Twelve finalists have been selected to compete for the top prize in the ACORD Insurance Innovation Challenge. Finalists have been invited to present to a panel of judges at the ACORD2015 event before a live audience. Winners will be selected based on a ranking derived from a combination of their responses and receive a $25,000 prize package.

"The mission of the ACORD Insurance Innovation Challenge is to draw out and promote innovation that may have the ability to transform the industry and the way we do business,” said Bill Hartnett, president of Hartnett Advisors and the driving force behind the challenge. “Many of the ideas presented, including those selected as finalists and those that did not make it into the top 12, have the potential to truly disrupt this industry. We are looking forward to seeing how the pitches from these finalists are received by a live audience."

The following companies were selected by the judges as finalists in two categories, ACORD Innovators and Insurance Disruptors:

  • Bolt Solutions
  • EZLynx
  • Haven Life
  • Insurity
  • Intellect SEEC, Part of the Polaris Group
  • ISIS Papyrus Software
  • Livegenic Inc.
  • Social Intelligence Corp.
  • SPLICE Software Inc.
  • Vertafore
  • VRM Telematics
  • Wallflower

From more than 100 submissions, 48 entrants made the first cut and earned the opportunity to compete for these finalist positions, ACORD said. As the first insurance-specific innovation competition, the ACORD Insurance Innovation Challenge brought together a panel of judges comprising insurance industry analysts, entrepreneurs and thought leaders to view presentations, offer feedback and grade the pitches based on impact, ingenuity, feasibility and applicability to the insurance industry.

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