Startups Shaping Intelligent Insurance Graduate from Startupbootcamp InsurTech

Startups Shaping Intelligent Insurance Graduate from Startupbootcamp InsurTech
04.05.2017 01:30 pm

Startups Shaping Intelligent Insurance Graduate from Startupbootcamp InsurTech


 Insurance is experiencing synthesis: the coming together of various market constituents to create a connected whole. Synthesis is fusing the traditional and the new, incumbents and startups, and two complementary sets of stakeholders supported by digital technology and new ways of doing things. How are we seeing synthesis in insurance? Through collaboration and partnerships between large and world-renowned insurance companies and new market players. And synthesis is shaping intelligent insurance.

The 2017 Startupbootcamp InsurTech Demo Day in London saw ten startups and one startup-in-residence showcase their businesses and show how they are changing insurance, to an audience of more than 850 people, including mentors, investors, participants within the insurance technology community, and 66 major insurance companies, 15% of which were U.S. based insurers.
Sabine VanderLinden, Managing Director at Startupbootcamp InsurTech said: “We have seen 1,000s of propositions presented to us during the past few months. We are pleased to have worked this year with a varied group of entrepreneurs with two clear underlying goals: 1) to make data more relevant for every single insurer and 2) to personalize engagements with businesses and individuals.” 

In the last 12 months, mini eruptions across the insurance industry have occurred, caused by new market entrants impacting an insurance market ripe for change. InsurTech has gone from another buzzword and an initial eruption of ideas, to an industry segment where there is tangible evidence of innovation and collaboration taking place. Through collaboration and engagement, 2017 will see bridges gradually being built to connect the two converging worlds. 

“For LBG, partnering with Startupbootcamp InsurTech has really helped promote our Innovation agenda internally. It helps us facilitate internal conversations; having access to a wide variety of interesting start-ups, with an open environment in which to engage with them, has helped us build a knowledge base, making those conversations internally more tangible and engaging. It has also been valuable meeting and interacting with peers from across the industry, hearing about different corporate approaches to innovation & seeing where interest in the market is shifting,” added Meera Last, Innovation Manager, Lloyds Banking Group.

The day also welcomed on stage Thomas Ollivier, Head of Sharing Economy and Emerging Practices at MAIF, a French insurer that has allocated a €125 million fund towards sharing economy startups. Ollivier shared his learnings of working with startups within the sharing economy space and instilled MAIF’s best practices and insights to the attendees and insurers in the room.

“My learnings from working with startups are threefold: 1. Innovation is not an objective to be achieved, it’s a cultural movement and a creative energy of value. 2. Customer centric approaches have to be the only drivers for disruptive services, not the old rules! 3. Working with startups reveals the internal potential of an incumbent and creates convergences between personal aspirations and corporate needs,” said Thomas Ollivier, Head of Sharing Economy, MAIF.

Related News

Prudential, Aflac, Liberty Mutual and Blue Prism join Reuters Events to discuss the seismic impact of the insurance trend that won’t slow down: Digital Labour and Automation

Join the live webinar to get actionable insight to develop strategy for your organization

It is no surprise that 42 .5% of carriers we surveyed stated... Read more »

The Future of Insurance USA 2020: Discover the CEO and C-level Speakers Confirmed for Reuters Events Flagship Insurance Conference

Reuters Events have today launched their flagship insurance event, The Future of Insurance USA (November 16-18th 2020). The Future of Insurance USA is the... Read more »

CPP extends cyber offering in Turkey with major insurance deal

CPP Group Plc, the global product and services company specialising in the financial services and insurance market, has further developed its cybersecurity... Read more »

Ziglu Launches Insurance Programme

Ziglu, the new cryptocurrency challenger, has launched an insurance programme for customers holding cryptocurrencies, providing greater security and peace of mind.

Each... Read more »

Lemonade Raises $319 Million In U.S. IPO

Lemonade, which is backed by SoftBank Group Corp, is set to raise $319 million in its U.S. initial public offering and Lemonade, Inc. (“Lemonade”) today announced the pricing... Read more »

INSTANDA bolsters international expansion with first European partnership

INSTANDA, the leading customer and policy management platform for the insurance industry, has today announced a new European partnership with ... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel