On 25 and 26 November 2017, the second two-day Innovation Marathon Crowdhackathon#insurance 2.0 (http://crowdhackathon.com/insurance) will take place at INNOVATHENS – Hub of Innovation and Entrepreneurship of Technopolis in the City of Athens in Gazi. The event will focus on the creation of innovative applications (Minimum Viable Products – MVP) in the wider insurance sector (#insurtech).
Crowdhackathon#Insurance 2.0 is organized by Crowdpolicy technology and innovation company and Ethos Media, with the support of insuranceworld.gr, within the framework of the open innovation event Crowdhackathon.com.
The Objectives of Crowdhackathon#insurance 2.0
- Create preconditions of youth entrepreneurship: through competition, new groups or startup companies are born, which in the future contribute effectively to Greek economy
- Utilize knowledge and expertise of programmers, new businesses, groups and executives, in order to create innovative applications
- Design and promote novel applications and business models in the following domains:
- Applications aiming to assist innovative entrepreneurship in the insurance sector – promotion of entrepreneurship and startups in the sector of #insurtech (e.g.: aggregators, p2p & on demand insurance, marketplaces)
- Innovation through the creation of new products and services – Insurance innovation through the use of emerging technologies and trends (e.g.: blockchain, crowdsourcing, chatbots, p2p insurance, Internet of things, big data analysis tools, API economy, robo advisors, open hardware etc.)
- Applications, procedures and partnership models which boost enterprises’ services and infrastructure (#insurtech & digital transformation)
- Applications promoting Social Innnovation and Social Solidarity.
In addition, the event aims to:
- Help participants acquire skills that will enable them to correctly design and convert a real-problem-solving idea to an application under circumstances of time-pressure and with the guidance of mentors with significant market experience
- Encourage young developers and entrepreneurs to network with experienced company executives and professionals of the insurance sector and cultivate conditions for dynamic synergies.
Indicative list of innovative applications
- Creation of new insurance products and services
- Loyalty schemes and motivation mechanisms for the insured
- Flexible insurance policies/ micro insurance/ demand aggregator platforms
- Tools for insurance companies
- Tools for consumers (e.g.: instructions on how to report a claim, calculate insurance premiums, evaluate services etc.)
- Tools and methods for data analysis and visualization for support of risk management etc.
- Utilization of crowdsourcing mechanisms and methodologies in the insurance sector.
- Loyalty schemes
Crowdhackathon#insurance 2.0 is mainly addressed to young entrepreneurs, programmers, analysts, designers, professionals involved in the sectors of communication, marketing, customer services, business consulting, as well as executives from the wider insurance and financial sector, university and highschool students and any other person interested in taking part and actively contributing to the development of applications that promote innovative youth and social entrepreneurship and financial activities through the – crucial for a country’s economy – insurance sector.
Crowdhackathon#insurance 2.0 participants may have one of the following roles:
Members of programmers groups involved in apps implementation, such as programmers, analysts, designers, consultants etc. Participation in groups of 2-5 people (desired). The best applications will be awarded by a special committee, which will base its decisions on criteria such as technological and business innovation, the possibility of immediate implementation, completion of the app within the duration of the hackathon etc.
Representatives of companies or stakeholders from the insurance sector, who will mentor and support competitors by highlighting propositions, needs and ideas to be taken into consideration during the marathon.
Volunteers who will offer assistance during the event.
- Visitors: these may be executives who work in private companies, public bodies or Non-Governmental Organizations. They will not take part in the competition but will observe the implementation procedures, presentations and the various parallel events.
- Data owners: these may be organizations of the public or private sector, which will offer data for utilization.
Participation is FREE; there is a limited number of slots per role; participation is on a first come-first served basis. Registrations will open in the beginning of September.
September 2017: opening of the electronic platform Open insurance dialogue for listing of needs, collaboration in setting the appropriate standards and promotion of good practices and ideas which may inspire the participating teams.
- 1 November 2017: final publication of requirements and standards for participants’ preparation
- 21 November 2017: informative workshop “Open Insurance Day”, where participants will meet with domain experts and companies, while new trends will be presented at the #insurtech
- 25 – 26 November: Marathon
Prizes and Partnerships
The best pilot applications and services presented during the event will receive cash prizes and will be further developed with the support of the organizers and the participating companies.
In the Crowdhackathon#insurance 2.0, the teams that will come in first, second and third place will receive cash prizes of 2,000 €, 1,500 € and 1,000 € respectively.