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InsurTech in Bavaria: established partners and accelerators for start-ups
Bavaria is expanding its role as the home of digital start-ups using the current ecosystem and motivated start-ups, with regard to the InsurTech too. As the big players in the insurance segment have known how important young start-ups’ opinions, ideas and innovation are for a long time.
One of the results of this finding: the W1 Forward InsurTech Accelerator support programme developed last year and the foundation of the InsurTech Hub Munich e.V. by twelve reputable insurance companies with the common goal of actively shaping the industry’s digital transformation. And as if that were not enough.
The DIA start-up conference is coming to Munich
With the InsurTech hub being funded as part of the government’s Digital Hub Initiative, the Bavarian state capital has been able to bring another milestone to Bavaria with the Digital Insurance Agenda (DIA). The largest InsurTech industry trade fair of its kind set up camp in the Eisbach Studios on 15 and 16 November. The official partner was InsurTech Hub Munich e.V., which 12 insurance companies (ADAC, ARAG, Die Bayerische, Generali, HUK-Coburg, Versicherungskammer Bayern and WWK) in total are involved. The DIA was a hive of activity: just under 60 InsurTechs from all over the world presented their latest digital solutions to more than 1,000 visitors and leading technology companies held exciting keynotes. DIA’s guest appearance in Bavaria is also not just a one-day wonder. The organisers recently announced that the DIA’s autumn event will take place in Munich. An appointment can already be blocked in Munich for late November 2018.
That concludes two days of talking about reinventing insurance. Don’t forget to cast your vote for the DIAmond Award and we look forward to seeing you in the bar. Have a safe trip home and see you next time at DIA! Yours, @rogerpeverelli & @ReggyDeFeniks #DIAMunich pic.twitter.com/FR8jCzSXlK— The DIA Community (@TheDIACommunity) 16. November 2017
InsurTech accelerator at Werk1
The DIA also plays an important part in the W1 Forward InsurTech Accelerator. With the project already having been extremely well received in 2016, five start-ups were selected from an international field of applicants for the second batch at the start of 2017. The start-ups were able to benefit from comprehensive support in the Werk1 incubator including personal coaching and extensive networking. These also included visiting specialist talks and making relevant contacts. This year’s batch ended on 16 November with the second event day at DIA. The selected start-ups Heartshield, Etherisc, Karlsson, Personiq and Tapoly presented their final pitches to international investors there – a test and opportunity at the same time.
Support from the Silicon Valley
Besides the worldwide start-up conference and InsurTech accelerator, there has also been support from the Silicon Valley since this year. As the renowned Plug and Play accelerator has set up a Bavarian InsurTech spin-off. Together with the InsurTech Hub Munich, there will now also be a Plug and Play InsurTech Vertical in Munich in the near future. The kick-off event was already held as the opening event to DIA on 14 November, the actual start is planned for the beginning of 2018. Thanks to the experience that Invest in Bavaria has already gained with InsurTech support, we are thrilled to have convinced Plug and Play of Bavaria and promote the InsurTech location even more.