ATLANTA, June 25, 2019 /PRNewswire/ -- The Life Insurance Direct Marketing Association (LIDMA) is now accepting nomination applications from life insurance industry companies or individuals who seek to earn LIDMA's prestigious 2019 "Innovation Award" for technological and procedural enhancements that are having positive outcomes within the life insurance direct marketing channel.
Selected Finalists will then be required to submit a brief video on their industry innovation no later than September 20. The 2019 finalists and winner will be announced following formal judging and a live "People's Choice" round of voting at LIDMA's Fall Meeting & Business Showcase, October 13-15, 2019 at the Disney Grand Californian & Spa in Anaheim, California.
"The direct-to-consumer segment of the life insurance industry is the intersection where entrepreneurs partner with established insurers to accommodate the wants and needs of the most important player – the consumer. It's alarming to know that nearly half the households in America have no life insurance in force, which speaks volumes to the market opportunity at hand," said LIDMA President, Jan Pinney, CEO of Pinney Insurance. "Our Innovation Award seeks to identify and honor those who have been bold enough to bring their re-engineering ideas to fruition."
The "Innovation Award" program was inspired by LIDMA's eProcess improvement initiatives which are continually updated by LIDMA-affiliated insurers, service vendors, attorneys, and marketers. LIDMA's eProcess reduces costs for carriers and providers and improves the buying and fulfilment experience for customers.
Last year's winner, Lincoln Financial Group's Tele App and Scheduling Tool, was chosen from an outstanding group of finalists including APPS/Portamedic, EMSI and Applicint, ExamOne, Jornaya, Lincoln Financial Group, Motorists Insurance Group, and Paperless Solutions Group.
LIDMA Innovation Award Criteria and Process
Successful applicants or nominees will have a measurable effect on expanding the market, collapsing cycle times, digitalization of previously awkward processes, or strengthening the consumer relationship with our industry and its noble purpose.
To determine Innovation Award finalists, LIDMA will conduct a thorough review to ensure each applicant's technological or procedural improvement initiative is active or in an advanced stage of development. Finalists will be notified by August 1 with a further requirement that they submit a brief video on their industry innovation no later than September 20. A panel of judges comprised of Founding members of LIDMA and an InsureTech expert will independently submit "blind votes" for the winner. Finalists will be showcased, and new this year include a presentation of finalists and "People's Choice" voting on site at the meeting. The winner will be selected at the LIDMA Fall Meeting & Business Showcase slated for October 13-15, 2019 at the Disney Grand Californian & Spa in Anaheim, California.
Applications for the LIDMA Innovation Award are available now at www.lidma.org and will be accepted through July 19, 2019.
LIDMA is the primary association dedicated to supporting businesses and professionals active in direct sales of life insurance products to consumers – the fastest growing sales segment in the life insurance industry. The LIDMA "Seal of Approval," developed by affiliated carriers, vendors, attorneys, and producers demonstrating compliance with articulated process requirements around e-Delivery, e-Signature and Voice Signature, has become a standard-bearer for a consistent approach to process improvement and positioned LIDMA as the leading life insurance organization in e-Process initiatives. The not-for-profit organization is committed to helping members protect more families while boosting their revenues and reducing costs. For more information, visit www.lidma.org.
SOURCE Life Insurance Direct Marketing Association