Historically, insurance has provided the security and safety net that enables people to take risks and achieve goals otherwise not possible. Such as, starting a business, owning a home without paying in full, mitigating loss related to weather damage, accidents, or loss of property or life, etc. By removing risk for individuals, insurance enables financial stability for both individuals and economies.
Nascent technologies and trends are poised to permanently change the landscape of how we perceive risk, what people need in terms of protection, and what risks prevent people from feeling able to achieve their goals.
What types of risks would you like removed in next 10 years and how do you propose removing them?
This is an Ideation Challenge with a guaranteed award for at least one solution.
As we see disruption in other commercial sectors, it should teach us that no business, including insurance, is immune from today’s rapid shifts in technology and consumer expectations. But it can be hard for those in the industry to envision the future. That is where you come in. The Seeker desires a well described risk and the corresponding product or service that removes the risk, including the consumer benefit.
This is an Ideation Challenge, which has the following unique features:
Submissions to this Challenge must be received by 11:59 PM (US Eastern Time) on September 20th, 2015. Late submissions will not be considered.
After the Challenge deadline, the Seeker will complete the review process and make a decision with regards to the Winning Solution(s). All Solvers that submit a proposal will be notified on the status of their submissions; however, no detailed evaluation of individual submissions will be provided.
What is an InnoCentive Ideation™ Challenge?
An InnoCentive Ideation™ Challenge is a broad question formulated to obtain access to new ideas, similar to a global brainstorm for producing a breakthrough idea or market survey which may include ideas for a new product line, a new commercial application for a current product, or even a viral marketing idea to recruit new customers. Ideation™ Challenge submissions are typically about two written pages, and Seekers receive a non-exclusive, perpetual license to use all submissions.
In an Ideation™ Challenge, Solvers may:
Solvers should not reveal any confidential information in their submissions. Often the Ideation™ Challenge will be followed by one or more of the other three Challenge types to further develop the ideas and gain Intellectual Property protection when the concept has been well-defined.