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11. October 2017

InsurLab Germany hosts InsurTech Conference in Cologne

Cologne, 11 October 2017 - InsurLab Germany today hosted a major InsurTech conference in Cologne as part of Startupcon, the major German conference for start-ups (http://www.startupcon.de/ ). Participants from the insurance industry, InsurTechs, venture capital companies and universities discussed in two blocks questions of digitization and innovation in the insurance industry.

The first block of the conference was entitled "How Insurers Drive Innovation". Bernhard Lingens, University of St. Gallen, explained in an interview with Stefan Riedel, IBM Germany, how "Business Eco-Systems" must be designed in order to promote innovation. "These systems do not emerge by chance or even anarchistically, they need a strong organizer. Patric Fedlmeier, Deputy Chairman of the Board of Provinzial Rheinland, reported on the technical and business challenges of digitization for established insurers. "We want to defend our customer interface and continue to grow. Provinzial had already made its first investment in a technology start-up in 2000. Thomas Bischof, member of the Board of Management and designated Chairman of the Board of Management of Württembergische Versicherungen, then presented examples of how his company is meeting the challenge of the digital revolution in the insurance industry and how the Württembergische uses its own start-up Treefin as a test laboratory. "Treefin helps us to develop tailor-made solutions for our customers and sales partners". At the end of the first block, Timo Dreger (Managing Director, Apeiron Investment Group) explained that access to customers and their data is crucial for the future of companies. "Google and Amazon have many customers and their data, as do the insurers - but they don't make enough of it yet.

In the afternoon, the representatives of the new players from the InsurTechs ranks were the focus of interest. Under the main topic "How InsurTech Startups Drive Innovation" Max Bachem, Chief Strategy Office Coya Hartmut and Julian Teicke, founder of Wefox, and Nicolas Witte, Managing Director Control€xpert presented the strategies and challenges of their startups. Fritz Oitdmann, Managing Partner of Acton Capital Partners, explained how he assesses new business models and makes investment decisions in InsurTech start-ups.

Next Event: InsurLab Germany Pitch Day and Opening Ceremony InsurLab Germany, 13 November 2017

In the afternoon of 13.11. the InsurLab Germany will hold its first Pitch Day for startups around the topic Insurtech. Invited are startups, insurers, private investors and venture capital representatives. The starting start-ups will compete in two categories for the InsurLab Germany "Best InsurTech Startup" award. The award ceremony will take place in the evening during the opening ceremony of InsurLab Germany, which will be attended by top-class representatives of the state of North Rhine-Westphalia, the city of Cologne, the German insurance industry and the InsurTech scene.

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