This document provides background information and objectives for an expert survey on Insurtech that is being conducted as part of a master's thesis. The survey aims to reveal different characteristics of Insurtech in a holistic way and understand its role in the insurance ecosystem. It will examine business models, success factors, image, trends, market forces, macroeconomic forces and industry forces influencing Insurtech. The interviews will follow academic standards and provide anonymity while benefiting participants with a analysis of results and copy of the thesis. The survey seeks experts from Insurtech companies, insurers, incubators, investors and other relevant fields.
2. The expert survey is part of my master thesis on Insurtech at Friedrich-Alexander
Universität in Erlangen-Nürnberg.
2
Motivation und Objectives
Expert Survey Insurtech 2016
Objectives:
§ The expert survey shall reveal different
characteristics of Insurtech in a holistic
approach.
§ The goal is not only to analyse specific
business models, but also to understand
the role of insurtech in the insurance
ecosystem.
§ This includes the understanding of current
sector trends and their impact.
§ The survey‘s relevance results from the
different kinds of stakeholders, who
participate in the survey.
Motivation:
§ The master thesis‘s title is :
“An Analysis of the Status Quo und Perspectives
for the German Insurtech Sector“
§ The relevance of Insurtech as an own start-up field has
continously grown throughout the last years and months.
§ Yet the perspecives of Insurtech have not been discussed
from an academic point of view.
§ Insurtech is part of the digital transformation of the industry.
§ Experts evaluate the long-term success of Insurtech start-ups
very differently.
Source: Own Evaluation
3. The insurance industry faces numerous challenges from the digitale context.
New technologies lead to a digital transformation in economy and society.
3
Digital Insurance Sector Forces
Suppliers
§ Conversion of existing
direct sales channels
§ Start-ups development
throughout incubators and
accelerators
Substitutes
§ Damag- reducing technologies,
such as autonomous cars
New Entrants
§ Insurtech start-ups
§ International IT-giants
§ Comparison portals
Expert Survey Insurtech 2016
€
Buyers
§ High aspiration levels on
digital service quality
§ Development of new needs and
wishes from digital lifestyles
§ Moral hazard incenttives from
trust deficitis to corporate groups
§ Ropo-effect behaviour in sales
Rivalry
§ Little consolidation of incumbents
§ Market saturation in Germany
§ Growth of direct sales numbers
§ Regulation as from Solvency II
§ Low-interest environment
Source: Own Evaluation
4. 91
40
272
75
115
153
595
264
1092
646
1046
17
9
22
24
31
33
39
50
52
63
91
0
20
40
60
80
100
120
0
200
400
600
800
1000
Investitionsvolumen ($M) DealsSource: Oliver Wyman
Insurtech start-ups attack still analog niches and business ares with their digital
business models.
Expert Survey Insurtech 2016 4
Current Insurtech Development
Financing
of Insurtech start-ups
Q1 2011 – Q1 2016
on a global scale
Technology Insurtechs
Underwriting optimizers,
blockchain spezialists,
B2Insurance service providers
Sales Insurtechs
Contraktmanagers
with and without
broker licences,
aggregators
and other brokers
Product Insurtechs
Peer-to-Peer-,
eCommerce-
and situative
insurers
Categorization of Insurtech Start-Ups in Germany
n = 27
n = 15
n = 11Source: Own Evaluation
5. The expert survey shall reveal the status quo and perspectives of Insurtech in
Germany in a holistic approach.
Expert Survey Insurtech 2016 5
• Business Models
• Internal factors for
success
• Image
KEY
TRENDS
MARKET
FORCES
MAKRO-
ECONOMIC
FORCES
INDUSTRY
FORCES
Data SecuritySolvency II
Digitale
Transformation
Start-Up Hype
(auch Fintechs)
Incubators
Accelerators
Competitors
Incumbents
Market
Saturation
Venture Capital
Business Angels
Public Invest.
Incentives
Public
Funding
Customer
Wishes
Market
Segments
Source: Own Evaluation based on Osterwalder & Pigneur (2016)
Framework:
§ The survey‘s structur follows the Business
Model Environment Analysis framework
known from CANVAS.
§ Not solely the influence of sector
stakeholders on the insurtech start-ups,
but also all curent trends and forces are
research subject.
§ These include market forces, macro-
economic forces, industry forces and key
trends, who have an impact on insurtech.
§ The grafic on the left hand resembles the
dialogue‘s base.
Applied Framework
6. Evaluation
The interview partners‘ answer will be handled and
evaluated with discretion:
Benefit from Participation
Every interview partner will receive the following
upon interest:
• A visualized analysis of the surveys outcomes
• An issues of the master thesis
Participants
I‘m looking for interesting conversations with experts
with the followong industry backgrounds:
Expert Survey Insurtech 2016 6
Approach and Methodolgy
The interviews‘ conduction follows common academic standards.
The participants‘ answers will though be treated strictly confidental.
Timeframe
Interviews: November + Dezember 2016
Evaluation: January 2017
Publication: February 2017
• Comparison Portals
• Investors
• Other experts, such
as consultants, etc.
• Insurtech
• (Re-) Insurers
• Incubators and
accelerators
• Transcription of the interviews‘ main contents, which
will only be disclosed to the chair in the thesis‘ annex
• Anonymous evaluation of the study‘s outcomes in
general
7. The thesis is being
supervised by the chair of
insurance industry and
risk management by Prof.
Dr. Nadine Gatzert.
Lange Gasse 20
90403 Nürnberg
T: +49 (0)911 5302 884
Expert Survey Insurtech 2016 7
Alexander Voigt
Masters Candidate &
Digital Transformation Enthusiast
Mobile: +49 171 1782427
E-Mail: alexander.voigt@fau.de
LinkedIn: alxvoigt
„I‘m looking forward to interesting
dialogues and a mutual exchange
of ideas in the course of the
interviews!“
Master Thesis Background Contact Details
The survey is part of my
master thesis in FACT
(Finance, Accounting,
Controlling & Taxation).
