• Platform for networking InsurTech startups and the insurance industry emerges in Cologne
  • Preparations for operational business completed
  • Funding program for young startups announced
  • InsurLab Germany presents "Insurance Shaper of the Year" Pitch Awards
  • Cooperation agreement signed with international partner
  • NRW Minister of Economic Affairs Prof. Dr. Andreas Pinkwart and Cologne's Lord Mayor Henriette Reker as guests at the grand opening of InsurLab Germany in the evening

Cologne, November 13, 2017 - The grand opening of InsurLab Germany e.V. will take place today as part of the two-day EXECinsurtech conference in Cologne.

InsurLab Germany is a unique industry initiative of the German insurance industry. The initiative is currently supported by over 20 insurance companies, various InsurTech startups and service providers. The original impetus for the initiative came from the Lord Mayor of the City of Cologne, the Cologne Chamber of Industry and Commerce, the University of Cologne and the Technical University of Cologne. The initiative sees itself as a think tank for innovation and digitization in the insurance industry and represents the InsurTech sector in the Digital Hub Initiative set up by the German Federal Ministry for Economic Affairs and Energy.

InsurLab Germany is the platform where startups and insurance companies come together. Nowhere else will startups find a larger number of insurance companies driving the innovation and digitalization of their business. InsurLab organizes the simple and direct dialogue of both sides. Digital solutions for the
Life, health and property/casualty insurance are initiated and driven forward. The range of services includes  so-called hackathons, pitch days and reverse pitch days, workshops and joint projects.

As of today, 35 companies have joined InsurLab Germany e.V. as members. Among them are many well-known insurers and startups as well as large consulting and IT companies. The interest in membership in the supporting association remains high and the association continues to grow.

InsurLab offers startups first-class working conditions on its campus in the Carlswerk in Cologne-Mülheim. Member companies can also rent workspaces on the campus as part of "corporate coworking" and work there on innovation topics in close exchange with the startups.

InsurLab Germany has announced a support program for young startups. The founders will receive intensive support from the initiative's mentor network, access to business angels and investors, and free workspace on the InsurLab Germany campus for six months. Startups from the InsurTech sector are invited to submit their application for the program in the period from November 27, 2017 to January 20, 2018; the program will start at the beginning of April 2018.

InsurLab Germany is holding its first pitch competition as part of the EXECinsurtech conference. From over 50 applications, the best 15 InsurTech startups will compete today. In the evening, the "Insurance Shaper of the Year" Awards will be presented in two classes. One winner each will be chosen in the "Seed Phase" and "SeriesA+" categories. As a prize, the most innovative startups can expect an office on the campus of InsurLab Germany or a trip to London, Tel Aviv or Berlin with the opportunity to present their concepts there in front of leading venture capital firms. The jury consists of national and international investors as well as leaders of the insurance industry. The awards will be presented during the evening event.

Today, innovation and digitalization in the insurance industry are increasingly taking place across borders. In this respect, the acquisition of SOSA FinTLV as an international cooperation partner represents an important milestone for the development of InsurLab Germany. SOSA FinTLV operates one of the world's leading innovation zones in Cologne's partner city Tel Aviv, has a large location in New York and a first-class global network. On the evening of November 13, InsurLab Germany and SOSA FinTLV sign a comprehensive cooperation agreement. From now on, SOSA FinTLV will support InsurLab Germany with its many years of expertise in setting up and managing the innovation center in Cologne, as well as promoting networking with Israeli and international startups and venture capital firms. Together, the two organizations will hold events and "Demo Days" with top InsurTech startups.

Also on the evening of November 13, the grand opening of InsurLab Germany will take place as part of EXECinsurtech. The Minister for Economic Affairs, Innovation, Digitalization and Energy of the State of North Rhine-Westphalia, Prof. Dr. Andreas Pinkwart, and the Mayor of Cologne, Henriette Reker, have announced themselves as guests of honor and speakers.  Together with many guests from the insurance industry and the startup scene, Dr. Mathias Bühring-Uhle, Chairman of the Board of InsurLab Germany e.V. and Member of the Board of Gothaer Group, will give the starting signal for the operational work of InsurLab Germany.

Next event: InsurLab Germany Blockchain Conference, December 12, 2017

Together with the City of Cologne, the German Media Academy, the German ICT & Media Institute and the eco Association of the Internet Industry, InsurLab Germany invites you to a dialog with experts around the question "Blockchain applications: Between disruption potential and hype?". Topics such as regulation, legal aspects, trust in the new technology, will be discussed from different perspectives. Ten selected use cases will be presented.