28 Nov Insurers are left behind in the insurtech digital innovation race: distribution and affilate partners are ahead of game
London, September 6, 2017 – Neosurance, the AI and machine learning based agent, has won the inaugural Munich Re Digital Partners Award as the Best Insurance Game-changer'. The award was received at an event in London which gathered one hundred and fifty participants from the VC and business angels communities as well as numerous players from the insurtech ecosystem.
Neosurance won the vote by the event participants for its disruptive distribution model based on the principles that insurance is not bought by but sold to the customer, through the creation of smart emotional engagements at the point of need, directly on their smartphones. Advanced technology in a unique combination with behavioural sciences merge together to create a distinctive customer journey in which insurance becomes instant, contextual and convenient. A big step ahead to bring protection closer to people when and where it matters most".
Mark Dennis, COO of Munich Re Digital Partners, commented:
“Digital disruption is changing the insurance industry. We established Digital Partners as an enabler to work with insurtech start-ups and digital verticals who are aiming to change the insurance world, developing better products and providing better customer experiences. The Best Insurance Game-changer award aims to recognise those making a difference in our industry.”
Neosurance is an innovative insurtech start-up offering AI and machine learning solutions for insurance companies to enable the sale of instant micro policies through push notifications on the smartphones. The company was founded at the beginning of 2016 by Andrea Silvello – co-founder of Digital Tech International with over 15 years of experience in strategic business consulting, and Dario Melpignano – co-founder of Neosperience, the leading digital customer experience platform. In the first part of the year Neosurance was selected by Plug&Play Tech Center to take part in their insurtech accelerator in Silicon Valley where it had the chance to expand its network of partners on American soil. In July 2017 the start-up, led by its CEO Pietro Menghi, a veteran of the insurance and reinsurance industry, has launched its first product to offer instant travel protection, having just finalized a seed round of 700,000 Euro, which brings the total equity raised close to one million. The core value proposition for clients is building a digital customer experience journey on the basis of contextual, behavioural and emotional data through a “learning by doing” approach, with numerous use cases spanning from travel, sports and mobility to the shared economy, closing the protection gap while making insurance and assistance relevant, easy and convenient.
About Munich Re
Established in 2016, Digital Partners is a global business unit of Munich Re designed to partner with disruptors who are changing the way insurance is experienced by customers. In 2016 Munich Re (Group) – which combines primary insurance and reinsurance under one roof - achieved a profit of €2.6bn on premium income of over €48bn. With premium income of around €28bn from reinsurance alone, it is one of the world's leading reinsurers.