Conservation Labs, an early-stage startup with plans to use data analytics to monitor water use and curtail this country's 2 trillion gallons of annual water waste, and The Institutes, an organization that helps educate P&C industry professionals about the power of technology to drive business, are the second semi-final winners of the 2017 ACORD Insurance Innovation Challenge (AIIC).
The was recently hosted at Willis Towers Watson's Chicago office.
Looking to the future
The AIIC is open to individuals and entities worldwide with products and services that have the potential to further innovate and modernize the insurance industry. The event's final semi-round happens in September in London.
"We're pleased to partner with Willis Towers Watson this year to help encourage and facilitate global information sharing that inspires innovation," said ACORD President and CEO Bill Pieroni.
Now in its third year, AIIC provides a chance for insurance companies across all lines of business as well as investors and venture capital partners, technology start-ups and industry innovators to capture valuable exposure as well as a cash prize.
Fresh thinking
The challenge covers two submission categories: Startup Disruptor and Industry Innovator. The selection committee awarded the first honor to Mark Kovscek from Conservation Labs, and the latter went to Pete Miller and Christopher McDaniel from The Institutes.
"We're delighted to support this competition in partnership with ACORD to showcase some of the disruptive and innovative technological forces in the insurance market," said Eric Joost, global head of Property and Casualty, Willis Towers Watson. "Innovation is central to our approach at Willis Tower Watson, and as thought leaders in this space we are committed to working with our clients, industry and technology partners to deliver fully integrated solutions in a fast moving business environment."
Willis Towers Watson is a global advisory, broking and solutions company. ACORD is a global nonprofit organization serving the insurance and related industries.
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