DIGIFIN20 | News: Boost for the digitalisation of the insurance industry

Boost for the digitalisation of the insurance industry

  • The InsurTech Hub Munich and Insurlab Germany cooperate with Bitkom

The insurance industry has been in a state of global change due to digitalisation for several years now. Innovation and disruption are in many cases not driven forward by traditional companies, but rather through cooperations with startups or non-branch players. In order to further increase the pace in Germany and to build new bridges, the InsurTech Hub Munich and Insurlab Germany will cooperate with the digital association Bitkom.

The InsurTech Hub Munich and Insurlab Germany are part of the nationwide Digital Hub InitiativeOrte supported by the Federal Ministry of Economics and Energy, where the digitalisation of the insurance industry is promoted - together with startups, leading service providers, science as well as the federal states and local authorities. Bitkom represents more than 2,500 companies in the digital economy and has a broad, cross-industry network.

Sebastian Pitzler, Managing Director of Insurlab Germany, explains: "We at InsurLab Germany have understood how important networking and the development of collaborative approaches is for the future development of our industry. Therefore it is important for us to continuously expand our network to include strong partners. Bitkom as the leading digital association is an ideal partner. We are looking forward to further cooperation! There is enough to do - let's tackle it together!"

"Disruption often works best when strong established companies join forces with innovative start-ups or players from outside the industry. Together with Bitkom, which has been dedicated to the digital economy for 20 years, we want to increase the pace of innovation in Germany," explains Johannes Wagner, CEO of the InsurTech Hub Munich.

Fabian Nadler, Bitkom's insurance expert, adds: "Together with Insurlab Germany and the InsurTech Hub Munich, we want to push the digitalization of the insurance industry. Together we want to promote the use of digital technologies and the exchange of information on new business models so that Germany can secure and expand its leading position in the financial sector.