Viewpoint: Innovation Trends Through the Lens of Qorus-Accenture Innovation Awards

Viewpoint: Innovation Trends Through the Lens of Qorus-Accenture Innovation Awards

The winners of the Qorus-Accenture Innovation in Insurance Awards were announced recently at a live ceremony in Milan, bringing together the industry’s trendsetters and pioneers. Now in its eighth year, this program has served as a catalyst for insurance innovation, pushing boundaries, fostering collaboration and creating meaningful impact.

As carriers continue to face disruption, there’s no doubt that insurance has remained incredibly resilient in the face of constant change, and we see the associated challenges and opportunities directly reflected in our award entries. This year was no different, with more than 350 submissions from 223 institutions in 43 countries, representing start-ups to the world’s largest financial organizations.

Every year, following the conclusion of each awards ceremony, our research team manually analyzes data from hundreds of entries and produces a short report which acts as an industry pulse, highlighting the key trends shaping the future of insurance.

This year, in the spirit of innovation, Accenture used Generative Artificial Intelligence (Gen AI) to help us distill and uncover these trends, feeding submissions securely into the Gen AI model. Work that usually takes the team hours was completed in minutes, meaning they could focus on the higher value task at hand – providing actionable guidance for insurers as they tackle the headwinds and tailwinds of our world today. Let’s take a look at the six trends the model identified.

Zurich in Brazil exemplifies this trend with its Remote Diagnosis in Claims service that examines insured appliances using photographs or a video, determines how it should be repaired and then schedules a technician to perform the repair.

For example, Discovery has enhanced its Vitality wellness program to provide its members with more personalized incentives to improve their health. The South African insurer is using data analytics to identify the most important action a member should take to increase their “healthspan” – years lived in good health. Its Vitality Next Best Action plan then encourages members to take action, using various prompts and incentives, and thereafter tracks their progress.

French managing general agent (MGA) Datafolio is looking to capitalize on the rise of digital mobility platforms that allow users to hire cars, motorbikes, scooters and bicycles on demand. It has developed a pay-as-you-go insurance offering, which can be embedded in the apps of mobility service providers, that charges for cover according to the customer’s traveling distance and driving behavior.

The use of advanced analytics and personalization will not only help insurance companies to increase customer satisfaction and loyalty but also drive revenue growth and improve overall business performance.



This trend is driven by the global push towards reducing greenhouse gas emissions and transitioning to a low-carbon economy, as well as the increasing awareness of the impacts of climate change on business operations and the associated long-term financial risks.

Brazilian insurer Bradesco Seguros has reinforced its support for sustainability and social upliftment by launching a recycling service that collects, salvages, disposes and tracks automotive waste. The company’s Automotive Ecological Disposal service, a partnership with Ecoassist Serviços Susteníveis, currently operates in São Paulo and plans to extend it to other cities.

We’ve seen innovation in this space from B4E Insurtech, a Canadian digital platform empowering reinsurers, insurers, MGAs and intermediaries to design, develop and market affordable, fit-for-purpose inclusive insurance products for every customer segment. The insurtech aims to facilitate economic well-being across the underserved and ensure adequate financial continuity for all.

A great example here comes from Portugal, where insurer Fidelidade has expanded its pet insurance offering into a far-reaching ecosystem. The MyPets ecosystem includes pet liability and health insurance, gamification incentives and rewards, partnerships with animal food and care providers, and a digital information platform. Fidelidade also plans to add an app-based pet tracking facility.

To conclude, it is an exciting, hopeful time to be in insurance, as seen through the lens of this year’s Innovation in Insurance Awards. These trends, and the winning innovations driving them, illustrate how insurers are proactively building exciting new solutions to our greatest challenges and opportunities.