LEGALFLY wins ACA Innovation Award 2024

Today, the ACA held the 2024 edition of the ACA Innovation Award, a competition aimed at promoting innovation within the insurance sector in Luxembourg. This event brought together startups, insurance/reinsurance players, and members of the ACA ecosystem for a day dedicated to collaboration and creativity.

LEGALFLY stood out with its solution, offering an innovative response to the current challenges faced by the industry. The award was presented by H.E. Stéphanie Obertin, Minister of Digitalization, in recognition of the government’s commitment to fostering innovation in the insurance sector.

A springboard for innovative solutions

The ACA Innovation Award 2024 allowed six startups to showcase solutions tailored to the concrete needs of insurers, focusing on two key themes: automation and digitization of processes, and the optimization of customer relations. Throughout the day, and through teamwork, participants benefited from the expertise and guidance of ACA members, helping them refine their solutions before presenting them to a jury composed of industry professionals.

Key partnerships for an innovative ecosystem

This event, which was held as a full day dedicated to innovation within the sector, was made possible thanks to the support of several ACA members, sponsors of the ACA Innovation Award: Barents RE, CALI, EY, Foyer Groupe, KPMG, LALUX Assurances, Lombard International Assurance, Luxprovide, Monument, Proximus, PwC, SOGELIFE, and Sopiad. Thanks to the commitment of these partners, the competition provided a platform for startups to gain visibility. Participants had the opportunity to overcome the usual barriers they face when trying to collaborate with insurance companies, which are often subject to a complex regulatory environment. The guidance offered by a team of professionals throughout the day enabled them to assess the viability of their solution before considering the development of a Proof of Concept. They also had the chance to build connections with insurers and reinsurers, paving the way for future collaborations.

In collaboration with the LHoFT and Plug And Play for sourcing startups, the ACA strengthened its position as a catalyst for innovation, fostering new synergies and accelerating technology projects to benefit the industry.

A vision for the future of the insurance sector

The ACA Innovation Award demonstrates ACA’s commitment to supporting the development of concrete and innovative solutions for the Luxembourg insurance sector. Through this competition, the ACA reaffirms the importance of adopting new technologies to address current and future challenges, and to continuously improve the customer experience.