As a digital hub, Munich will also be working on the topic of 'InsurTech' in the future to advance the digitalization of the insurance industry. This was announced by the Federal Ministry for Economic Affairs and Energy (BMWi) at the end of last week. 'Mobility', for which the state capital was awarded the contract in spring, a second focus is thus set.
It is only natural that Munich, as a 'Digital Hub' location, was chosen for the topic of 'InsurTech' in addition to 'Mobility'. After all, Munich is one of the leading insurance centers worldwide and, with over 60,000 jobs in this sector, is strongly positioned. In addition to established companies, there are startups focusing on insurance topics, such as Finanzchef24 or Gini and an InsurTech Accelerator.
Digital Hub InsurTech for digital innovations in the insurance industry
Through the close cooperation of founders and established companies, which Digital Hub-The initiative focuses on driving forward digital innovations in the insurance industry. Bavaria's Minister of Economic Affairs, Ilse Aigner, commented:
"The BMWi's choice to locate the 'InsurTech' topic area at the Munich Digital Hub will give this development additional momentum. This makes Munich a global pioneer of digitalization in the insurance industry."
The application for the topic area was submitted by the WERK1.Bavaria GmbH. Partners in the application included renowned companies and institutions in the Bavarian insurance industry as well as Munich universities.