Three insurance providers have been recognised as among this year’s most innovative companies, as judged by the expert panel assembled by The Australian Financial Review and business management consultancy Inventium.

Now in its seventh year, Australian Financial Review’s Most Innovative Companies List ranks the most innovative organisations in Australia and New Zealand, and is the only national, cross-industry list of its kind.

Making it to AFR’s top-100 Most Innovative Companies list for 2018 were Australian multinational bank CBA (rank 36), Melbourne-based general insurance underwriter Guild Group (45), and Allianz-owned boat insurance and pleasure craft insurance provider Club Marine (80).

“Making the Top 100 Most Innovative Companies List means that we are performing well above the industry average, particularly within the insurance category,” said Simon McLean, Club Marine CEO. “On behalf of everyone at Club Marine, I’m proud that we’ve been recognised for the many new initiatives we’ve implemented as we continually focus on improving our membership experience.”