Shaping innovation in the insurance industry // ubirch @ EXEC Insurtech ‘17
Let’s face it. The insurance industry needs to prepare for change.
Nowadays, a variety of breakthrough technologies are set to trigger a fundamental transformation of the insurance industry. Those technologies include the Internet of Things, digital & mobile platforms, smart contracts & blockchain as well as artificial intelligence. By providing new ways of measuring, controlling and pricing risk while simultaneously engaging more efficiently with customers, they aspire to become an integral part of the future insurance business.
Creating new insurance products, services, and business models around these technologies provides opportunities for traditional insurers to reinvent and modernize themselves. Further, they are also challenged to respond to new sources of competition from lean and dynamic, mainly software-driven companies which are showing up on the big stage by providing new services, focusing on unmet customer demand and being more cost-efficient.
Therefore, in order to meet these challenges and turn the vast possibilities into a reality the ubrich team joined other startups, investors and insurance executives at the EXEC Insurtech conference. It is said to be Europe’s Prime Insurance Technology & Innovation Event which took place in Cologne, Germany this year.
Through a mixture of startup pitches, workshops and networking opportunities the goal was to bring innovation to life in the insurance industry and we from ubirch were happy to be a part with our ideas. Discussing future trends and potential partnerships with like-minded individuals and organizations in such a supportive environment brings immense value to everyone involved. Germany is proving to be a European hotspot for developing and implementing disruptive technologies with a strong practical background.
Big thanks to the organizers of EXEC Insurtech and see you again next year!
In short — Blockchain for Things.
We enable the creation of an unbreakable chain of trust starting from the moment of data measurement to persistent storage and further secure processing of the generated data. Designed to guarantee the highest levels of trust and integrity, a combination of provable cryptographic identities, chained data points and blockchain anchoring protects our clients against a broad range of IoT related-risks.
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