Livegenic and Insurity were named the winners of the Association for Cooperative Operations Research and Development's 2015 Insurance Innovation Challenge during the ACORD 2015 Conference in Boca Raton, Fla. last week.

Both winners received a prize package valued at $25,000.

This year, the nonprofit standards and data exchange company put together a competition to drive innovation, which Bill Hartnett, head of innovation at ACORD, calls a "business incubator, competition hybrid," similar to programs such as "Shark Tank" or TechCrunch Disrupt.

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