We are excited to share great news! On Wednesday, Nov 5th 2015, Livegenic was recognized as the winner of 2015 ACORD Insurance Innovation Challenge during the ACORD 2015 Conference held in Boca Raton, Florida.
The awards challenge is a new initiative at ACORD on encouraging and promoting industry innovation. “The judges and the audience members voting during our live pitches in Boca Raton were impressed and, I think at times, amazed, by the ingenuity, passion, drive and degree of innovation represented in these two pitches,” said Bill Hartnett, Head of Innovation for ACORD. “It is very gratifying to know that the first year out of the gate we have achieved the mission of the ACORD Insurance Innovation Challenge by identifying and rewarding innovations which can begin to transform the industry and the way we do business tomorrow instead of ten years down the road.”
Right from the start, Insurance Innovation Challenge met strong competition from over 100 overall applicants ranging from lean start-ups to international enterprises. Three rounds of selection process eventually narrowed down the list of 12 finalists in two categories, Insurance Disrupters and ACORD Innovators.
The Livegenic Team was recognized as a winner of Insurance Disruptor category by industry judges and audience members, demonstrating “most ingenuity, potential impact for the industry, applicability to insurance, and quality of presentation.”
“We are thrilled to have been recognized by this prestigious award”, said co-founder and CEO of Livegenic, Alex Polyakov. “Especially, since we had the honor of pitching along side of other impressive companies, like Wallflower, Social Intelligence, SPLICE Software, VRM Telematics, and Intellect SEEC, who have all set the course to achieve the same ambitious goal – to bring positive new change to the insurance industry.”
This award comes on the heels of another award in innovation. In the end of September, The Livegenic Team was announced one of three winners of 2015 SMA Innovation in Action awards for its real-time video platform and its capabilities to improve customer experience in claims.
This news come at a very exciting time for the insurance industry, as it began to pick up the momentum in exploring opportunities to adopt new technologies, new ways of doing business, and capitalizing on innovations and high quality products produced by smaller nimble start-ups.
Thank you all for the recognition and the award!
ACORD 2015 Winners Press Release
Insurance Journal: ACORD Names 2 Insurance Innovation Challenge Winners: Livegenic, Insurity
ACORD 2015 Insurance Innovation Challenge Finalists Press Release