QBE Honored for Robust Innovation in
Emerging Technologies and InsurTech
Boston, Massachusetts, October 4, 2018 – Strategy Meets Action (SMA), a leading insurance strategic advisory firm, announced at the annual SMA Summit that QBE Insurance Group won the company-wide 2018 SMA Innovation in Action Award. The announcement was made on September 17, 2018.
"Our annual awards program gives SMA the opportunity to recognize and celebrate true innovation within the insurance industry,” said Karen Furtado, SMA Partner. “We believe it is important to recognize insurers with large-scale innovation not limited to a specific technology, product, or business area. We are delighted to honor QBE with this company-wide award in recognition of their large-scale innovation successes with emerging technologies and partnering and investing in InsurTech startups.”
QBE Insurance Group, one of the top 20 insurance groups in the world, formed QBE Ventures to coordinate work already occurring in emerging technologies and explore the InsurTech movement. QBE is now at the forefront of InsurTech, investing in a series of startups like HyperScience, Cytora, Jupiter, and RiskGenius. These investments have provided QBE with access to advanced AI and machine learning capabilities to improve their own business operations. QBE has been especially successful in going beyond the early stages and has been rolling out capabilities with their partners across their business. QBE demonstrates how an insurer can be a leader in innovation by capitalizing on emerging technologies and the InsurTech movement to reinvent key areas of their business and create business value.
Ted Stuckey, Managing Director of QBE Ventures, was on hand to receive the award and share more details about QBE’s success story. QBE’s goal, he noted, was to be “a partner of choice for InsurTech startups, using their technology to accelerate our own business.”
On September 16, SMA announced the six insurer and solution provider winners of 2018 SMA Innovation in Action Awards for specific initiatives and solutions.