Innovation in insurance trends 2019: Showcasing successes in digital transformation

in partnership with

Accenture

Logo of Accenture

Accenture is a leading global professional services company, providing a broad range of services and solutions...

View more
premium
Q+
03/10/2019Study
While digital technology is rapidly reconfiguring all industries, insurance is among the most vulnerable to disruption. But as is the case every year, the Efma–Accenture Innovation in Insurance Awards for 2019 show that many insurance organizations are taking the opportunity to lead the next wave of innovation rather than fall victim to it.

The 2019 awards attracted nearly 400 entries, up from 320 in 2018. This highlights how traditional insurers and insurtechs are transforming a once stable and conservative industry into one that is vibrant and replete with new ideas and fresh value propositions.

Incumbents and disruptors alike are delivering hyper-relevant services, products and solutions that are changing the face of the industry. Those that are succeeding in their transformation efforts are becoming what we call Living Businesses—responsive, agile organizations that lead the market in sustainable growth.

What sets these companies apart from the rest? They have a better understanding of the changing digital needs of their customers; can pivot their growth strategies towards profitable areas beyond the core; and fund new growth by optimizing costs elsewhere. These market leaders have the ability to flex and adapt to make their business and its offerings more engaging, relevant and useful to the customer.

Want to keep reading?

Become a Qorus member to get access to all our insights

Related news & insights

Insurance
28/03/2025Video

AXA Partners: Solar panel insurance for energy independence and climate action

David Fischer, Head of Marketing and Innovation for Motor & Home at AXA Partners, explains how they have developed a...

Digital Reinvention
27/03/2025Article

Financial Innovation Spotlight – March 2025 edition

This month’s Financial Innovation Spotlight features five eye-catching initiatives from around the world by Burbank, KasikornBank, ING Spain, CIMB Bank...

Insurance
24/03/2025News

Hanwha Life fuels AI innovation in Vietnam through Informatics Olympiad sponsorship

Hanwha Life is reinforcing its commitment to technological innovation and talent development in Vietnam by sponsoring the 6th Vietnam Informatics...

Insurance
20/03/2025Article

Vote now to decide on the 2025 Innovation in Insurance Awards winners!

Discover this year’s nominees and vote!

ESG
19/03/2025News

NTUC LearningHub launches Green Academy to support SMEs in sustainability transformation

NTUC LearningHub has officially launched the NTUC LHUB Green Academy, a new initiative aimed at promoting sustainability skills and workforce...

Insurance
17/03/2025Interview

At work with Bernardino Gómez Aritmendi

Bernardino Gómez Aritmendi, CEO of Bansabadell Vida, Bansabadell Seguros Generales and Bansabadell Pensiones, shares his insights and experience in a...

Digital Reinvention
11/03/2025Article

Qorus and Infosys Finacle launch the 2025 edition of the banking innovation awards

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, and Qorus, a global association of banks and insurance...

Insurance
11/03/2025News

Ping An expands travel benefits with SmartDelay for Hong Kong customers

China Ping An Insurance (Hong Kong) has introduced new travel benefits for its online travel insurance customers through a partnership...