AIG
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Without commercial insurance, who would take the risk to build the skyscrapers of tomorrow?
Use turbines to generate power?
Fly jet planes or explore the oceans?
Open a hospital? A school? A restaurant?
Ship goods around the world?
Rebuild after natural disasters?
As the world embraces the Fourth Industrial Revolution, risk is everywhere and growing.
Commercial insurance enables innovation and generates growth by mitigating risk. Businesses use commercial insurance to protect against potential losses from unforeseen circumstances, such as theft, liability, property damage, interruption of business, and injured employees.
With emerging technologies, we have opportunities to change our world for the better, and AIG, an insurance industry leader worldwide, is looking to you to submit your best idea for this challenge:
How can innovative technologies advance or improve commercial insurance?Want to know more about what AIG is doing to align commercial insurance and technology? For inspiration, visit www.aig.com/innovative-tech to read about:
- Wearable technology and worker safetyYou don’t have to be a technologist to have a great idea for this challenge. So, bring your best, most creative concepts and business models to this two-part interactive challenge. Participation in the challenge is subject to the challenge rules. Top-scoring participants from round one will advance to round two.- Unmanned aircraft
- Cyber security
ROUND ONE: THE MINDSUMO CHALLENGE
Part I: Describe Your Advancement or Improvement
1. What commercial insurance-related issue or risk do you want to address, and why is this issue or risk important?Part II: Present Your Advancement or Improvement2. What is your technology innovation/solution/opportunity, and how will it mitigate or lessen the risk associated with the issue you identified?
3. Why would it be accepted and widely adopted? Cite data and sources.
Present your technology concept in a compelling way, such as a PDF (with mock-ups), PowerPoint presentation, video, or prototype of your technology concept. Text-only entries will be accepted but are not encouraged.ROUND TWO: HOUSTON DEMO DAY
- Deliverables are the same as in round one.JUDGING CRITERIA:- Round two will be finalists’ in-person presentations.
- Finalists are allowed to edit their presentations between round one and round two, as long as such edits are consistent with the challenge rules.
- Conceptual design approach: A clearly defined problem and solution, as well as the articulateness of the concept description and its relevance to the challenge prompt.SUBMISSION GUIDELINES:- Relevance to AIG: A specific definition of the area of commercial insurance you are advancing and a compelling demonstration of the value your technology concept would add to AIG and its customers. For additional information, read about innovative technology and commercial insurance at AIG.
- Innovation of the idea: The innovation, creativity, and originality of the idea.
- Presentation: The functionality and clarity of the demo, mock-up, video, or other submission medium.
- Students are invited to participate and present their ideas to combine emerging technologies and commercial insurance. This challenge is open to full-time or part-time university/college undergraduate or graduate students in the U.S. and Canada (excluding Quebec).- Building technical prototypes or creating mock-ups is encouraged but not required.
- This challenge can be entered by individuals or teams of up to four students.
- Four individuals or teams of winners will be invited (travel expenses paid) to present their ideas in Houston on Friday, April 21, 2017, to the AIG Innovation Team, AIG University Relations Team, and AIG executives.
- Each of the four teams selected as finalists will be invited to travel to Houston to compete while presenting their idea in-person. On demo day one team will receive $500 per individual or team member, as applicable, and the three runners-up teams will receive $200 per individual or team member, as applicable. These prizes are in addition to those awarded after the Round 1 - MindSumo challenge.
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Submissions will be graded on the following criteria:
- Meets Deliverables
- Creativity
- Clarity
will receive $300 each
will receive $100 each
| $300.00 |
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Allen Coe Mississippi State University | |
| $300.00 |
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Pooja Joshi University of North Carolina at Chapel Hill | |
| $300.00 |
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Matthew Gaiser Queen's University | |
| $300.00 |
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Richard Thompson Coastal Pines Technical College | |
| $100.00 |
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Joseph Nardone New York University | |
| $100.00 |
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Sophia T McMaster University | |
| $100.00 |
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Edward Tsai University of Connecticut | |
| $100.00 |
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Massimo Montanaro Florida Institute of Technology |