Twelve Bavarian insurance companies have founded the InsurTech Hub Munich eV in a joint initiative. The goal is to actively shape the digital transformation together and make Munich an attractive location for international InsurTech startups.
The InsurTech Hub Munich will develop a physical infrastructure with an incubator, coworking and event spaces, as well as a shared digital platform for virtual exchange. The InsurTech Hub will be managed by a five-member board, which will initially include one representative each from Allianz, Generali Deutschland, Munich Re, Nürnberger Versicherung, and Versicherungskammer Bayern. The other founding members are ADAC-Schutzbrief Versicherungs-AG, ARAG, Die Bayerische, HUK-Coburg, LV 1871, Münchener Verein Versicherungsgruppe, and WWK Lebensversicherung aG. The Bavarian State Ministry for Economic Affairs and Media, Energy and Technology, Wayra, Treefin and that WERK1 support the initiative.
InsurTech Hub as a “thought-leadership institution”
Tom Van den Brulle of Munich Re is the first Chairman of the Board of Management and says:
"We are very pleased about this joint initiative. We see ourselves as an integrative thought-leader institution for the industry in Bavaria, which may also contradict established views of the insurance industry and the industry."
Bavaria's Minister of Economic Affairs Ilse Aigner added:
"Bavaria is one of the world's leading insurance centers. By establishing the InsurTech Hub, we are bringing together established insurance companies and innovative startups. We want to leverage this creative connection to further expand Bavaria's leadership in the digitalization of the insurance industry."
In May 2017, the Federal Ministry of Economics in Munich In addition to the topic of “Mobility”, it has also been declared a Digital Hub for “InsurTech”By founding the association, the Munich insurance industry aims to actively promote the Digital Hub.
