As early as 2018, the promising starting signal for a very special Insurtech event at the Frankfurt Goethe University was given to me. At that time, about 180 participants met with 25 international startups and the host country Singapore for the Global Insurtech Roadshow. Last week at GIR19 there were significantly more visitors, insurers and media who wanted to follow the pitches and expert panels.
At the heart of the conference, which specializes in early stage Insurtechs, was the TechQuartier Insurtech Award pitch on the first day of the conference. 21 startups from nine countries focusing on health, data analysis, weather or cyber fought for the title. The award presented by EIOPA President Gabriel Bernardino finally went to the Israeli startup Air Doctor. Which convinced the jury with its concept for a worldwide network of doctors for travelers.
Amazing was once again the wide range of young founders who ventured onto the stage. Some had their first appearance in Frankfurt, others were again shortly before the first major A financing. Exactly this, says jury president Sebastian Langrehr (Friendsurance), makes the special character of this event with auditorium atmosphere.
Insurtechs with health focus
Thematically, the strong increase in health related insurtechs as well as weather startups, often based on parametric coverage structures, was astonishing. Conspicuous in addition to Air Doctor, for example, Serenus.AI (Automated second opinion before surgery or complex treatments) or Bodylabs from Germany (digital prevention models). New on the NatCat side were the weather heroes from Hamburg, Floodflash from London and also the Bulgarian startup Skyglyph, which specializes in data on drones after weather disasters. Cyber is and remains a more than current topic. In this case, the approaches of the Israeli startup Gefen Technologies are particularly interesting. Unfortunately, approaches in commercial or industrial composite business as well as in life insurance are still in short supply.
Israel as host country of the Global Insurtech Roadshow set special accents. Heavily influenced by the military past of many founders in the Israel Defense Forces. The technical models of the presenting Insurtechs displayed a high degree of technical maturity. The focal points of the Israeli Sillicon Valley around Tel Aviv are in particular cyber and artificial intelligence. Also the flexible and supportive regulatory environment from Chief Supervisor Moshe Bareket in Frankfurt vividly described. That helps the founders there very much.
The second day of the event was dedicated to technology. Five top class expert panels discussed cyber, blockchain, artificial intelligence, regulatory and digital strategies. Special highlights here are certainly the entertaining and controversial moderated blockchain panel by TempoCap founder Pierre Suhrcke from London.
Also published on Medium.