Business Insurance is accepting nominations for the 2017 Innovation Awards.

Now in their eighth year, the awards are being refreshed for 2017. In addition to recognizing innovation in new products and services that insurers, brokers, technology companies and other service providers create for professional risk managers, the awards program will also recognize risk management innovations created by risk management teams — all those involved in the risk management process, including risk managers, brokers, underwriters, third-party adminstrators and other service providers, will be recognized.

The awards for innovations in individual products and services, as they were previously, will be presented to the companies that created the products; the awards for innovations in risk management will be presented to the team of individuals from multiple companies that were involved in creating the innovative risk management program.

The criteria for the awards for products and services are:

• Demonstrates originality in serving the needs of professional risk managers
• Product or service is relevant to core concerns of risk managers
• Effectiveness in solving one or more problems in the risk management process of identifying, assessing/analyzing, controlling and/or financing risk
• Presentation of product or service in terms of ease of use and understanding
• Results achieved when implemented by risk managers

 The criteria for the awards for risk management innovations are:

• Addresses a specific risk management problem
• Shows originality and creativity in solving the problem
• Used a team approach to solve the problem
• Produced a measurable outcome
• Has an effect on the organization that’s recognized beyond the risk management department

The deadline to submit nominations is Monday, July 17, at 11:59 p.m. EDT.

The 2017 Innovation Award winners will be profiled in the October 2017 issue of Business Insurance and be recognized at the Innovation Summit & Awards on Oct. 5, 2017, in New York.

To read more about the Innovation Awards and access the nomination form, click here.