InsurLab Germany hosts InsurTech conference in Cologne – the customer interface is in focus
Cologne, 11th October 2017 – InsurLab Germany hosted a large InsurTech conference in Cologne during the Startupcon, the large German founding conference (http://www.startupcon.de/). Participants from the insurance industry, InsurTechs, venture capital firms and universities were discussing issues of digitization and innovation in the insurance industry in two blocks.
The first block of the conference was under the headline "How Insurers Drive Innovation". Bernhard Lingens, University of St. Gallen, talked to Stefan Riedel, IBM Germany about how "Business Eco-Systems" should be designed to promote innovation. "These systems are not accidental or even anarchist, they need a strong organizer". Patric Fedlmeier, Deputy Chairman of the Board of Provinzial Rheinland, discussed the technological and business model challenges of digitization for established insurers. "We want to defend our customer interface and continue to grow." Already in the year 2000 Provinzial Rheinland had made its first investment in a technology startup. The next speaker, Thomas Bischof, Member of the Board and designated Chairman of the Board of Württembergische Versicherungen, presented examples of how his company addresses the challenges of the digital revolution in the insurance industry and how Württembergische uses its own startup Treefin as a test environment. At the end of the first block, Timo Dreger, Managing Director, Apeiron Investment Group, made the point that access to the customer and his data will decide about the future of companies. "Google and Amazon have many customers and their data. Insurers have the same asset - but they do not make enough of it yet."
In the afternoon, the representatives of the new players from the ranks of the InsurTechs stood in the center of the interest. Under the headline "How InsurTech Startups Drive Innovation" Max Bachem, Chief Strategy Officer Coya, Hartmut and Julian Teicke, founders of Wefox, and Nicolas Witte, Managing Director Control €xpert, presented their startups and the challenges they have to face. 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 opening ceremony of InsurLab Germany, 13th November 2017
On 13th November, InsurLab Germany will hold its first Pitch Day for startups around Insurtech related topics. Invited are startups, insurers, private investors and venture capital representatives. The competing startups fight in two categories for the InsurLab Germany "Best-InsurTech-Startup" price. The award ceremony will be held in the evening in the context of the opening ceremony of the InsurLab Germany, to which high-caliber representatives from the state of North Rhine-Westphalia, the city of Cologne, the German insurance industry and the InsurTech scene are expected.
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