Skip to main content
Press Release

Willis Towers Watson announces winners of ACORD Insurance Innovation Challenge

N/A
N/A

July 27, 2017

Now in its third year, ACORD’s AIIC brings together a wide range of insurance companies across all lines of business, as well as investors and venture capital partners, technology start-ups and industry innovators.

LONDON - 27 July 2017 — Willis Towers Watson (NASDAQ:WLTW), the leading global advisory, broking and solutions company, in conjunction with ACORD, a global nonprofit organization serving the insurance and related industries, are pleased to announce the winner of the second semi-final of the 2017 ACORD Insurance Innovation Challenge (AIIC), hosted at the Willis Towers Watson Chicago office on 26 July.

The competition offers the opportunity to be part of a collaborative effort to transform the way the insurance industry does business, interacts with new policyholders and partners, crafts the next generation customer experience and ensures a prosperous future.

Submissions were entered in two categories: Startup Disruptor and Industry Innovator. Winner of the Startup Disruptor category was Mark Kovscek from Conservation Labs and in the Industry Innovator category, The Institutes took the award, entered by Pete Miller and Christopher McDaniel.

The AIIC is open to individuals and entities of any size from anywhere in the world who have developed – or could demonstrate the potential to develop – products and services that disrupt traditional approaches to insurance and transform the ways the industry innovates.

The first semi-final was held in New York on June 22 and the third semi-final round will be in London on September 5. The winners of the final round will be announced at ACORD2017 on 24-26 October in Boston, MA. The AIIC will award a total of over $300,000 worth of prizes.

Eric Joost, Global Head of Property and Casualty, Willis Towers Watson said: “We are delighted to support this competition in partnership with ACORD to showcase some of the disruptive and innovative technological forces in the insurance market. Innovation is central to our approach at Willis Tower Watson, and as thought leaders in this space we are committed to working with our clients, industry and technology partners to deliver fully integrated solutions in a fast moving business environment.”

Bill Pieroni, ACORD President and CEO said: “We are pleased to partner with Willis Towers Watson this year to help encourage and facilitate global information sharing that inspires innovation. For nearly 50 years, ACORD has been committed to working across boundaries and borders worldwide, championing the insurance industry in supporting improvements across the insurance value chain.”

The judging panel comprised a range of industry experts, senior executives, entrepreneurs and investment professionals, including Dr Andrew Johnston, Willis Re’s Global InsurTech Research and Outreach Lead.

Commenting on the event, Dr Johnston said: “The AIIC was a huge success for all involved; ACORD, TransUnion, the Global Insurance Accelerator, Willis Towers Watson and the start-up community. There was an extremely high standard of InsurTech start-ups competing across the board, which is very encouraging for our industry. Conservation Labs and The Institutes are both deserving winners and I would like to congratulate them on their victories today.”

Find out more about the ACORD Insurance Innovation Challenge here.

About Willis Towers Watson

Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 40,000 employees serving in more than 140 countries. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential.

About Willis Re

One of the world's leading reinsurance brokers, Willis Re is known for its world-class analytics capabilities, which it combines with its reinsurance expertise in a seamless, integrated offering that can help clients increase the value of their businesses. Willis Re serves the risk management and risk transfer needs of a diverse, global client base that includes all of the world's top insurance and reinsurance carriers as well as national catastrophe schemes in many countries around the world. The broker's global team of experts offers services and advice that can help clients make better reinsurance decisions and negotiate optimum terms. For more information, visit willisre.com.

About ACORD

ACORD (Association for Cooperative Operations Research and Development) is a global, non-profit organization serving the insurance and related industries. ACORD facilitates fast, accurate data exchange and more efficient workflows through the development of electronic standards, standardized forms, and tools to support their use. ACORD members worldwide include hundreds of insurance and reinsurance companies, agents and brokers, software providers, financial services organizations and industry associations. ACORD maintains offices in New York and London. Learn more at www.acord.org.

Contact Us
Related content tags, list of links Press Release