I N S U RT E C H – B I BA H A C K AT H O N
Luke Holloway reports on the innovative ‘Hackathon’ initiative held recently at this year’s BIBA Conference
his year, BIBA 2018 hosted a brand-new innovation challenge named the Hackathon, aimed at helping to demystify the rapidlygrowing world of insurtech and at solving real problems faced by today’s insurance brokers. The six-hour initiative was held live at the conference and involved specially selected teams of tech-savvy thinkers from cutting edge startups and innovative insurers. The teams were given problems to address and went about ﬁnding solutions using data, research, facts and ﬁgures, after which they were asked to present their ﬁndings to a panel of judges, where the winning idea would be shared with the audience of thousands. Andy Thornley, head of corporate affairs at BIBA, was instrumental in organising the Hackathon and explained that the challenges set all had a common theme; helping to improve the brokers’ bottom line. This ranged from developing an enhanced customer understanding, to removing ineﬃciencies in the day-to-day
businesses. “Our aim for the Hackathon was twofold,” said Mr Thornley. “We wanted to engage an incumbent insurance broking market to understand how new tools and technologies could make a real difference to their customers and their businesses.
“Secondly, we also wanted to demonstrate to the insurtech community that there is a huge market, one that places 93% of commercial premiums, that they can collaborate with. Being the largest insurance broking conference in the world, we had the ideal platform to be able to do this.”
thejournal.cii.co.uk / The Journal / June - July 2018
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