Peter Stockhorst took over as CEO of InsurLab Germany following his successful election at the general meeting. In this interview, he reveals why he is enthusiastic about the ecosystem, what drives him - and why digitalization is a friend of the brave.
Peter, you recently became Chairman of the Board of InsurLab Germany - in addition to your duties as Chief Digital Business & Partnerships Officer of Zurich Group Germany and CEO of DA Direkt. What excites you about your role at InsurLab?
We have to keep breaking new ground in the world of insurance - that is my personal conviction. It is important to use new approaches to create real added value for customers in their everyday lives. I have been working on this at Zurich Group Germany since 2018. Overall, I have been involved in the digital insurance business in various board functions since 2008. As the new CEO of InsurLab Germany, I would now like to contribute my practical perspective to actually make the world of insurance better for our policyholders.
I am particularly looking forward to working with the newly formed InsurLab Germany Board. We bring together very different experiences and perspectives - that is a great strength and at the same time very exciting.
„We have to keep breaking new ground in the insurance world - that is my personal conviction.“
InsurLab has been bringing insurers and start-ups together since it was founded. How do you see the interaction between the two worlds?
Established insurers need the fresh ideas of start-ups. And both sides can benefit enormously from each other. In particular, insurers bring a lot of experience, a large customer base and financial strength - start-ups, on the other hand, bring creativity, agility and a high level of innovation overall.
The best example is getolo. We launched this start-up in 2019 as Zurich Group Germany acquired and in cooperation with our direct insurer DA Direct We have now created the largest InsurTech in Germany in terms of premium income. And our cooperation with start-ups is even broader and more diverse. We have been specifically promoting innovation for years through initiatives such as the Zurich Innovation Championship. LoyJoy, a start-up member and alumnus of the Collaborator-program of InsurLab, for example, won this international competition last year. Examples like these show that new players and established companies can develop great clout together. One thing is clear to me: such collaborations are crucial for the future viability of our industry. I would also like to promote this type of collaboration in InsurLab.
You have accompanied numerous transformation projects within the Zurich Group Germany and also in the time before that. In your opinion, what are the most important success factors that InsurLab members can learn from?
Firstly: genuine customer orientation. Digitalization must always be geared towards customer benefit - it must not be an end in itself.
Secondly, support from top management. Transformation requires leadership, because change always encounters resistance of all kinds.
Thirdly, open and continuous communication. Change can only succeed if the entire team always keeps its bearings - especially in phases of uncertainty.
And last but not least: clear focus. For a manager, successful transformation means always being close to the action and keeping an eye on the big goal with the team.
Are insurers close enough to their customers today?
As an industry, we have already achieved a lot in recent years, particularly in the area of digital services. Over the years, we have seen an increase in the use of digital offerings along the entire customer journey. But the potential is even greater. The intelligent use of data will also become increasingly important. Overall, I see great opportunities for all players in the market - from established insurers to start-ups. If they consistently seek out the opportunities offered by digitalization.
What potential do you see in technologies such as artificial intelligence?
Artificial intelligence is definitely a game changer. As with many new technologies, we are currently in a phase of disillusionment after exaggerated expectations at the beginning. But in the medium and long term, AI will take us to a completely new level of performance.
AI is already helping us to answer customer inquiries faster and make processes more efficient. At Zurich Group Germany, for example, we use Gen AI in customer communication, which considerably shortens processing times and thus also significantly increases customer satisfaction.
They are two sides of the same coin - greater customer satisfaction and increased productivity. This needs to be emphasized again and again. The potential for the entire insurance industry is enormous. It goes without saying that this technology must be used responsibly and transparently.
„Digitalization is a friend of the brave. And it's also fun.“
What motivates you personally to keep breaking new ground?
I want to design. Make things better. Insurance is important for our society and I want to help ensure that it remains important. This includes constantly improving them. Otherwise we will lose our social relevance.
Digitalization in particular is helping us to do this. It is a friend of the brave. And it's also fun. Before my time in the digital business, I was responsible for corporate development at an insurance group for many years, where I initiated and then managed a large number of transformation projects. That was also an exciting time. But in the digital business, I am much closer to the customers and can see results immediately. It's simply fun to develop new things as part of a team and achieve success together.
„With InsurLab, I want to make a tangible contribution to the transformation of our industry.“
What are your plans for your time as InsurLab CEO?
First of all, I would like to emphasize that we have excellent conditions: Over 90 members from insurance companies, start-ups, academia and consulting. I will be taking a closer look at this over the next few weeks. Our strengths, our opportunities. And then the Executive Board team will have to review and redefine our positioning.
In my view, one focus will be on new technologies. As already emphasized, AI is a game changer and I see many parallels with the beginning of the commercialization of the Internet many years ago. And now we as the insurance industry should lead the way in this development. In the interests of our customers. And in our own interests, if we don't want to lose our social significance.
With InsurLab, I want to make a tangible contribution to the transformation of our industry.
Dear Peter, thank you very much for the interview!
More background information on the InsurLab Members' Meeting 2025 and Peter's election as Chairman of the Board of our industry initiative can be found in our press release:
