At NAMIC, we define innovation through relevance. And while we expect automation and technology applications to make up a portion of the Award in Innovation submissions, the award is truly open to any aspect the nominee deems innovative. These may include:
Unique, high-impact areas of community involvement
Creative ways of communicating the value of Mutuality (through new or traditional channels)
Initiatives in talent development and leadership perpetuation
Efforts in building a dynamic work environment
New ways of increasing policyholder accessibility and claims response time
Each submission will be scored on a 1-to-5 scale based on the following criteria:
Impact in perpetuating Mutuality
Creativity of idea
Numbers and/or dollar impact - relative to size of insurer (i.e. biggest and best is not an influence)
Potential for the idea to be adapted and used by other NAMIC members
Alignment with Management Conference focus areas—leadership, innovation/strategy, emerging trends, and the economy
To qualify, must be NAMIC member and have a primary Company connection.
NAMIC members who qualify for the Award in Innovation meet the following two criteria; primary insurance company who writes lines of insurance, operate and function as a mutual insurance company.
The Selection Committee will be made up of individuals on the Management Conference committee (unless an award nominee in which case he/she will be asked to abstain); two members of the NAMIC Property Casualty Conference Board of Directors; NAMIC VP Member Development (staff representative), and the previous year’s Award in Innovation winner.