Discovery took home three awards in this year’s Efma-Accenture Innovation in Insurance Awards, at a virtual ceremony showcasing the best insurance innovations across the globe.
Discovery Health won Gold in the Product and Service Innovation category, for its Hospital at Homeoffering, and Discovery Life won Silver in the Social, Sustainable and Responsible category, for its Vaccination Max Payback product. Discovery also won Gold in the Global Innovator category, which recognises overall world-leaders in insurance innovation.
The insurance awards attracted 398 entries from over 250 institutions in 44 countries, highlighting the innovations that are using emerging technologies to respond to the disruption opportunities in insurance. Innovations were rigorously evaluated by an independent and highly esteemed panel of judges and a robust voting process.
Reflecting on the entries and winners, Efma CEO, John Berry, said:
“The winning entries show that the insurance industry is shifting to a consumer-centric model and delivering on new experiences. Amid market disruption and heightened consumer expectations, carriers are developing more individual offerings. For example, in the health and wellness space, we’ve seen an increase in products that aim to improve customers’ quality and length of life. We are proud to see that insurers are stepping up to respond to the ever-evolving market and broader societal challenges.”
The award winners were selected by a panel of judges comprising senior insurers from around the world, combined with online voting by Efma members and non-members from insurance institutions. Each entry was assessed using three criteria: its originality; its strategic capacity to create a long-term competitive edge and return on investment; and its adaptability for use in other markets and countries.
