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Questions



For questions, please contact:

Karen Furtado
SMA Partner
978-239-2741


 

 


 

Deadline has passed. No longer accepting submissions.

 



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SMA Innovation in Action Awards

Every year, Strategy Meets Action presents the SMA Innovation in Action Awards to insurers, MGAs, and solution providers who are rethinking, reimagining, and reinventing the business of insurance. These companies are putting innovation into action with creative projects/initiatives and use of emerging tech and InsurTech solutions that further insurers’ and MGAs’ progress toward becoming future-focused organizations.

Background

Innovation is an indispensable element of every insurer’s vision of their future state, and one of SMA’s Seven Fundamentals for a Future-Ready Organization. It enables new approaches in the other six Fundamentals: the digital insurer, customer experience, core transformation, data and analytics, emerging tech, and InsurTech. Together, these Seven Fundamentals power the cultural shifts necessary for the advancement and sustainability of our industry. 

 

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Winners of the SMA Innovation in Action Awards align to one or more of these Seven Fundamental Areas that are reshaping insurance business models, creating new value-added services, and/or achieving a competitive advantage. Submissions must go beyond the traditional investments in one or more of these fundamental areas and demonstrate truly game-changing results to be considered for an award:

Digital Insurer

  • Projects, initiatives, or solutions that deliver an end-to-end digital experience for the external customer or internal operations and advance the company’s digital strategy and plans.

Customer Experience

  • Projects, initiatives, or solutions that establish new possibilities for personalized, progressive customer experience and enact major improvements in the ease of doing business. 

Core Transformation

  • Projects, initiatives, or solutions that go beyond modernizing core systems to enable substantive digital transformation through new, future-focused computing capabilities, including microservices and serverless computing. 

Data & Analytics

  • Projects, initiatives, or solutions that deploy cutting-edge analytics such as AI (cognitive computing, etc.), data lakes, or other types of predictive analytics to expand the possibilities of data-driven decision making using both structured and unstructured data from new and existing sources. 

Emerging Tech

  • Projects, initiatives, or solutions that represent a robust and groundbreaking deployment of one or more emerging technologies (artificial intelligence, autonomous vehicles, Internet of Things, virtual/augmented reality, drones/aerial imagery, wearable devices, advanced robotics, gamification, new user interaction technologies, new payment technologies, biotechnology, 3D printing, and blockchain). 

InsurTech

  • Projects or initiatives that successfully leverage InsurTech partnerships, services, methods, or solutions beyond proof of concept for demonstrable benefit. InsurTech startups and greenfield insurers also fall into this category.

Innovation

  • Projects or initiatives that formalize and develop an innovative culture and a next-generation company, such as the deployment of formal innovation practices or the launch of sophisticated external labs that create a sustainable cultural change and definable results.

 

Submission Information

Submissions will be evaluated for innovation and impact on one or more of the Seven Fundamental Areas listed above. To be eligible for consideration, the project, initiative, or solution implementation must have been completed between January 1, 2017, and April 30, 2018.

 

Insurer Award

2015 awards buttons insThe SMA Innovation in Action Insurer Awards recognize insurers and MGAs who are proactively transforming their companies through innovative business and technology projects/initiatives. The winning entries will demonstrate how the project is an example of innovation in action, enabling the company to make significant transformational progress in one or more of the Seven Fundamental Areas. Click here to read about last year’s insurer winners. 

Submissions must be made using the SMA Insurer Award Submission Form in order to be eligible for an award.

 

Solution Provider Award

2015 awards buttons spThe SMA Innovation in Action Solution Provider Awards recognize solution providers who are giving insurers and MGAs the solutions they need as they advance toward the future of insurance. The winning entries will demonstrate how the solution provider’s offering has enabled insurers and MGAs to make significant progress in one or more of the Seven Fundamental Areas. Click here to read about last year’s solution provider winners. 

Submissions must be made using the SMA Solution Provider Award Submission Form in order to be eligible for an award. 

 

Submission Guidelines and Instructions

All insurers and solution providers are eligible to participate. Completed forms must be submitted online at strategymeetsaction.com/awards by June 30, 2018. 

  • Insurer/MGA submissions include the project’s description, lines of business impacted, timeline and completion date, Fundamental Areas impacted, use of technology and data, key business imperatives, success measures (including metrics, if available), and how the project will contribute to your company’s future success. Click here to download more information about insurer award submissions. 
  • Solution provider submissions include an executive summary of the solution or service, what its benefits are to insurers and MGAs who have implemented it (including any available metrics), how it is being used by insurers today, a description of the innovative approaches/capabilities that it offers, its application to the Seven Fundamental Areas, and the name(s) of one or more insurers or MGAs who have gone live on the solution between January 1, 2017, and April 30, 2018. Click here to download more information about solution provider award submissions. 

Although the successful implementations of traditional technology projects such as portals, modernizing core systems, cloud computing, or business intelligence are essential to insurers’ strategies, they must be producing truly game-changing, innovative, and transformative results to be eligible for an award.

Questions may be directed to Karen Furtado, SMA Partner, at kfurtado@strategymeetsaction.com, or 978-239-2741.

 

Awards Program Overview

Click here to download the awards program overview.

 

Selection Process

The Strategy Meets Action analyst team will evaluate the submissions and select the winners in the insurer category. A panel of insurers will evaluate the submissions and select the winners in the solution provider category. 

 

Awards Presentation

Winners of the SMA Innovation in Action Awards will be announced on September 16 at the Welcome Reception for the 2018 SMA Summit: Transformation in Action. The winners will be recognized during the SMA Summit on September 17 and will also take part in the Summit to give all participants the opportunity to learn from the winners’ examples of innovation in action. Click here to read about the 2017 Summit and the important role of the award winners.

 

Past Winners

For information on past winners of the SMA Innovation in Action Awards, please click here.