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The 2016 Business Insurance Innovation Awards recognize the best new products and services for risk managers launched over the past year. The awards program, which started in 2010, was established to showcase innovative solutions that service providers are offering to solve problems faced by risk managers.
All of the nominations were reviewed by an independent panel of judges composed of professional risk managers, and the 10 highest-scoring nominations were selected for the 2016 Innovation Awards, which will be presented during the Business Insurance Risk Management Summit, to be held March 22-23 in New York.
The winning entries range from insurance coverage for data breach risks to robotics to apps and dashboards to help manage and assess property risks.
The nomination process for the 2017 Innovation Awards will begin in the fall.
For more information about the Innovation Awards and other awards programs sponsored by BI, visit www.businessinsurance.com or email Business Insurance Editor Gavin Souter at email@example.com.
Allied World Assurance Co., Allied World//FrameWRX
American International Group Inc., Investment in K2 Intelligence and Expansion of CyberEdge Suite of Loss Prevention and Mitigation Services
Carrington Risk Consulting L.L.C., SnapCAT
EigenRisk Inc., EigenPrism
FM Global, MyRisk
Lexington Insurance Co., Robotics Shield
Liberty Mutual Insurance Co., Managing Vital Driving Performance
Origami Risk L.L.C., Origami Risk/ODG Integration
PivotPoint Risk Analytics, CyVaR
XS Reserve Ltd., XS Reserve
PANEL OF JUDGES
The entries for the 2016 >Business Insurance Innovation Awards were reviewed by an independent panel of judges, all of whom are risk management professionals.
The judges assessed the entries based on five criteria: Originality in serving the needs of professional risk managers; relevance to the 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; the presentation of the product or service in terms of its ease of use and understanding; and the results achieved when implemented by risk managers.
The judges scored each entry, and the 10 highest-scoring entries were selected as the 2016 Innovation Awards winners.
THE 2016 JUDGES
The Chamberlain Group Inc.
Assistant director of risk management
Astellas U.S. L.L.C.
Assistant vice president of risk management
Director of risk management
The Art Institute of Chicago
Carlos A. Sintes
Fortune Brands Home & Security Inc.
Alastair Malcolm, founder and CEO of Faversham, England-based XS Reserve Ltd., is no stranger to innovation, having been at the forefront of the development of excess-of-loss credit insurance coverage some 30 years ago.