Innovation Award of the Swiss Insurance Industry
Basler Versicherungen, Commercial Insurance Zurich, Axa and CSS have won the Swiss Insurance Innovation Award 2017.
The Swiss Insurance Innovation Prize is awarded annually by the trade magazine "Schweizer Versicherung", by the Institute of Insurance Economics at the University of St. Gallen, by the Swiss Brokers Association SIBA and by the auditing and consulting firm EY Switzerland. This year's prize was presented to the winners at a ceremony.
The award is not given for a single product or service, but for an innovative, holistic approach to driving product development forward thanks to cooperations, especially with InsurTech companies.
First prize to Basler Versicherung
"The customer of tomorrow is considered a 'digital native' and expects that all stages of the customer journey for insurance can be handled digitally. Compared to other industries such as music or tourism, the insurance industry still has some catching up to do in this respect," Professor Alexander Braun emphasized in his speech.
"Baloise goes Start-up" stands for a series of innovative insurance products around the topics of moving, living, cyber risk or luxury goods (specifically: luxury watches). The insurance product is characterised by:
- a fast and convenient closing (mobile, under two minutes)
- Use of modern technologies (image recognition algorithms, artificial intelligence)
- Animations and other features (emotional sales process)
The award winners 2017
- Rank: Basler Versicherungen for product development thanks to cooperations
- Rank: Zurich Commercial Insurance for Cognitive Computing
- Ranking: Axa Winterthur for health care
Special prize: CSS for "QualiCheck"; special prize: Roland Betschart for constant innovative strength.
About the Innovation Award
The three main objectives of this award are to provide a platform for insurance companies as well as brokers:
- to show that the insurance industry is an exciting sector that offers solutions with a high level of innovation
- in order to present themselves to their customers as an innovative supplier
- to position itself as an attractive employer both internally with existing staff and externally with potential employees.
The evaluation is carried out from a holistic perspective and on the basis of criteria such as pioneering work, customer benefits, benefits for the insurance company, overall concept, possible impact/market resonance. However, it is not a scientifically based award, but the result of the jury's opinion, based on the submitted documents and their own experience.
Upcoming dates
Deadline for product entries: September 3, 2018; Awards ceremony: late fall 2018.
www.innovationspreis-assekuranz.ch
