ideas worldwide
There is no charge to enter, or to participate in the awards ceremony if you are a finalist.
Why enter?
• Help promote a culture of innovation in insurance
• Achieve the recognition of your colleagues
• Be acknowledged by your industry peers
• Gain public acclaim for your organization as an innovation leader
• Network with other executives who are driving innovation
• Benchmark your innovation against those of other insurers
• Be inspired by the creativity and boldness of your peers
Our criteria
An innovation committee shortlists the best innovation in each category based on 4 criteria:
Originality: The uniqueness of the idea in the marketplace and its potential as a game-changer.
Impact: The innovation’s capacity to generate a superior, long-term competitive edge. This includes KPIs such as RoI, NPS, cost reduction, churn rate, employee engagement score, customer lifetime value (CLV), time reduction, carbon footprint, etc.
Universality: The innovation’s potential to be relevant and/or adapted for use in other markets, or even industries.
Form Quality: A detailed description of the innovation in its various phases, its results, and the addition of presentation slides, videos, or images to visualize and better understand the project.
Key dates
Categories
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Operational Efficiency
This category awards insurance companies that have successfully navigated the complexities of process re-engineering and smarter operations, laying the groundwork for profitable growth. Initiatives cover scalable processes that drive improved efficiency to support a faster pace of growth for the company’s revenue stream and asset base than for its overhead costs.
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Product & Service Innovation
Innovations that significantly enhance, extend or replace the traditional offer, creating new profit pools by serving new customer segments or existing segments in new ways, and entering or creating new markets typically beyond the reach of insurance players.
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Re-imagining the Customer Experience
Innovations that significantly enhance the way companies engage with customers. These new approaches create value through, for example, seamless and personalized experiences across physical and/or digital channels, new customer management models, artificial-intelligence-driven advice, and innovative management of customer loyalty and satisfaction.
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Social, Sustainable & Responsible
Innovations that advance Insurance’s social purpose and its commitment to being a good corporate citizen and a true ally of its customers.
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Workforce Transformation
Innovations that successfully bring together people, culture, leadership, organization and technology, enabling the insurer to realize the full potential of the human and machine workplace.
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Insurtech
The creation and/or application of innovative technology that substantially enhances the customer experience and/or develops new sources of value for insurers. This category is reserved for insurance start-ups and spin-offs, and technology firms targeting the insurance industry. Innovations must be stage-one funded, have a market release proposition, and/ or have completed a successful market proof of concept.
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Embedded Insurance Innovators
Innovative embedded insurance solutions offered by companies across various sectors, including OEM, travel, retail, and healthcare, as well as insurance companies and brokers. It celebrates the integration of insurance products into the customer journey, providing seamless protection within the purchasing experience.
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Last but not least... special awards categories for 2025
GEN AI INNOVATION OF THE YEAR
Groundbreaking solutions that leverage generative AI to enhance processes, products, and customer experiences within the insurance industry in areas such as underwriting, claims processing, risk assessment, and customer engagement. You cannot submit your innovation in this category, with nominees selected from the awards categories above.
GLOBAL INNOVATOR OF THE YEAR
The most innovative insurer that displays innovation in their strategic direction, business practices and practical outputs. The winning organization’s corporate vision is fully committed to continuous innovation and transformation, to the development and leadership of a broad ecosystem of partners extending beyond insurance and to the strategic use of emerging technologies that improve the experience of its customers and the performance of its business. Winners must have submitted entries in at least three categories and be invited to submit to the Global Innovator category.
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Get in touch
Want to get in touch regarding the submission process, invitations or sponsoring this event? Please write us at innovation@qorusglobal.com
