Cologne, October 11, 2017 - Within the framework of the Startupconthe major German start-up conference (http://www.startupcon.de/ ), InsurLab Germany hosted a major InsurTech conference in Cologne today. Participants from the insurance industry, InsurTechs, venture capital companies and universities discussed issues of digitalization and innovation in the insurance industry in two blocks.
The first block of the conference was devoted to "How Insurers Drive Innovation. Bernhard Lingens, University of St. Gallen, in conversation with Stefan Riedel, IBM Germany, explained how "business eco-systems" need to be designed to foster innovation. "These systems do not emerge randomly or even anarchistically; they need a strong organizer." Patric Fedlmeier, deputy CEO of Provinzial Rheinland, reported on the technical and business challenges of digitalization for established insurers. "We want to defend our customer interface and continue to grow." As early as 2000, he said, Provinzial made its first investment in a technology startup. Thomas Bischof, member of the Executive Board and designated CEO of Württembergische Versicherungen, then presented examples of how his company is meeting the challenge of the digital revolution in the insurance industry and how Württembergische is using its own startup Treefin as a test lab. "Treefin helps us develop customized solutions for our customers and sales partners." Concluding the first block, Timo Dreger (Managing Director, Apeiron Investment Group) argued that access to customers and their data will determine the future of companies. "Google and Amazon have lots of customers and their data, so do insurers - but they're not making enough of it yet."
In the afternoon, the focus was on representatives of the new players from the ranks of InsurTechs. Under the overall topic "How InsurTech Startups Drive Innovation", Max Bachem, Chief Strategy Office Coya Hartmut and Julian Teicke, Founders of Wefox, and Nicolas Witte, Managing Director Control€xpert presented the strategies and challenges of their startups. Fritz Oitdmann, Managing Partner Acton Capital Partners explained how he evaluates new business models and makes investment decisions in InsurTech startups.
Next event: InsurLab Germany Pitch-Day and ceremonial opening InsurLab Germany, November 13, 2017.
On the afternoon of November 13, InsurLab Germany will hold its first Pitch Day for startups around the topic of insurtech. Startups, insurers, private investors and venture capital representatives are invited. The competing startups will compete in two categories for the InsurLab Germany "Best InsurTech Startup" award. The award ceremony will take place in the evening during the festive opening of InsurLab Germany, which is expected to be attended by high-profile representatives from the state of North Rhine-Westphalia, the city of Cologne, the German insurance industry and the InsurTech scene.
More information about:
Ilka Luetz-Walzog
InsurLab Germany
Tel.: +49 (0)2203 290 0730
Mobile: +49 (0)1590 400 8864