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ACORD Announces New Insurance Innovation Challenge Contest

ACORD
Mark Westin, mwestin@acord.org 845-535-6465
Published: 2/25/2015
 
Pearl River, NY February 24, 2015 – ACORD, the insurance industry’s global data standards organization, announced today that it will hold a new event, the ACORD Insurance Innovation Challenge.

The Innovation Challenge is the first insurance-specific technology and innovation competition. It is open to individuals or organizations of any size, from anywhere in the world, with new ideas that can be applied to transform the way the insurance industry does business.

“Everyone in the industry is talking about disruption, so we wanted to give them a chance to stop talking and start acting,” said Malou August, ACORD Director of Event Programs. “People are challenging ‘business as usual’ in other industries right now. This event is an opportunity for insurance industry players to step up and create the true innovations we need.”

ACORD Insurance Innovation Challenge winners will be selected based on their ability to develop products and services that have the potential to bring significant innovation to the industry.  Additional winners will be chosen from among organizations who can demonstrate unique and exceptional implementations of ACORD Standards, Forms, or Architecture.

The deadline for applications is May 1, 2015.  A Showcase round will be held June 18, 2015 at the ACORD office in Pearl River, New York. Showcase finalists will receive a speaking slot before an audience of potential investors, partners, press and employers at ACORD2015, the flagship ACORD event taking place November 2-4, 2015 in Boca Raton, Florida. At ACORD2015, judges will select the winners, some of whom will receive a cash prize to help them bring their ideas to fruition.

“ACORD’s mission has always included research and development – in fact, that’s what the ‘R’ and ‘D’ in ‘ACORD’ stand for,” added August.  “The Insurance Innovation Challenge will feature exactly the sort of thinking we love to encourage.”

Complete information about the ACORD Insurance Innovation Challenge is available at: https://www.acord.org/membership/awards/Pages/Innovation.aspx.