Friday, February 21, 2020

3 Insurance and Insurtech Trends in Germany for 2019

The 4th Innovario Conference happened in Bonn, Germany made me excited not just due to the keynotes, talks, pitches and used cases but also they have conference APP that really worked! A really cool App that allowed users to contact other people and set appointments. A great innovation making the world smaller for the insurance communities.

I was fortunate to represent Digitalscouting.de and handle 1 keynote in front of 600 insurance industry professionals – and I learned 3 things;

1. I saw a lot of traditional insurers than any other events and conferences. Innovario is a great entry point for traditional, small and conservative players to become one of the digital insurance companies.

I am encouraging these traditional insurance companies to try and go with other events to discover trends, meet and greet a lot of potential people to connect with.

I also realized that a portion of the insurance industry still not embracing the digital transformation by allocating the necessary resources that would provide more opportunities for their business growth.

2. #IoT is coming to the insurance industry – to be specific GROHE. Within the past 6 months of I saw them in most of the insurance events and conferences I attended, from Viena, Berlin also in Las Vegas.

They developed this great IoT device called GROHE Sense that will aid you to prevent water damages in your house by monitoring and regulating your water using an APP on your phone! Isn’t that great! More like an expression than a question to me 🙂

I personally think that this is one of the used cases combining IoT to the insurance industry. Well, let’s see how this innovation will perform in the long-term together with other initiatives in the insurtech industry.

3. They had former and soon to be former C-suits that held on to the escapist ideas that the regulators will save them.

Dr. Frank Grund as one of the most important insurance supervision in Europe in our rich discussion on previous Digisurance underlined they are ready and willing to accept C-suits from outside the insurance industry. They recognized the solutions and bend their rules just to make this idea in reality and came from him, it is not the obligation of the regulators to save incumbents.

See the video here.

Special thanks to Prof. Fred Wagner one of the intellectual center of the insurance industry in Germany for inviting me and also to the rest of the team!

Full Vlog in our YouTube channel – just click here.

itsmePNPhttp://prakashpdl.com.np/
Prakash is a tech freak, passionate about every new gadget and technology that comes his way. Always searching, always curios, he managed to gather an astounding experience that is very useful in his journalistic career.

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