And again a new member in InsurLab Germany! Recently Stonefort Insurance S.A. (formerly Builders Direct S.A.) has joined our membership. The Stonefort Group is one of the largest and most successful insurance and reinsurance companies operating in Luxembourg today. With a direct insurer, Stonefort Insurance, and a reinsurer, Stonefort Reinsurance, the Group is ideally structured to provide a complete insurance and reinsurance offering for a wide range of risks and business activities throughout the world.
But enough words on our part – we would much rather give Alexander Lüdtke, designated German Branch Manager of Stonefort Insurance S.A., the opportunity to introduce himself!
Dear Alexander, welcome to our circle of members! Can you briefly introduce your company to us?
Stonefort originally started as a classic reinsurance captive of Hochtief AG. Since its foundation 20 years ago, reinsurance business still forms the primary pillar of the company. For about 10 years we have also been writing primary insurance business, exclusively commercial risks, in order to maintain an optimized diversification. Our focus in direct business has so far been on Benelux and the UK, in Germany we have been active exclusively through MGAs. On an ongoing basis, we will also work the market directly with the newly created branch based in Düsseldorf. Due to our DNA, the focus in Germany will be on the extended craft segment; here we will try to positively change the status quo with the help of innovations both in the wordings and the entire value chain.
How did you come to InsurLab Germany in the first place and why did you decide to join?
For us as a technology-savvy insurer, InsurLab has been at the top of the list of institutions in which we want to play an active role. It was clear to us from the outset that we would also like to be represented in InsurLab Germany at the start of the Branch. That is why we were very pleased to be accepted. We are looking forward to the exchange with established players as well as with exciting start-ups.
That makes us happy to hear! What topics and content are particularly important to you?
I can summarize that very briefly and succinctly: Developments and changes in commercial insurance, automation and the greatest possible use of AI in administration as well as underwriting.
And in which of our activities do you plan to get involved?
We would very much like to play an active role in Topic Group #6, (digital) commercial insurance. Likewise in Topic Group #2, Innovation Management. Both topics are very close to our hearts and we are convinced to deliver added value through collaboration, but also to receive learnings for us. We will also come to Cologne as often as the agenda allows for the individual presentations of relevance and use the contact and network that InsurLab offers us.
Great – we are looking forward to seeing you!