Insurtech sees no limits: the value of innovation beyond conventional boundaries

Business-standard patterns cannot apply to startup research and evaluation. The recent VivaTech2018 also confirms that the transformation is bringing toghether traditionally distant industries thanks to digital technologies

19 Jul 2018

Insurtech keeps growing, as confirmed by the increase in investors and investments, more and more as a facilitator for those seeking to explore new horizons of innovation. Visiting VivaTech2018 in Paris, an event always well structured and a great deal of inspiration also for its important and interesting players, it’s clear that a single minded perspective is not enough to find and evaluate startups.

The perspective should be overturned, from the outside in. Today, the insurers identify, understand and adopt solutions, technologies and models proposed by the startups tailoring them to their business, creating a winning model which joins innovation with the company’s experience, reliability and customer base. In my opinion, this is the key driving force behind the digital transformation process, which is now increasingly urgent. BNP Paribas Cardif deals with the Startup ecosystem and other industries with the same approach through a number of Open Innovation initiatives. Among them, Open-F@b is the international Call4Ideas that has now come at its fifth edition. Considerations and analyses on cross industry convergence have been going on for a long and the effects on markets are becoming clear: traditional boundaries among different industries are no longer present and digital technologies are enabling increasingly cross-cutting business models, sharing some key words such as big data analytics, customer centricity, internet of things, artificial intelligence.

In the Paris Expo pavilions I have therefore seen many interesting sustainable mobility solutions which can be realised in different industries, from railway services to telcos, from utilities to financial services. I have found a strong dissemination of e-gaming and e-sport approaches and a very interesting area on agrifood.

All in all, I have seen how leadership and innovation now go hand in hand, just as VivaTech’s payoff says “The world’s rendezvous for startups & leaders”. A payoff that couldn’t be more relevant than ever.

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