Platform unites insurers and insurtechs

Two chat bubbles

German reinsurance group Hannover Re has created an online platform that connects insurers to insurtechs, enabling them to pitch their solutions online.

The open, free-of-charge platform, hr|equarium, offers easy access to product and distribution innovations, and is aimed at allowing insurers to remain ahead of the curve and meet consumer needs.

But it is a two-way street, with insurtechs gaining access to established players and benefiting from their expert knowledge. “Open platforms are the best approach as both parties benefit in a transparent way,” stated Patrick Kosmuetzky, Senior Actuary at Hannover Re.

Hannover Re said that digital disruption, shifting demographics and evolving buyer preferences have created a challenging operating environment for insurers and the new platform should help bridge the gap between insurers and insurtechs.

Insurtech is a growing phenomenon that is reshaping the insurance industry and innovations that can facilitate communication between insurtechs and insurers are ever more important.