Award Categories: Business Insurance U.S. Insurance Awards 2024

This award recognizes leadership, inventiveness and ingenuity in products and services designed for risk management professionals.

To be considered for the 2024 Innovation Awards, a submitted product or service must have been rolled out between Jan. 1, 2023, and June 1, 2024. Products or services that are intended for general business or administrative functions and are not specifically intended to support the role of risk management in a public or private organization are not eligible and will not be considered. Products designed for use by insurers, brokers, consultants or other service providers are not eligible.

A company may submit up to five (5) products and services designed for risk managers.

Criteria for products and services nominated:

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

Broker Team of the Year 
This award recognizes a team of brokers within a brokerage organization. Please provide a 500-word summary of a brokerage team’s accomplishment within the past two years. Submissions may describe how the team structured a new program, accessed new capacity, addressed a client’s problem, created a new solution for the market, or any other service that brokerage teams provide for commercial insurance clients.

Claims Management Team of the Year
This award recognizes a team of claims professionals at a third-party administrator or an internal claims team at an organization. Please provide a 500-word summary of a team’s accomplishments within the past two years. Submissions may describe how the team addressed a specific client or industry concern, solved a significant claims problem, reacted to a catastrophic event, addressed a major medical management or workers comp issue, or any other service that the team developed to help their policyholder or insurer clients.
 
Community Outreach Project of the Year – Pro Bono and Volunteer 
This award recognizes a community outreach project by any organization operating in the commercial insurance and risk management sector that involved pro bono or volunteer work. Please provide a 500-word summary of a community outreach project introduced within the past two years. Submissions may describe pro bono work performed for the community by a company or its employees, volunteer initiatives to provide practical help, or any other pro bono and volunteer outreach project performed to support a local community.
 
Community Outreach Project of the Year – Donations
This award recognizes a community outreach project by any organization operating in the commercial insurance and risk management sector that involved donations. Please provide a 500-word summary of a community outreach project introduced within the past two years. Submissions may describe fund-raising efforts for charities or not-for-profits, company matching programs, or any other donations related to community outreach efforts.
 
Diversity Equity & Inclusion Initiative of the Year
This award recognizes a diversity & inclusion initiative by any organization operating in the commercial insurance and risk management sector. Please provide a 500-word summary of a diversity initiative introduced within the past two years. Submissions may describe an initiative to foster a more diverse talent pool, enhance inclusive work environments, drive supplier diversity, improve customer outreach or any other initiative aimed at promoting diversity efforts in the commercial insurance industry.
 
Insurance Consulting Team of the Year
This award recognizes a team of consultants in the risk management and insurance sector, including specialty consulting firms and general management consulting firms that operate in the field. Please provide a 500-word summary of a consulting team’s accomplishments within the past two years. Submissions may describe how the team solved a specific problem for an insurer, brokerage or risk management client, an industrywide solution, a change management project, or any other service that the team provided to an underwriting, brokerage or risk management client.
 
Insurer Team of the Year 
This award recognizes a team or underwriting or other professionals at a commercial insurer. Please provide a 500-word summary of accomplishments within the past two years. Submissions may describe how the team developed or improved an insurance policy or coverage, devised a solution for a specific problem faced by a policyholder or group of policyholders, recognized and provided a solution for an emerging risk, or any other commercial insurance solution or service that the team developed.
 
Legal Team of the Year
This award recognizes a team of legal professionals in the risk management and insurance sector, including outside counsel for policyholder and insurer clients and inside counsel teams. Please provide a 500-word summary of a legal team’s accomplishments within the past two years. Submissions may describe key court wins or settlements, the legal team’s role in a merger or acquisition, the team’s role in helping other business developments, or any other service that the team provided to insurers or policyholders.
 
Risk Management Team of the Year 
This award recognizes a risk management team that has introduced a new or enhanced risk management program over the past two years. All the key participants in the program will be recognized – risk managers, insurers, brokers, technology providers, etc., but the client organization must be included in the nomination. Please supply a 500-word summary of the program. Submissions may describe how a risk management team and its key service providers introduced a strategic risk management program, reduced the total cost of risk, facilitated a wider business initiative, developed a self-insurance or captive program or any other program that enhanced an organization’s risk management process.
 
Specialty Intermediary Team of the Year
This award recognizes a team within a wholesale brokerage, managing general agent or managing general underwriter organization. Please provide a 500-word summary of a team’s accomplishments within the past two years. Submissions may describe how the team structured a new program in the surplus lines market, accessed new capacity, addressed a specific problem for a retail broker or its client, created a new solution for the market, or any other service that wholesale brokerage, MGA and MGU teams provide for retail brokers and commercial insurance policyholders.