Please note that the details of this Challenge are no longer open. This challenge is awarded and is no longer accepting new submissions. You can:
Challenge Insurance 2025 and Beyond – What types of risks would you like removed and how do you propose removing them?
Insurance 2025 and Beyond – What types of risks would you like removed and how do you propose removing them?
STATUS: Awarded
Active Solvers: 356
Posted: Aug 19 2015
Challenge ID: 9933773
Team Project Rooms are available on this Challenge. Team Share Challenge Share

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:

  • There is a guaranteed award.  The award(s) will be paid to the best submission(s) as solely determined by the Seeker. The total payout will be $6,000, with at least one award being no smaller than $3,000 and no award being smaller than $1,000. 
  • Submission forwarding occurs during the Challenge.  Since submissions will be forwarded to the Seeker throughout the Challenge, please make sure you upload only a finished proposal. All submissions will be evaluated after the deadline. 
  • The Solvers are not required to transfer exclusive intellectual property rights to the Seeker.  Rather, by submitting a proposal, the Solvers grants to the Seeker a royalty-free, perpetual, and non-exclusive license to use any information included in this proposal, including for promotional purposes.

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 InnoCentive?
InnoCentive is the global innovation marketplace where creative minds solve some of the world's most important problems for cash awards up to $1 million. Commercial, governmental and humanitarian organizations engage with InnoCentive to solve problems that can impact humankind in areas ranging from the environment to medical advancements.

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:

  • Submit ideas of their own
  • Submit third party information that they have the right to use and further the authority to convey that right and the right to use and develop derivative works to Seekers
  • Submit information considered in the public domain without any limitations on use

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.

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