Pearl River, NY – July 1, 2015 – ACORD, a global provider of insurance data standards, business and technology leadership, is pleased to announce 12 finalists who will compete for this year’s top prize in the ACORD Insurance Innovation Challenge.
Selected from more than 100 overall submissions, 48 entrants made the first cut and garnered the ability to compete for these finalist positions during a live-pitch day at the ACORD office in Pearl River, New York, and during a virtual pitch day as well. As the first insurance-specific innovation competition, the ACORD Insurance Innovation Challenge brought together a panel of judges comprised of insurance industry analysts, entrepreneurs and thought leaders to see presentations, provide feedback, and ultimately grade the pitches based on impact, ingenuity, feasibility and applicability to the insurance industry.
The following companies, presented in alphabetical order, were selected by the judges as the 2015 ACORD Insurance Innovation Challenge finalists in two categories, ACORD Innovators and Insurance Disruptors:
“The scope and breadth of the ideas and innovations submitted for consideration were both surprising and inspirational,” said Bill Hartnett, president of Hartnett Advisors and the driving force behind the Challenge. “The mission of the ACORD Insurance Innovation Challenge is to draw out and promote innovation that may have the ability to transform the industry and the way we do business. Many of the ideas presented, including those selected as finalists and those that did not make it into the top 12, have the potential to truly disrupt this industry. We are looking forward to seeing how the pitches from these finalists are received by a live audience.”
The finalists have all been invited to present to a panel of judges before a live audience at the ACORD2015 event, November 2-4 at the Boca Raton Resort & Club in Boca Raton, Florida. The winner, selected based on a ranking derived from a combination of responses from the live audience and the judging panel, will receive a prize package valued at $25,000.
For more information about ACORD, the ACORD Insurance Innovation Challenge, or the ACORD2015 event, call 845.620.1700, or visit www.acord.org/innovate, or www.acord.org/acordevent, respectively.
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ACORD (Association for Cooperative Operations Research and Development) is a global, nonprofit organization serving the insurance and related industries. ACORD facilitates the development of open consensus data standards and standard forms, and works with its members and partner organizations to drive implementation of those standards. 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. For more information, visit the association website at www.acord.org.