Munich takes a lead role in InsurTech

A few days ago, WERK1, Munich’s incubator for digital entrepreneurship, together with some of the world’s biggest players in the insurance industries and the Bavarian ministry of economics, announced Bavaria’s first InsurTech accelerator program, W1 InsurTech.

The core program is set out for 4 months with the possibility of a 2 months extension for best performing teams, open to start-ups worldwide. The first batch will consist out of a maximum of 5 startups, who will receive a package valued at 80.000€ each.

Throughout their time with the accelerator, the teams will benefit from the infrastructure of one of the best equipped incubators in Munich combined with one-to-one mentorship and a thorough curriculum led by international industry experts. Not to forget, the invaluable network contacts to key influencers and potential investors in the insurance industry.

The W1 InsurTech team is formed by WERK1, the Bavarian Economic Ministry together with the partners (Allianz, ARAG, Die Bayerische, Generali, HUK-Coburg, LV1871, Munich RE, Nürnberger, Swiss RE, VersicherungsKammer Bayern).

Suitable candidates are:

•    Smart entrepreneurs who want to revolutionise the insurance industry

•    Equipped with a ready-to-go concept or business plan

•    A founding team of 2-4 people

The application process has started and will last till 22nd of May. Should you want to find out more and/or wish to apply, please visit the website of the program.