- Talanx becomes a partner of leading innovation platform Plug and Play in Silicon Valley
- Talanx cooperates with leading accelerator Startupbootcamp in London
- Establishment of a dedicated Group Digital Lab
Hannover, 4 October 2016
The Talanx Group is consistently pursuing its innovation and digitalisation strategy, and cooperating with leading innovation platform Plug and Play in Silicon Valley, California, and start-up accelerator Startupbootcamp InsurTech in London. Both have programmes focused on the insurance market. Their so-called "ecosystems" allow them to access a global network of start-ups, insurers and other companies. This gives them a comprehensive approach in the start-up scene, in other words fledgling companies which develop innovations for insurance companies and financial service providers. The partnership with Plug and Play is set up for a period of three years. The InsurTech Programme of Startupbootcamp will come to an end in 2018. Talanx is establishing its own Digital Lab in parallel. The intention is to bundle and intensify all group-wide digitalisation activities.
Talanx' two new partners identify start-up companies throughout the world. They provide assistance and support in developing their business models through mentoring programmes. A large number of selection procedures involve the cooperating insurance companies in the decision-making process, and selected start-ups are then included in a shortlist for further cooperation with the Talanx Group. As well as working on joint projects, the participants communicate about potential joint ventures and investments.
The objective of the partnership is to identify innovative technologies and digital business ideas along the entire value chain in the insurance industry. The aim is then to align insurance business even more consistently with customers' needs. Examples of potential areas of value added for customers are making processes simpler or completely restructuring them, or developing new products.
"As an international Group, we are delighted to have the opportunity of working with two expert partners who have an outstanding reputation. These partnerships take us closer to the hotspots of international innovations. And we provide the fledgling companies with access to our sector know-how, expertise and experience as a strong, experienced partner. Both sides receive new ideas and impetus. This will be a fascinating interaction," commented Herbert K. Haas, Chairman of the Board of Management of Talanx AG.
"We are excited about our new partnership with Talanx as we strongly believe their international presence and operations as well as experience in different lines and segments of the insurance industry can bring a lot of value to our start-up ecosystem and innovation platform. Hopefully with Talanx being one of the founding partners of the program, we will be able to build an even better environment for startups with different growth stages to succeed and boost their growth," says Ali Safavi, Director of Plug and Play Insurance.
"We are elated to welcome Talanx and its multifaceted brands onto the Startupbootcamp InsurTech program. InsurTech startups want to work with leaders in the insurance sector to help them validate their propositions and find exciting projects to work on. We look forward to collaborating with another force in the German market and driving innovation through unique startup engagement", says Sabine VanderLinden, Managing Director of Startupbootcamp InsurTech.
Talanx establishes its own Digital Lab
The Talanx Group is establishing its own Digital Lab with the aim of driving forward digitalisation within the company. The function of the Digital Lab is to act as a partner for the divisions and drive forward digitalisation at the customer interface and in internal business operations. The brief is also to develop new digital business models. The divisions and IT will be joining forces in the Digital Lab to work out innovative approaches which can be tested by various methods including the initial prototypes. More focused communication between the divisions will facilitate faster development of customer-centric solutions and successful digital solutions.
"We will be able to continue expanding our innovation and digitalisation strategy with the two international joint ventures and our Digital Lab," said Haas. "They are a building block on the journey to the future."
About Talanx
With premium income of EUR 31.8 billion (2015) and about 22,000 employees, Talanx is one of the major European insurance groups. The Hannover-based Group is active in some 150 countries. Talanx operates as a multi-brand provider with a focus on B2B insurance. Under the HDI brand, which can look back on more than 100 years of tradition, Talanx operates both in Germany and abroad in industrial lines as well as retail business. Further Group brands include Hannover Re, one of the world's leading reinsurers, Targo Versicherungen, PB Versicherungen and Neue Leben, the latter all specialised in bancassurance, the Polish insurer Warta, and the financial services provider Ampega. The rating agency Standard & Poor's has given the Talanx Primary Group a financial strength rating of A+/stable (strong) and the Hannover Re Group one of AA-/ stable (very strong). Talanx AG is listed on the Frankfurt Stock Exchange in the MDAX as well as on the stock exchanges in Hannover and Warsaw (ISIN: DE000TLX1005, German Securities Code: TLX100, Polish Securities Code: TNX).
You can find additional information by going to www.talanx.com.
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About Plug and Play Tech Center
Plug and Play Tech Center is the world's largest global technology accelerator and venture fund. Since inception in 2006, our program has expanded worldwide to include entrepreneurs from 24 countries, providing necessary resources to succeed in Silicon Valley. With over 400 startups and 100 corporate partners, we have created the ultimate startup ecosystem. Plug and Play provides active investments with 180 leading Silicon Valley VCs, and more than 365 networking events per year. Companies in our community have raised over $3.5 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk. For more information, visit: http://www.plugandplaytechcenter.com
About Startupbootcamp InsurTech
Launched in 2015, Startupbootcamp InsurTech is a global accelerator based in London that focuses on disruptive and collaborative insurance innovation. Our intensive three-month program provides startups with mentorship, an extensive network of insurers, angel investors, and VCs, and other valuable resources to enable them to collaborate with an ecosystem of market experts and to design unique propositions that provide solutions for the insurance market. Our partners include Admiral, Allianz, ERGO / Munich Re, HDI, Innovation Group, Intesa Sanpaolo, Lloyds Banking Group, Liverpool Victoria, MMI Holdings, MJ Hudson, PwC, Route66 Ventures, Swiss Re, Talanx, Tryg, and UnipolSai. It is part of the global award-winning Startupbootcamp, a network of industry focused startup accelerators.
About Startupbootcamp
Founded in 2010, Startupbootcamp is a global accelerator network with 15 programs in Amsterdam, Barcelona, Berlin, Copenhagen, Eindhoven, Istanbul, London, Singapore, Miami and New York, and a mentor and alumni network in more than 30 countries. More than 300 startups have been accelerated by Startupbootcamp world-wide of which 80% are still active. For more information visit: www.startupbootcamp.org.
For media enquiries please contact:
Andreas Krosta Tel.: +49 511-3747-2020
E-mail: andreas.krosta@talanx.com
Christoph Boßmeyer Tel.: +49 511-3747-2094
E-Mail: Christoph.Bossmeyer@talanx.com
For Investor Relations please contact:
Carsten Werle, CFA Tel.: +49 511-3747-2231
E-mail: carsten.werle@talanx.com
Marcus Sander, CFA Tel.: +49 511-3747-2368
E-mail: marcus.sander@talanx.com
Disclaimer
This news release contains forward-looking statements which are based on certain assumptions, expectations and opinions of the Talanx AG management. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG's control, affect Talanx AG's business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialize, actual results, performance or achievements of Talanx AG may vary materially from those expressed or implied in the relevant forward-looking statement.
Talanx AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does Talanx AG accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
