INSURTECH

1. Maturity phase, 1st Unicorn to emerge soon

2. TRENDS

2.1. • So far, only one international player – Lemonade – has entered the German market, while German start-ups only rarely attempt to expand abroad

2.2. •“Blitzscaling” – extreme but subsidized growth – models have yet to prove whether they can become sustainable success stories

2.3. • Insurers need to reinvent their sales models, and InsurTechs will provide support

2.4. • Neocarriers are enjoying success, not least by offering innovative digital solutions

2.5. • The market success of the “Financial Partner” model is becoming more and more evident – for real, this time

2.6. • Underwriting start-ups will come

2.7. • Start-ups in the area of corporate insurance remain the exception

2.8. The next two or three years could give rise to the very first German InsurTech unicorn

3. CHINA PIONEERING

3.1. CUSTOMER-CENTRICITY

3.1.1. Quicker and simpler payments

3.2. ECOSYSTEM AROUND THE PLATFORM

3.2.1. offer customers a one-stop shop

3.2.2. China has developed a model of payments + social + mobile + data. An example is Tencent with its combination of payment, social media and contextual messaging in a single app (WeChat) This platform generates 38 billion messages every day, producing a rich source of data to feedback into insurers’ analytics engines.

4. Degree of Customer Interaction, source Ravi Kurani, early Bird VC

5. Customers are expected to be increasingly segmented upon their behavior,

6. RESOURCES

6.1. VC EARLYBIRD

6.2. insurtech landscape 2017

6.3. Drive with reports https://drive.google.com/drive/folders/1NzEnMCrJgFzQ2xdslsS2dzfYONRFAx9Q

7. Germany as a Hub for insurtech

7.1. 2019: less than 5 Insurtech companies have been founded

7.2. Current Brands

7.2.1. In the German market, we currently count 20 of these scale-ups: ACTINEO, Adam Riese, 📌CLARK, 📌Coya, Deutsche Familienversicherung, ELEMENT, Finanzchef24, FINLEX, Friendsurance, FRIDAY, Getsafe, Gewerbeversicherung24/ Thinksurance,Lemonade, Neodigital, nexible, ONE, simplesurance, sum.cumo, wefox, and xbAV.

8. Data Harvesting