On Tuesday, 26th of June, the members of the Plug and Play InsurTech Europe ecosystem celebrated the culmination of the three-month batch program at Expo Day, where the partners were gradually merged with the selected startups to work together on innovation solutions. Well-known insurance companies, brokers and experts from the industry were present to see the startups from batch 0 program on stage. In a sophisticated panel of experts entitled “Startup and Corporate Collaboration – how to make a pilot work”, the startups and corporates shared their insights and experiences gained during the previous program. An imperative success factors for the startups ist that corporates need to have a clear understanding of the problem they want to solve and KPI’s that measure the success of that. From the corporate point of view pilot projects are best set into motion when the organizations just has the guts to try out a new way of thinking and solving business problems.
Plug and Play, the world’s most active investor and most successful startup accelerator from Silicon Valley, has arrived in Munich. With success stories such as Google, Paypal and Logitech, Plug and Play has made a name for itself and has now gained a foothold in Munich with three different verticals. In addition to the programs Digital Health and Retail, the largest vertical came to Germany – InsurTech. Partners like Versicherungskammer Bayern, Munich Re, Allianz and Talanx already trust in the abilities of the startup giant. Meanwhile, international insurance companies such as Irish Life have joined the Munich branch and are trying together to move the European insurance industry one step further towards innovation and digitization.
Of course, strategic partner and locally based Insurtech Hub Munich was part of the expo day, supporting the Munich plug and play office, opening up the event with us and supporting us alongside the program. Both institutions benefit from each other’s networks and support each other in achieving their goals of creating the future of insurance. The selection process for the next joint batch of InsurTech Europe is starting as we type and will begin in October 2018.
Written by Plug and Play https://www.plugandplaytechcenter.com/munich/