The insureNXT Innovators Award...

... is an annual award for particularly innovative products, services, business models, and projects that can have a sustainable impact on the insurance industry.

... showcases and acknowledges that innovations can be realized in various company sizes and business models within the insurance sector.

... provides a platform for outstanding "next-generation" innovations. The attention it garners from all relevant perspectives within the insurance industry can boost businesses.

... generates success stories that have a long-term and sustainable effect.

... turns submissions into genuine fans of insureNXT.

The 4 categories of the insureNXT Innovators Award

Standalone Insurance Pioneer

Award for independent products, services, or business models in the insurance industry that are either established in the market or on the verge of market introduction.

The winner in the "Standalone Insurance Pioneer" category is VAARHAFT with the submission "Detecting fake claim images and preventing insurance fraud with VAARHAFT".

Full abstract: "Publicly accessible AI's are getting better every day at generating and manipulating digital images. Fake claim images can now be produced in a matter of seconds without specific software skills. Therefore, we can no longer trust claim images blindly, the entry barrier for image-based insurance fraud is falling dramatically. We've developed a novel AI-tool called the 'Fraud Scanner'. Our software checks the credibility of digital claim images in a matter of seconds and detects image-based fraud reliably. We protect you against AI-generated and (AI-)edited claim images as well as cross-insurance image duplicates and claim images taken from the internet. We localize the edited parts of an image and do a basic meta data analysis as well. As an API our analysis can be easily integrated in your existing processes. Nevertheless, a (white label) web platform is also available for you."

Collaboration Champion

Recognition for use cases and success stories based on the collaboration of at least two organizations.

The winner in the "Standalone Insurance Pioneer" category is SkenData together with the Schleswiger Versicherungsverein and the submission "Detecting fake claim images and preventing insurance fraud with VAARHAFT".

Full abstract: "ESG-Kriterien wie Energieeffizienzklasse (EEK), CO₂-Äquivalente und Primärenergiebedarf müssen Anwendung in der Wohngebäudeversicherung finden, um u.a. der Verbesserung der Energieeffizienz nach einem Schaden, der Berücksichtigung von Nachhaltigkeitstrends und des Nachweises über ESG-Kriterien gerecht zu werden. Der Schleswiger Versicherungsverein a. G. plant das Rollout einer neuen Wohngebäudeversicherung für privat genutzte Ein- und Zweifamilienhäuser. Neu und bisher einzigartig ist, dass die Energiedaten der Objekte die Berechnung der Versicherungsprämien in Hinblick auf die ESG-KPIs maßgeblich beeinflussen: Je besser die EEK und je jünger das Objektalter, desto vorteilhafter sind die Auswirkungen auf die Versicherungsprämie als Dank für den nachhaltigkeitsbewussten Verbraucher. Hierzu wird die SkenData API in die vollautomatisierte Angebots- und Antragsstrecke der Schleswiger Versicherung a. G. eingebunden. Der gesamte Prozess verbleibt auf der Benutzeroberfläche des Versicherers und wird um die Abfrage sowie der automatisierten Auslieferung von ESG-KPIs erweitert. Die energetische Bewertung sowie verschiedene energetische Maßnahmen und deren Impact auf die CO₂-Äquivalente, die EEK und den Energiebedarf werden mit der gemeinsamen Lösung durchgeführt und simuliert. Gemeinsam schaffen wir so eine grüne Wohngebäudeversicherung, die Nachhaltigkeit belohnt und Greenwashing im Wohngebäudeprodukt vermeidet."

Science Visionary

An award for outstanding scientific papers, research projects, or studies related to the insurance industry.

The winner in the "Science Visionary" category is R+V Versicherung, together with EBS Universität and the submission "Explanation matters: An experimental study on explainable AI".

Full abstract: "Explainable artificial intelligence (XAI) is an important advance in the field of machine learning to shed light on black box algorithms and thus a promising approach to improving artificial intelligence (AI) adoption. While previous literature has already addressed the technological benefits of XAI, there has been little research on XAI from the user’s perspective. Building upon the theory of trust, we propose a model that hypothesizes that post hoc explainability (using Shapley Additive Explanations) has a significant impact on use-related variables in this context. To test our model, we designed an experiment using a randomized controlled trial design where participants compare signatures and detect forged signatures. Surprisingly, our study shows that XAI only has a small but significant impact on perceived explainability. Nevertheless, we demonstrate that a high level of perceived explainability has a strong impact on important constructs including trust and perceived use- fulness. A post hoc analysis shows that hedonic factors are significantly related to perceived explainability and require more attention in future research. We conclude with important directions for academia and for organizations."

Cross Industry Bridgebuilder

An award for ideas, projects, strategies, solutions, or business models outside the insurance industry.

The winner in the "Cross Industry Bridgebuilder" category is Philips Pregnancy+ with the submission "Philips Pregnancy+ and Insurance Innovation - How to link Maternal Health via digital solutions with Insurers".

Full abstract: "Philips owns Pregnancy+, the worlds leading pregnancy app, with 80% market penetration of all pregnancies in Europe. Philips has recently launched a new innovation program in October 2023, to work with insurers in the health insurance sector. Philips looks at how they can support families with digital health tools through the app. They provide educational, expert-led content and courses for every week of pregnancy to support families through this fundamental life stage, which is both physically and mentally challenging. It is important as we know 1 in 6 couples struggle with fertility, the maternal age is increasing and lifestyles are becoming more sedentary which is leading to higher risks during pregnancy (estimated 30% of all pregnancies are now high risk). Philips wants to help individuals work towards preventative health programs. They do this by partnering with insurers to support their members through Pregnancy+ by signposting services such a tele health and utilizing insurance benefits that they might not be aware of (reimbursement of electric breast pump to support breast feeding)."