Strategic partnership to promote investment and digital transformation in the insurance industry / Europe-wide networking of InsurTechs, insurers and investors / Testing of new business models
Düsseldorf / Munich, January 14, 2019 - The auditing and consulting firm PricewaterhouseCoopers (PwC) has become a new strategic partner of the InsurTech Hub Munich (ITHM), which was founded in 2017. The digital hub, which is funded by the Federal Ministry for Economic Affairs and Energy (BMWi), supports and connects innovative insurance start-ups (InsurTechs), established insurance companies and investors in order to drive forward the digital transformation of the industry.
"We are delighted to have gained the ideal partner in PwC, who will support us in expanding our network and offer the start-ups of the InsurTech Hub Munich decisive business insights and innovation ideas," explained Dr. Jörg Richtsfeld, CEO of ITHM and Director of Allianz X GmbH.
PwC supports with know-how and network
As a new partner, PwC will support company founders and start-up employees with questions relating to new technologies as well as strategic, regulatory, actuarial, tax and legal issues. This also includes involvement in international industry meetings and events, such as the so-called Early Stage Accelerator.
"The insurance industry is facing profound change. The InsurTech Hub Munich offers us the opportunity to play an early role in shaping innovations in the industry and testing new business models. As a partner of the Hub, we want to play an active role in shaping and making our contribution to the digitalization of the insurance industry," says Julia Unkel, Partner and Head of the Insurance Sector at PwC Germany. PwC also intends to use the insights gained from its involvement to develop new products and services for insurance companies in the future.
PwC will provide financial resources as part of the strategic partnership and will be involved in the ITHM program as a technical contact. PwC will also have a seat on the advisory board.
InsurTech Hub already a success story
Since it was founded by twelve leading insurance companies, the InsurTech Hub Munich has supported more than 35 start-ups and gained numerous new partners. In Munich, ITHM operates a digital incubator for InsurTechs together with the Werk 1 start-up center. Together with its partner "Plug and Play", the hub has also established a European platform for InsurTechs. ITHM has also been a member of the international "Global InsurTech Alliance" network since the spring of this year.
Further information:
https://www.pwc.de/versicherungen
https://www.insurtech-munich.com
