KASKO

In this episode of the Reinventing Finance Podcast, I had the pleasure of talking with a repeat guest, Frederik Wulff, the CEO of Markel Insurance SE (European carrier within the Markel Group) and who is in charge of the European business of Markel about the topic of "InsurTech M&A", a topic Markel is quite familiar with. In the conversation, we discuss together recent and seasoned cases of M&A in the insurance industry and share thoughts and perspectives on the different industry cases and topics: 📍Challenges at Iptiq around scaling (Acquired by Swissre) 📍Wefox's struggles, repeated pivots and failure to meet expectations. 📍The strategic merger of Gothaer and Barmenia, focusing on their complementary strengths and the benefits of strategic alignments and market positioning. 📍Ongoing trend and future expectations for broker consolidations 📍MRH Trowe is an example of successful consolidation in the German market 📍How regional market dynamics and international market dynamics can affect strategic decisions in the M&A space 📍M&A Culture & Strategy at Markel and some examples Listen to the episode now! 🎧 https://lnkd.in/gAfubtJg 📽 https://lnkd.in/ggY5jsHK To find some actionable M&A recommendations from the episode, check out the comment section below! #FinTech #InsurTech #insurance #finance #growth #investment #business #M&A #strategy

Join Oliver Lang and me as we discuss #productivity for #agents and #brokers on our latest episode of the Insurance Couch Podcast! Here are some of the key insights from this podcast episode: 📍 Tied agents have undergone a massive productivity improvement of about 40% over the last 10 years. 📍This is even more impressive as brokers haven’t realised any productivity improvements. 📍Three measures have led to this productivity revolution: reorganisation/specialisation, standardisation, and more insurer support. 📍Despite the ongoing consolidation, brokers are yet to realise productivity improvement measures. 📍Despite billions of investments into new core systems, insurers haven’t realised any productivity improvements in their non-sales functions – that’s a real drama. Check out the episode here: 🎧 https://lnkd.in/gt_BCeNC #insurance #insuranceindustry #versicherung #versicherungsbranche #productivity #podcast #agents #brokers Tim Quayle Herbert Orasche Sjaak Schouteren, CISM, CIPP-E Jan Pohl Edward Short Christoph U. Lüer Mathias Grompe Niclas von Bernstorff Helmut Blach Andreas Büttner Giorgio Oliveri 👋 Ronald Engel Justin Emrich

As the CEO of an #insurtech company, I am constantly evaluating how we can leverage technology to drive meaningful change in the #insuranceindustry. Capgemini's "World Property and Casualty Insurance Report 2024" sheds light on a pressing issue: 92% of insurers are struggling to bridge the gap to #underwriting excellence! 🔍 Key Findings: - Predictive Analytics: While 83% of executives recognise the importance of predictive models, only 27% have implemented them - Data Integration: 70% of trailblazers effectively integrate third-party data, compared to just 12% of typical insurers - Optimised Workbenches: 65% of leading insurers have mature underwriter workbenches, versus 19% of others - Sales Enablement: 78% of top performers use underwriters as sales enablers, compared to 36% of mainstream insurers 📊 Challenges and Solutions: - Data Mastery: The report highlights a critical lack of data mastery, with 73% of insurers facing pricing precision issues and 70% struggling with inconsistent underwriting decisions - Technology Trust: Only 43% of underwriters trust their automation tools, a gap that needs bridging for effective transformation 🛠️ Actionable Insights: 1) Connect the Data Dots: Investing in data lakes and AI-driven projects is essential, but success hinges on overcoming #data silos and legacy system limitations 2) Unlock Insights: Modern core systems and predictive #analytics are pivotal for extracting actionable insights that align with business goals 3) Evolve the Underwriting Role: Reduce administrative tasks to free up underwriters for growth-focused activities, thereby enhancing productivity and customer experience 🌟 Real-World Examples: - Allianz & Cytora: Collaborating to drive AI-powered risk processing - Zurich Insurance & Quantee: Blending traditional and AI-driven pricing techniques - Esure: Re-platforming with MACH-architected systems for superior performance 🔗 Collaborative Transformation: Success requires the right partner who doesn’t just want to offer the next consulting project or shoehorn their existing technology onto your problem. Instead, you need a partner who sits in your corner, combines your insight and knowledge with their external network and experience and suggests solutions (be that buying or building technologies, connecting with the right knowledge owners or a combination thereof)systems. By focusing on connecting data, unlocking insights, and evolving the underwriting role, insurers can transition from being mainstream to trailblazers. This isn't just about adopting new technologies; it's about reshaping the entire underwriting process to drive better business outcomes. For that reason, it might make sense to ask for some shortcuts and insights into what has worked and hasn’t so far. Let's transform underwriting together and lead the industry towards a future of #insuranceinnovation and excellence. Get in touch if you want to discuss this in more detail! ⬇ Report linked in the comments

Liebe Community, Das InsurLab Germany sucht einen (Senior) Program Manager (m/w/d). Kennt ihr jemanden der ideal zu der Rolle passt? --- Dear Community, Insurlab Germany is looking for a (Senior) Program Manager (m/f/x) Do you know someone who would be perfectly suited to fill the role? 👉 https://lnkd.in/ebxYdc8h

Get Your Insurance Fix on "The Insurance Couch" Podcast! Join Oliver Lang and me for our latest recording of the Insurance Couch #Podcast. In this episode, we discuss the #hybrid #agency business and why it is so successful! Here are some of the key insights from this podcast episode: 📍Hybrid insurance agencies complement traditional agency formats 📍Hybrid agencies can win new customer groups and cross-sell to existing customers 📍Every insurer, broker, bank, or other organization that wants to sell insurance to its customers should establish a hybrid agency 📍There are a couple of skills required that a typical insurer doesn’t have (esp. cost-effective lead generation, nurturing and outbound telesales) – but other people do 📍Starting a pilot hybrid agency is not expensive and does not require a lot of management attention (if you work with the right experts) Shameless Plug: 🔐 We offer turn-key hybrid agency formats as a build-operate-transfer model and would love to have a chat if you are interested! #insurance #insuranceindustry #versicherungsbranche #versicherung #versicherer #distribution The link to the episode can be found in the comment section 🎧

2024 has been the year of #AI – Many have talked about it, tested it and hyped it. But what are the risks associated with deploying AI across your organisation and using AI or skipping it? Simon Torrance is the Founder of AI Risk, a startup focusing on reducing the risks of AI #innovation and adoption and helping leaders understand the risks associated with developing and deploying AI around their organisation(s) and connecting them to the best solutions. In this podcast episode of the Reinventing Finance Podcast, Simon, a well-known Thought Leader on Embedded Insurance, discusses his career path as a long-term advisor on Business Model Innovation with me and how he found his startup AI Risk right at the beginning of the global hype around new AI technologies. The discussion centres around four categories of AI risk to consider when focusing perspective on #insurance companies: 1) Strategic Risk (= How to not become outcompeted by insurance companies (or other companies as they use tech more efficiently)) 2) Financial Risk (= How is the opportunity cost / POC) 3) Operational Risk (= How to protect from and cover cyber threats, reputational risks, talent risks and other risks associated with daily operations) 4) Compliance Risk (= How to make sure you adhere to compliance standards and ethics) On top of a deep dive into the risks side, Simon also shares insights, use cases, and future perspectives on AI for the #insuranceindustry. Check out the episode to find out more! 🎬 https://lnkd.in/eDDUUTfU 🎧 https://lnkd.in/eCqVFqZP #Insurance #Finance #Versicherung #InsurTech #Startup #AIrisk #artificialintelligence KASKO

I recently came across an article by Versicherungsmonitor about the ongoing "commission cap" discussion and thought it might be worth sharing some thoughts about that. 👉 The transition to a commission model favouring ongoing payments over large initial commissions presents both challenges and opportunities for brokers. 💢 While there may be short-term financial adjustments and the need for significant changes in business practices, the long-term benefits include more stable income, improved client relationships, and a better professional reputation. 💡 The shift to recurring commissions can significantly enhance the business's value, making it more attractive to investors and potential buyers. However, online-active brokers may face challenges in covering marketing lead costs, and insurers must consider the implications for different distribution models and long-term profitability. 👍 By adapting to these changes, brokers and insurers can position themselves for sustained success and contribute to a more ethical and client-focused insurance industry. Link to the article: https://lnkd.in/eEg7B--s 💭 What are your thoughts on the matter? Fynn Monshausen, Oliver Lang Christian Koery Stefan Musat Marco Schmidt- Spaniol Daniel Loskamp Dr. Steffen Krotsch Martin Klecha Jan Günther Jürgen Matzerath Sam Peter Daniel In der Wische André Meissner Uwe Stuhldreier

For a long time, #privatemarket transactions were an investment #opportunity only accessible to the super-rich, as high ticket sizes and legal costs created significant barriers to entry. Making Private Markets more accessible - that’s the self-chosen assignment of  Alexander Grimm, Co-Founder and Managing Director of FinTech AQUATY,  a digital platform that makes venture capital and private market investments more efficient, easy and liquid by reducing constraints around regulatory framework, process and automation associated with such investments. For those who don’t know Alexander yet, it might be worth mentioning that he has served eight years as Chief Operating Officer at the well-known InsurTech Getsafe and even has been a board member, before taking a break for the family and exploring other opportunities before finding his FinTech Aquaty with Robert Jeggle (geb. Menzel) & Sebastian Otutuama. Listen to Alexander on the latest episode of the Reinventing Finance Podcast ⁠to learn more about: 📍 His background and what it was like being Chief Operating Officer at Getsafe and some work milestones 📍 Counterintuitive advice as an entrepreneur in FinTech 📍 How private markets work and how AQUATY offers a solution to its clients’ needs 📍 How do the constraints of investing in private markets look like and who mostly invests in this asset group 📍 Why it is relevant and interesting for private investors to partner up with AQUATY 📍 An exemplary customer story to showcase the use of the platform and the USP to its clients 📍 Go-to-market strategy and business model of AQUATY 📍 Why it is relevant and interesting for investors and what expenses are cut 📍 Current state of the Fintech and outlook for the future 🎧 https://lnkd.in/eiMDrZBc 🎥 https://lnkd.in/emZ2Cm5Q #FinTech #Finance #growth #investing #investment #VC #PE

My birthday was some weeks ago, but I just stumbled again over this birthday card I received back then, and thought it's worth a shoutout for excellent #CRM by #german public #healthinsurer BARMER! In today's digital age, receiving a handwritten (or at least hand-written-like) card truly stands out. It’s the personal touch that makes all the difference, where an email would likely have been overlooked. This card brought a smile to my face and a positive emotion to my day. It’s these little gestures that strengthen customer relationships and build brand loyalty. On this note, a reminder of why great CRM is important: 1) Strengthening emotional connection: Personalized gestures demonstrate to customers that they are valued as unique individuals, rather than merely transactions. This can create a deeper sense of trust and loyalty, as customers feel appreciated, leading to increased customer retention and advocacy. 2) Enhancing customer experience: Creating memorable and positive experiences through micro-moments differentiates your brand from competitors and helps build long-lasting relationships. 3) Driving engagement and sales: Great CRM can also always be an option for targeted offers and personal touches can boost engagement and drive sales (e.g. if directly linked to a discount, etc.) or in the long run. Some best practices for effective CRM: 📍 Personalization: Tailor your communications and offers to meet the individual needs and preferences of your customers. This might look different for different customers. 📍Consistency: Ensure that every touchpoint with your customer is consistent, reflects your brand values and is received positively by the customer. 📍Feedback integration: Regularly seek and integrate customer feedback to continuously improve your CRM strategies and find the right balance and mix between communication channels (digital vs. offline) and desired communication frequency. BARMER, your initiative is a great example of how businesses can create meaningful connections. Keep up the great work! #customerexperience #customerloyalty #customerengagement #healthinsurance #CRM #bestpractices

Dear Germany-based network, I want to share this job advert by ARK Venture Studios to find the best EIR in our community. If you don’t know ARK already, they are working with and investing in several promising high-impact, high-commerciality ventures from the Insurance and InsurTech space that address systemic risks - and that’s something I personally find worth promoting and supporting 👍 Dan White is looking for an Entrepreneur in Residence/Co-Founder for Migrasure, a startup with the vision to change the way refugees and migrants access support to help them integrate into their local communities and provide solutions to enable access to the housing market. Migrasure is a joint venture between ARK Venture Studio and Generali, a leading global insurance group. Migrasure also benefits from a close collaboration with Generali’s foundation, The Human Safety Net, who invest deeply in the refugee ecosystem. So if this sounds like you are the right fit or you know somebody who might be - feel free to share, like, comment, and reach out to Stephen Cartwright with your application. 👉 https://lnkd.in/e_nj2Ahn