How a Bavarian start-up is making damage assessment more efficient and accurate at the state’s largest building insurance company.

Drone technology meets insurance claim settlement.

Versicherungskammer Bayern (VKB) is Bavaria’s largest building insurance company. The assessment of elemental, major and cumulative losses – e.g., following a hailstorm or major fire – is complex and requires significant manpower. Enter FairFleet’s crew of 3,000 drone pilots: Since 2019, Europe’s largest drone network (covering 85 countries) has been collaborating with VKB. High resolution drone data of the damaged locations allow fast assessments, especially in cases when buildings are inaccessible.

FairFleet has won many awards in the digital start-up scene. Silicon Valley’s Plug&Play accelerator, which also operates a location in Munich, (see below) has selected them five times to participate in their programmes. Co-founder Alexander Engelfried says: “These days, Bavaria is a good place to be for InsurTech start-ups. The network that has evolved here over the past few decades can really help you accelerate your business.” 

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This is why Bavaria is so good at cross-industry innovation in Fin- & InsurTech.

Diverse business opportunities 

Bavaria’s established strength as a finance and insurance centre also makes it an excellent breeding ground for the Fin- & InsurTech scene. Large banks and insurance companies collaborate with start-ups, universities and research institutions to develop new business models and technologies. 


Access to talent 

Bavaria has no lack of fresh young talent in the world of banking and insurance, thanks to numerous renowned university programmes and research centres as well as vocational training and dual study programmes specialising in the field. 

Effective networks 

Over the past decade, a number of private as well and state-funded accelerators have been established. Bavaria also hosts many internationally recognised events, allowing for interdisciplinary networking and making the search for potential partners easier.


Glocal perspectives 

Major banks and insurance companies in Bavaria operate on a global scale – as do their start-up counterparts. Bavaria has also become a centre for international collaboration and foreign investment which in turn drives Fin- &  InsurTech innovation.  

Want to know more about why Bavaria is a hotbed for innovation in Fin- & InsurTech?

Scalable Capital

Why Munich (in addition to London) is the location of choice for this cutting-edge digital wealth management and online brokerage platform. 

Scalable Capital is an AI-based application that gives more people access to professional asset management which – until recently – was only attainable for high-net-worth individuals. In a five-minute interview with Invest in Bavaria, Co-CEO Erik Podzuweit mentions various reasons to locate in Munich: access to talent and investors, partnerships with universities and open-minded regulators. The result? With over two billion euros of managed funds, Scalable Capital is the largest European digital asset manager today.


How a start-up is solving the top pain points in insurance claim processes. 

MotionsCloud is an all in one mobile & AI solution that reduces insurance claim cost and claim cycle time to 3 hours instead of 3 weeks, saving up to 75% on the claims process cost. “The point of claim is the point of pain for insurance company, let’s change it!”, says MotionsCloud CEO LeX Tan, illustrating just how cross-industry innovation can mutually benefit both start-ups and established players. The company was founded as part of the InsurTech Hub Munich accelerator program, which is backed by leading insurers, including Allianz, Generali and Munich Re. 
Tan elaborates: “Founding MotionsCloud in an environment like the InsurTech Hub Munich not only gave us immediate access to clients – it also made it easy to find sparring partners who help us make our product better. Thanks to initiatives like the InsurTech Hub, Bavaria has truly become a great launch pad for FinTech start-ups with an ambition to build a business on a global scale.”  

Looking for networking opportunities in the Fin- & InsurTech area?

Let us show you how your company can use the advantages Bavaria has to offer for building and growing your Fin- or InsurTech business. As the business promotion agency of the State of Bavaria, our services are free of charge. 

Why does cross-industry innovation thrive in the Bavarian Fin- & InsurTech ecosystem?

InsurTech Hub Munich is a vibrant ecosystem of start-ups, corporate partners, investors and research institutions – all based in Munich, the heart of Germany’s insurance sector. The platform connects multiple players across industries and facilitates their day-to-day exchange, both virtually and on site. Tom Van den Brulle is Global Head of Innovation at Munich Re and and Chairman of the Board of InsurTech Hub Munich. We spoke to the native Belgian about the region’s Fin- & InsurTech scene and the role of InsurTech Hub Munich. 

How Blockchain, a key FinTech technology, is driving cross-industry innovation in Bavaria.

To support the creation of a globally competitive blockchain ecosystem, the Bavarian Government has launched a comprehensive three-tier strategy. It focuses on fostering blockchain-based cross-industry innovation – not just in the area of Fin- & InsurTech but also to support applications in logistics, healthcare, energy or e-government, to name just a few. Blockchain Bayern e.V. is a networking platform that brings together 130 members including lawyers, start-ups, corporations and research institutions. Here are three institutions driving interdisciplinary research: 

Bayreuth: Fraunhofer
Blockchain Lab

Garching: Fraunhofer

Munich: TUM
Blockchain Research

See cross-industry innovation in action

We’ll keep you posted throughout the year on what’s happening in the field of cross-industry innovation in different sectors such XR and mobility. 

Artificial Intelligence

Fin- & InsurTech

IoT & Industry 4.0

Mobility & Aerospace

Health, MedTech & Life Sciences

We are looking forward to getting in touch with you.

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