Emerging InsurTech Trends Q4 2018 — DIA Munich
Last week over 1000 InsurTech and Insurance players visited the DIA 2018 in Munich and as ever the event was perfectly organised by Roger Peverelli, Reggy de Feniks and team. Being bombarded recently by so many invites to insurtech events, I noticed again why I always like DIA so much:
- The professional and smooth organisation
- The fact that everybody feels welcome! The corporates with their insurers’ style, representing the rules of big organisations, and the insurtechs in their sneakers, representing the flexibilities needed in the start-up world. And most importantly that each side respects the other!
- The quality of insights and global knowledge around the topic
- Nearly all relevant players in the one place
- Finally and mainly, the DIA guys — ❤️ what they do! Their passion brings results money can't buy! You can feel it, you can see it! This is what an asset-intensive and margin-spoilt industry like insurance urgently needs to learn.
Hot and less-hot topics
All parties are becoming more realistic as to how hard the start-up business is. The influence of big VCs was clearly in the air. As always, on the sideline you got the most interesting topics chatting with insiders.😀 Here’s a summary of the most important ones:
- Ping An, Ping An & Ping An 📈
Jonathan Larsen, Chief Innovation Officer at Ping-An Group did an impressive walk-through of their strategy. Ending with the offer to insurtechs to access their giant $1B voyager fund which targets Fintech, Insurtech & Health-Tech start-ups. I can tell everybody was impressed by the speed of execution, pace of innovation and pool of talents (for example 27K software developers).
2. Deal-flow
The demand for qualified venture deals was cleary the second highest topic. On the insurers’ side, the huge amount of deals which need to be qualified — on the experienced investors’ side, the clear message:
‘We need good deal flow!’
3. Health is the next giant sub-wave
Health insurance and health-tech related topics are strongly emerging.
4. Other topics
AI-based dynamic pricing for commercial insurance, Cytora and all followers is already well underway. Meanwhile it’s clear that, for good reasons, nearly every insurtech in this field is locked by a major commercial-line insurer and that there are only a few big insurers left who have not yet started to build or cooperate in this battle.
Other relevant topics:
#Blockchain 👇
#AI 👆
#Health & #Life👆
#China 👆
#Greenfield API Based Core-System 👆
#Believing in fixing Core-System legacy issues 👇
#Financial Eco-Play, or in other words Revolut 😀👆
#Africa 👆
#Focus on impact & delivery 👆
In a nutshell you can see, that the Insurtech wave is moving faster than Fintech did but its maturity is still 3–4 years behind. The window for insurers to act will close quickly. Top Venture Capital players have more than understood how much money will be made in an industry where the margins are still high and efficiency not where it could be.
