INSURTECH
HACKATHON

 

29 SEP – 1 OCT 2017
COPENHAGEN

Hack the Insurance
Industry in 48 hours!

End September 2017, Copenhagen Fintech are putting on a hackathon to develop and showcase new tech solutions within the insurance industry.

Join 100+ participants with diverse skillsets (software developers, business minds, designers and insurance agents) as well as 30+ mentors (entrepreneurs, executives, industry professionals, investors and consultants) for 48 hours of ideation, prototyping, rapid market validation and business modeling. But most of all lots of fun and learning.

The winning teams will be admitted to the Copenhagen FinTech Pre-Accelerator program starting in November 2017.

Both the Hackathon and Pre-Accelerator program are powered by Rainmaking Innovation and will be hosted at Rainmaking Loft, Copenhagen.

Prizes

 

First Prize – DKK 25.000

Top three teams are admitted to
Copenhagen FinTech Labs’s pre-accelerator program

(More about Pre-Accelerator Program below)

Three teams will get offered free seats at Copenhagen FinTech Lab

Special Prizes from Købstædernes Forsikring og TIA Technology

All participants will get an opportunity present their ideas to industry players with the hope of launching real world pilots.

The jury will pick all the winning teams

Pre-Accelerator

In November 2017, CPH FinTech Lab will, together with Rainmaking, launch a pre-accelerator program for six FinTech startups.
The three most promising ideas from this hackathon, as well as the next hackathon, will be selected for this.

This pre-accelerator has been designed to support the six teams beyond the hackathon, and improve their probability of further success.
The program will consist of workshops, masterclasses, mentoring and P2P learning.
The program will take place at Rainmaking Loft in Copenhagen, and is run by Rainmaking Innovation.

The most promising startups from the pre-accelerator will be fast-tracked into the selection days of the Startupbootcamp FinTech or InsurTech London accelerator programs.

More about Pre-Accelerator Program

The 3-month Pre-Accelerator program is designed to make 6 newly formed startups from the two Copenhagen FinTech Lab Hackathons ready for product launch, funding or acceleration.
The program will be run at Rainmaking Loft Copenhagen, world’s best co-working space in 2016, according to Global Startup Awards.

The program consists of:

4 full-day workshops with leading speakers and coaches, covering the following themes:

1. Lean Startup Methodology & Business Model Canvas
2. Product-Market Fit and Minimum Viable Product
3. Growth Marketing & Growth Machine
4. Pitching, Fundraising and Legal aspects

Master Classes

Peer-to-peer Learning with practical exercises

1:1 Sessions with mentors

Topics and challenges

The world of banking and finance has for a long time withstood significant disruption. This has finally come to an end. First breaking off into a single industry, FinTech (Financial Technology), and subsequently into even more specific branches. Over the last two years we’ve seen the emergence and maturing of InsurTech (Insurance Technology), with an ever growing number and scope of startups. What is most striking is the movement from startups trying to disrupt the industry incumbents, to an ever close collaboration between the two. From ’16 to ’17, we’ve seen almost a doubling in partnerships between Insurers and related startups. This can in large part be explained by the opportunity startups offer incumbents of leveraging the latest technologies, fresh ideas and experimental business models.

Challenge 1: On-demand Insurance

Intro: Globalisation is making the world more connected, which subsequently affect our choices and lifestyles. We travel more, live more spontaneous lives and engage in ever evolving activities and constellations. We live more unpredictable lives, and we expose ourselves to ever increasing risks.

Problem: This change in human behaviour patters puts a significant strain on our ability to protect and insure ourselves.

  • If we, and everyone around us, do not know what the immediate future holds, then how could we be able to plan ahead in terms of risk mitigation?
  • How could we tap into smart devices to offer relevant products and services when and where we need them, with only a touch of a button?
  • Could we imagine customers designing and purchasing their own insurance products using chatbots, sensory data and other AI integrations?
Resources: TIA Technology will provide a sandbox environment with fully functional API and dummy data to provide a back-bone for new or improved on-boarding interfaces.

Challenge 2: Reduce On-boarding Time

Intro: The average human attention span has decreased from 12 seconds in 2000 to 8 seconds in 2015. The internet, and human-designed spaces in general, have steadily been developed to capture the short-term attention of all exposed.

Problem: For an insurance company to assess the risk profile of new customers, they need an extensive set of data points. This takes time, attention and effort. Most people shy away from engaging with insurance matters.

  • Given this, could we provide a swift and effortless environment to capture sufficient data to make a risk assessment?
  • Could we design a risk assessment that provide the customer with relevant and attractive product options to complete the sales based on fewer parameters?

Resources: TIA Technology will provide a sandbox environment with fully functional API and dummy data to provide a back-bone for new or improved on-boarding interfaces.

Challenge 3: Automatisation

Intro: Almost daily, we see signs of the advent of artificial intelligence. With more data being processes by the hour, the algorithms  are in full swing to train itself to precision and speed. We are standing on the cusp of quantum computing, which could potentially revolutionise how we perceive data retrieval and -processing. It could surely help us optimise the way we work.

Problem: There are many aspects and workflows in the insurance industry that are time-consuming and fairly mechanic, such as risk assessment, claim registration, evaluation and disbursement. With many repetitive tasks and similar data, there should be great opportunity to deploy Artificial Intelligence to automise some of these processes.

  • How might we leverage big data from external data sources to assess risk more automatically?
  • Could we develop a system that process sign-ups and claims which automatically improve it’s accuracy?
  • How about deploying a speech recognition software that on-boards new costumers through a human-like conversation?

Resources: TIA Technology will provide a sandbox environment with fully functional API and dummy data to provide a back-bone for new or improved on-boarding interfaces.

Your idea?

The industry is seeking some fresh eyes perspective on the old problems — that means you may own the next big idea.

As such, you will be encouraged to shoot from the hip and share your thinking.

Program

Most of the weekend is dedicated to your ideation and ‘hacking’ prototypes.
Top mentors will join to provide support and inspiration.

pitch-calendar
Kick off
  5.30pm—6pm

We touch base on our shared mission for the next two days. We will focus on unleashing industry-changing ideas coming. Fresh approaches to conceptualization are welcome.

pitch-calendar-1
Pitching
  6pm—7pm

Every participant gets to present an idea (or more) in 60 seconds. This is where your creative juices are needed. No idea is out of bounds or too ambitious.

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Team formation
  7pm—8pm

Participants pick the best ideas and form teams around those.

day1-calendar-1
Hackathon Day 1
  8am

Breakfast 8am – 9am then everyone gets to work. Lunch, dinner and energy breaks will also be provided. The occasional tribal dance or group stretch may erupt during the day.

mentors
Mentors
  10am—6pm

Mentors will stop by throughout the day to provide support, guidance and inspiration. Use them as you see fit, they are a mix of entrepreneurs and experts from the insurance industry

day2
Hackathon Day 2
  8am

Breakfast 8am – 9am then everyone gets to work. Lunch, dinner and energy breaks will also be provided. Time will be set aside for pitch training, tech check and practice (on a voluntary basis).

demo
Demos
  4.30pm

Teams will make their final demos and presentations to the Jury.

winner
Prize ceremony
  5.30pm

The jury will decide on the overall winners which will go on to start in Copenhagen FinTech pre-accelerator in November 2017.

Partners, mentors & jury

Industry experts & serial entrepreneurs volunteer to help you.

Mentors

Jakob Holst

Jakob Holst

Director, DTU Business
Jakob Vang Glud

Jakob Vang Glud

CEO, goBundl
Sune Mikkelsen

Sune Mikkelsen

CFO, Købstædernes Forsikring
Anja Thrane

Anja Thrane

Chief Advisor & Partner, Advice A/S
Søren Brinkmann

Søren Brinkmann

Partner & Attorney-at-law, Brinkmann Kronborg Henriksen
Morten Schultz Fruergaard

Morten Schultz Fruergaard

Director Operations and Digital, Købstædernes Forsikring
Susanne Møllegaard

Susanne Møllegaard

CEO & Owner, Process Factory
Maz Spork

Maz Spork

Idea Executer, ISS Corporate Garage

Maz is a corporate innovation geek with a big heart and a reputation for seeing problems and solutions from different angles.

Anja Elkær

Anja Elkær

Master Expert; Group Digital, Nordea
Torben Moos

Torben Moos

Sales Director, Købstædernes Forsikring
Morten Jepsen

Morten Jepsen

Underwriting Director, Købstædernes Forsikring
Mads Munck Petersson

Mads Munck Petersson

Digital Platform Manager, Købstædernes Forsikring
Kim Østergaard

Kim Østergaard

Head of Innovation, Spar Nord
Simon Schou

Simon Schou

CIO, Copenhagen Fintech
Michael Herold Eschenburg

Michael Herold Eschenburg

Digital Transformation Manager, Købstædernes Forsikring
Jacob Høeg Madsen

Jacob Høeg Madsen

Partner, Kromann Reumert
Jakob Kistorp

Jakob Kistorp

Partner, Rainmaking Innovation
Alex Farcet

Alex Farcet

Partner, Rainmaking Innovation

Co-founder of Startupbootcamp, among other things

Daniel Espeland

Daniel Espeland

Hackathon Lead, Rainmaking Innovation
More to be announced

More to be announced

More to be announced

Jury

Anders Hestbech

Anders Hestbech

CEO, Købstædernes Forsikring
Christian Kromann

Christian Kromann

CEO, TIA Technology
Thomas Krogh Jensen

Thomas Krogh Jensen

CEO, Copenhagen FinTech
More to be announced

More to be announced

More to be announced

Partners

Sponsors

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When and where

 

Time:
5.30pm, September 29th – October 1st, 2017

Location
Rainmaking Loft, Danneskiold-Samsøes Allé 41, 1434 København K

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