insurtech hub munich - wk-events · insurtech hub munich - the epicenter of insurance innovation in...
TRANSCRIPT
InsurTech Hub Munich@Future of Consulting
Is there really a need for insurers to innovate?
I have a product that people must buy
High regulation is protecting me against contenders
Digitization is giving me better access to my main resource - data
But ….
The Insurers’ Dilemma
1 Lack of agility/speed
2 Risk averse
3 Old technology
1 Small customer base
2 Regulatory hurdles
3 Little resources
Startups’ Dilemma
InsurTech Hub Munich - The epicenter of insurance innovation
Investors
Startups Corporates
Government
InsurersUniversities
Challenge the status
quo
Collaborate on groundbreaking
products and services
Create the future of insurance
Innovation
Platform
AcceleratorIndustry
Association
Non-Profit
InsurTech Hub Munich
delivers impactful innovation
to the insurance ecosystem
by empowering
corporates and startups
to drive collaboration
Insurance and Munich
Insurance companies have their HQ in Munich
employees work in the insurance industry in Munich and its
surrounding communities alone –more than in any other German city!
people work for insurance companies, including around 14,000 in the two
other large Bavarian insurance locations of Nuremberg and Coburg
70+ 33,000+ 63,000
InsurTech Hub Munich – Community
Corporate Partners: Insurance Companies Corporate Partners: Strategic and cross-industry partners
InsurTech Hub Munich – Community
Institutional & Strategic partners
InsurTech Hub Munich – Community
Academic Partners Venture Capital Partners
© 2018 InsurTech Hub Munich
Batch #1
30 Applications 5 startups
Batch #2
40 Applications5 startups
Batch #3
72 Applications9 startups Batch
#4
163 Applications10 startups
Redesign & internalization ofInsurTech Accelerator
Batch #5
Design ofInsurTech Innovation
Programme2016 2017
20182019
2020
1st
Cross Industry Accelerator
320 Applications40 startups
280 Applications40 startups
2021
Innovation Programmes
NXT:Enterprise
ProgrammePreview
2021NXT: Enterprise Innovation Programme
Digital Health
Financial Home
HOW
2 3 4 1 2
44
-1
8 BIZDEV 6 5 4 BIZDEV 2 1 0
11
Partner Discovery & Startup Scouting Final Selection & Onboarding
WHYWHAT
Phase 4
Showcase
Partner Kick-Off:
1 5 6
Vetting & Screening
Start & Applications open
9
10
Collective know-how track
Innovation Programmes
Focus on Problem, End User and motivation
Focus on Solution, Tech Implementation, Piloting
Focus on Market Entry, Sales, Investment
Scoring from Corporates, VCs and ITHM Team
Corporate TrackStartup & Corporate Collab
Focusing on success stories and best practices of startup-corporate collaborations
© 2018 InsurTech Hub Munich 18
Innovation Programme Showcase
1,250 registrations from 36 countries
800 participants
Keynotes, panels and startup pitches; speakers includeJens Spahn, Dr Daniel Kraft, Daniel Bahr
15National and international insurers in our partnership networks
780 1:1 Business development sessions between corporate partners and startups in 2020
29 venture capital investorsbrought into the game
140 start-ups presented to our corporate and VC network network in 2020
78collaborations establishedbetween corporates andstartups in 2020
18 Innovation Circle events since May 2020
Preventive offer for mental health - in cooperation with Instahelp LV 1871 offers psychological online consulting.
Blinkin is supporting ADAC with their augmented reality tool for road assistance
HUK-Coburg uses the identity confirmation of Nect GmbH for its customer portal.
Success Stories from the ITHM Network
Markel works with Xaleon’s Co-browsing Customer support software to enable virtual communication with their clients
But why should brokers care?
Until 2025, the number of
brokers are expected to drop by 18%-23%!
EY Innovalue 2020
Shift to digital channels even before Covid-19
Brokers are being challengedby all sides
Direct insurers
Market places
Comparisonportals
FinancePortals
Insurtechs
Online Brokers
But there are also new supporters rising
AI business platform that offersinsurers, and policyholders a personalized way to distribute andreceive products and services.
Kasko is an insurancedistribution network that allowsyou to quickly and easilyintegrate insurance productsinto a site, service, or app.
wefox has built up a network ofthousands of digitally enabledadvisors across Europe whichincreases customer satisfaction, reduces customer acquisition costs, increases cross-selling anddecreases churn.
Xaleon enables clients to empower theirsales, customer services and marketingteams to mirror in-person experiences, enabling them to remain competitive in a world of hyperconnectivity andpersonalisation.
CoverGo is a fully configurable, whitelabel, modular, no-code insuranceplatform for omni-channel distribution, policy admin and claims.
Virado puts the insurance broker back in the middle with an on-demandoffer for millennials.
What should the broker of the future
look like?
Let’s discus!
© 2020 InsurTech Hub Munich
InsurTech Hub Munich
Christian GnamManaging Director
+49 89 [email protected]