Life Insurance International (LII) has revealed the prestigious winners of the Life Insurance International Innovation Awards 2017.
This year’s winners were commemorated during a gala dinner ceremony at the Tower Hotel in London on Thursday, 16th November 2017.
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The awards celebrate the best in life and health insurance innovation from around the world and act as a benchmark for excellence.
There were 8 contested award categories alongside two Editor’s Choice awards.
Phil Loney from Royal London Group won Personality of the Year.
Other winners included Aditya Birla Health Insurance which won the Most Innovative Life / Health Insurance Start-Up; Digital Innovation – Insurers; and Best Use of Social Media & Most Engaging Customer Experience.
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By GlobalDataKeylane was the winner of the category Digital Innovation International – Technology Firms.
OPAL and Square Health also claimed the Best Business Transformation and Digital Innovation UK & Ireland – Technology Firms awards respectively.
Get Set for a Digital Revolution
The awards were preceded by the Life Insurance International Innovation Forum themed – “Innovate or Become Extinct”
During the forum, top industry experts that included the likes of Steve Webb, director of Policy & External Communications, Royal London; Eoin Lyons, CEO, Opal; & Andrew Bulley, Partner EMEA Centre for Regulatory Strategy, Deloitte gave their different perspectives on how they see the industry evolving and growing.
To round off a busy, insightful and exciting programme, the closing session looked at the future of life and health insurance and asked pressing questions around different strategies we should take to deal with Brexit; the role of InsurTechs in the market; and the possibility of replacing human doctors with AI and robots.
Ronan McCaughey, editor of Life Insurance International, said: “Any laggards in the global life and health insurance market who fail to fully embrace the digital revolution will quickly find themselves left behind as the market leaders invest in new technology from wearables to Blockchain and Big Data.”
“Technological disruption, the threat of new market entrants and significant regulatory change mean sticking with the status quo is not an option for life and health insurance players worldwide.”
He commented: “The calibre and quality of the submissions for the this year’s Life Insurance International Innovation Awards 2017 was extremely high.
“Our award winners have clearly demonstrated innovation in terms of improving their processes, improving the customer experience and embracing a culture that encourages new ideas, radical thinking and openness to change.”
McCaughey added: “The award winners are to be congratulated for accelerating innovation, and embedding the behavioural and cultural changes needed to sustain growth.”
The winners of the Life Insurance International Innovation Awards 2017 in full are:
Most Innovative Life / Health Insurance Start-Up
Aditya Birla Health Insurance
Digital Innovation – Insurers
Aditya Birla Health Insurance
Digital Innovation UK & Ireland – Technology Firms
Square Health
Digital Innovation International – Technology Firms
Keylane
Most Innovative Health Insurer
Generali Global Health
Most Innovative Life Insurer
Ping An
Best Use of Social Media & Most Engaging Customer Experience
Aditya Birla Health Insurance
Best Business Transformation
OPAL
Personality of the Year
Phil Loney from Royal London Group
Editor’s Choice Awards: 2017
Beagle Street
RGA – Most Innovative Reinsurer of the Year
