The International Insurance Society (IIS) and Insurance Thought Leadership (ITL) announced the winners of the first-ever Global Innovation Awards at the 56^th installment of the Global Insurance Forum on Nov. 6, 2023, at the Hilton Singapore Orchard. The awards recognize companies that have shown exceptional achievement in driving innovation and fostering sustainability within the insurance and risk management industry.

Life/Health/Retirement Innovator of the Year: AIA

AIA earns the Life/Health/Retirement Innovator of the Year award for their submission "Technology, Digital and Analytics Programme: Unlocking Innovation to Help People Live Healthier, Longer and Better Lives." By using cloud and AI, AIA has revolutionized its business, making customer interactions faster, more efficient, and personalized.

Property/Casualty Innovator of the Year: PAK Programs

The Property/Casualty Innovator of the Year award goes to PAK Programs for their submission "Addressing CAT Risks with Drones and 360-Degree Cameras." PAK Programs has developed an innovative approach to tackling wildfire losses in the winery business. Leveraging cutting-edge technology, their program provides a comprehensive assessment of insured businesses, identifying major risks across buildings, vineyards, processing facilities, irrigation, tasting rooms, and more.

Insurtech Predict & Prevent Innovator of the Year: Swiss Re

The Insurtech Predict & Prevent Innovator of the Year award, determined by audience vote during the Insurtech Lightning Round session, goes to Swiss Re for their submission "Risk Data & Services: Empowering Risk Control and Enhancing Resilience." The platform provides essential tools and models for assessing, quantifying, and prioritizing risks. Swiss Re's innovative approach enables businesses to make informed decisions about sharing risk insights, thereby enhancing data confidentiality.

The Global Innovation Awards are part of the IIS Honors recognition program. Visit the recognition page to learn more about individuals and companies who have made outstanding contributions to the insurance industry.

About International Insurance Society: IIS is a diverse and inclusive platform for all stakeholders of the global insurance and risk management community, providing knowledge, research, thought leadership and connectivity to support the betterment of society. Founded in 1965, IIS is a global not-for-profit organization that serves as a neutral platform for active collaboration and examination of issues that shape the future of the insurance industry. IIS is an affiliate of The Institutes.

About Insurance Thought Leadership: ITL is a global network of thought leaders and decision makers transforming the insurance and risk management marketplace through knowledge sharing, big ideas, innovative technology, and real-life applications. ITL positions readers to be smarter about the drivers transforming the insurance industry and to connect members in ways that lead to innovation and strategic advantage. ITL is an affiliate of The Institutes.

About The Institutes: The Institutes are a global not-for-profit comprised of diverse affiliates that educate, elevate, and connect people in the essential disciplines of risk management and insurance. Through products and services offered by The Institutes’ nearly 20 affiliated business units, people and organizations are empowered to help those in need with a focus on understanding, predicting, and preventing losses to create a more resilient world.

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The Global Innovation Awards recognize companies that have shown exceptional achievement in driving innovation and fostering sustainability within the insurance and risk management industry.