Deadline extended to August 13
Startups with a vision to improve the insurance industry invited to submit pitches
PEARL RIVER, NY and LONDON, UK, July 27, 2021 – ACORD, the global standards-setting body for the insurance industry, today announced a call for entries for its annual ACORD InsurTech Innovation Challenge (AIIC), the world’s premier event for innovation in insurance technology. The AIIC’s mission is to seek out, promote, and nurture sustainable technological innovation for the insurance industry, benefitting insurers, distribution channel stakeholders, and/or vendor partners. The deadline for submitting ideas is Friday, August 13.
“The ACORD InsurTech Innovation Challenge brings together an exciting group of innovators who share a strong desire to bring positive change to the insurance market,” said Bijesh Jacob, SVP, Technology & Standards, ACORD Solutions Group. "The AIIC was the insurance industry’s first competition of its kind in 2015, and we are proud to continue this tradition of recognizing and supporting the emerging ideas and technologies that will advance our industry globally.”
Through an open submission process leading to rounds of virtual competitions in London on September 2 and New York on September 14, the AIIC rewards the most innovative ideas with thousands of dollars’ worth of benefits, promotional tools, industry exposure, and networking opportunities. The winners of each Challenge will receive $10,000 cash and other prizes.
Startups from anywhere in the world are eligible to enter the AIIC. Applicants must submit and present a well-defined concept for a viable product or service which demonstrates the potential to disrupt traditional approaches to insurance and transform the ways the industry thinks. The AIIC brings together insurance innovators across all lines of business, investors and venture capital partners, technology startups, and industry mentors and experts to shape the future of the insurance industry.
The 2020 AIIC winners are Micruity, a central clearinghouse for communicating, verifying, and aggregating annuity-related data in a secure and frictionless manner (New York), and Virtual i Technologies, which helps the insurance industry see and assess risks and losses which are typically hidden from view today (London).
For more information, or to submit an application, please visit www.acordchallenge.org.