ingenie wins Innovation in Action award in America
We're very pleased to announce that ingenie has won an SMA Innovation in Action award for our work in telematics insurance. The winners were revealed at SMA's annual summit in Boston last week.
Since the birth of ingenie, we've been developing telematics to help young drivers improve their driving, lower their insurance costs and build a record of good driving behaviour that will help them for years to come.
We're all about connecting with our community and actually making a difference to each individual's future - with or without us - which is quite a step beyond traditional insurance.
So being recognised as an innovator in the insurance industry is a great honour - especially just as we launch ingenie in Canada and plans for moving into the US are in progress - and it's wonderful to have new ideas and new ways of working rewarded.
To any start-ups out there, take it from us: an idea you’re told will never work could one day help change lives. Richard King - Founder and CEO
Strategy Meets Action Announces the 2014 SMA Innovation in Action Award Winners
SMA Recognizes Innovation at the SMA Summit
BOSTON, Sept. 15, 2014
Strategy Meets Action (SMA), a leading insurance advisory firm, announced the winners of the SMA Innovation in Action Awards during its annual SMA Summit at the Mandarin Oriental Hotel in Boston. The 2014 winners in the insurer category were AssureStart, ingenie, and Privilege Underwriters Reciprocal Exchange (PURE). The winner in the IT solution provider category was EagleView® Technologies for their Risk Visualization Solutions (RVS).
"Each year we receive an impressive number of high quality submissions, and 2014 was no exception. Insurers and solution providers are solving real business problems and addressing needs though innovative thinking and effective implementations," said Karen Furtado, SMA Partner. "The number of unique and powerful solutions we reviewed illustrates that innovation is pervasive across our industry and that insurers are positioning to be successful as Next-Gen Insurers. We congratulate all of the winners and nominees on their forward progress and success."
The SMA Innovation in Action Awards are presented each year to celebrate innovation in the insurance industry. SMA launched this award program to inspire, share, and recognize solutions that enable an insurance company to move beyond modernizing and optimizing to real innovation and transformation, ultimately creating differentiation and competitive advantage. The program spotlights both insurers and solution providers that have successfully implemented solutions that best leverage next generation technologies as well as transformational projects or services that deliver game-changing business capabilities.
AssureStart received recognition as an SMA Innovation in Action Award winner for implementing a direct-to-small business insurance company that has an infrastructure that is completely cloud- based. Through an innovative use of technology built upon a modern flexible platform, AssureStart enables small business owners to purchase a Business Owner Policy online in less than five minutes and have immediate online access to their Declarations Page and Certificate of Insurance.
SMA Innovation in Action Award winner ingenie provides young drivers with pay-how-you-drive insurance services built upon telematics. They began offering services in the UK, and in 2014 they extended operations to North America. ingenie lets young drivers take responsibility for how they drive as well as how much they pay for insurance. By treating young drivers as individuals and rewarding them for driving well, ingenie is creating safer drivers.
With the expansion and enhancement of self-service member portals, Privilege Underwriters Reciprocal Exchange (PURE), a specialist insurer that serves high net worth families, provides its members with access to important policy documents and billing information, and enhances the claims process through real-time information aggregation. They leveraged several innovative technologies, including data aggregation from modern core policy and claims systems into a data warehouse, cloud technology, agile methodology, and a responsive design to meet and exceed member needs.
EagleView Technologies, the winner in the IT solution provider category, provides an innovative solution for property inspection. Risk Visualization Solutions (RVS) utilizes Pictometry® Intelligent Imagery® to provide high definition aerial imagery and subsequent imagery measurements and data, which are then combined with public record data to give carriers the ability to receive and view large quantities of single property change analysis and imagery for claims and underwriting.
The insurance company award winners were selected by the partners at SMA. The SMA Insurer Forum, an established community of insurance decision makers and influencers, selected the IT solution provider award winner. The SMA Summit, where participants were given a unique opportunity to experience and explore how next generation technologies have been and can be used across all aspects of the insurance business, provided the perfect opportunity to distinguish those that have demonstrated exemplary innovation.