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1st Hamburg Insurance Innovation Day

A great networking opportunity and many exciting digital ideas: the 1st Hamburg Insurance Innovation Day convinced with a well thought-out and practice-oriented concept!

The aim of the event, which was organised for the first time by HSBA Hamburg School of Business Administration on 29 May 2018, was to provide market participants with a valid platform to network with relevant start-ups from the InsurTech scene, as well as present current developments and trends in the InsurTech sector for the insurance industry. Decision-makers and employees from insurance companies, representatives from brokerage houses and distributors as well as the founders of start-ups, service providers and investors all came together. In total, more than 300 participants fully occupied the Albert-Schäfer Saal at the Hamburg Chamber of Commerce.

"We chose the participating start-ups to maximise the existing value chain. This way we showed up exciting new offerings for our cooperation partners in the insurance business" said Professor Dr. Florian Elert from Hamburg School of Business Administration who organised the event.

After an introduction to the topic, 20 start-ups from the InsureTech scene introduced themselves with entertaining 20-minute presentations: Adam Riese, bi: sure, Crowdheroes, Cysmo, Element, Codecamp: N - PSD2 meets Insurance, Getsafe, Haftplicht Helden, KASKO, Mjoo GmbH, Nect, Neodigital, One, Picsure, Profino, SkenData - Value 14, Smart Insur Tech GmbH, sum.cumo and wefox.

The start-up presentations were framed by a series of specialist lectures. Dr. Norbert Rollinger, Chairman of the Board of Management of R + V Versicherung AG, highlighted the company's own digital strategy "Growth through Change" and highlighted the importance of digitalisation, agility and customer proximity for future corporate success. Holger Köckritz, Head of Strategy & Digital Transformation Office, Allianz SE, talked about Allianz's experience in the digital transformation of the insurance business model and introduced the "Allianz X Strategic Investment Arm". Both insurers are investing considerable sums; at Allianz, the budget for targeted cooperation in this area is 430 million euros. R + V invests 100 million euros annually in the digital transformation.

Dr. Stephan G. Hans, Managing Director of SDA SE, pointed out how platforms and digital forms of cooperation compete with established insurers and how they can optimally position themselves in this field of tension. They need to engage the touchpoints with customers, be able to partner with InsureTechs, make the most of their existing resources such as knowledge and customer relationships, and last but not least retain data sovereignty, "said Hans, citing the four key criteria for insurers' future success in digital transformation. SDA SE is a joint venture between Signal Iduna and the msg group in cooperation with IBM Germany.

In a final panel moderated by Professor Elert, digital innovations and trends in the importance of insurers and distributors were discussed. As organiser, the Hamburg School of Business Administration drew a very positive conclusion. "Hamburg, a hotbed of innovation, has launched a flagship project, the Insurance Innovation Day, and we will take that momentum and keep it going - also in other industries," said Dr Uve Samuels, Managing Director of HSBA. The Finanzplatz Hamburg e.V. acted as patron. After the great popularity of the conference, HSBA plans to organise an annual Insurance Innovation Day. The event was supported by procontra as media partner and the Haus Alsterspree.