The Insurtech Hub Munich is entering into a strategic partnership with the auditing and consulting firm PricewaterhouseCoopers (PwC). The new partnership is intended to promote investments and further advance digital transformation in the insurance industry.
The Insurtech Hub Munich (ITHM), supported by the Federal Ministry for Economic Affairs and Energy, was able since its founding in 2017 already supports more than 35 startups. The hub was founded with the goal of connecting innovative insurtech startups, established insurance companies, and investors to advance the digital transformation of the industry.
This work will be supported by a new player in the future: as a partner of ITHM, PwC will support company founders and startup employees with questions about new technologies, as well as strategic, regulatory, actuarial, tax and legal issues.
Innovation ideas for startups
Dr. Jörg Richtsfeld, Board Member of ITHM and Director of Allianz X GmbH, says:
"We are delighted to have found the ideal partner in PwC to support us in expanding our network and provide the startups of the Insurtech Hub Munich with crucial business insights and innovation ideas."
Testing new business models
And Julia Unkel, Partner and Head of the Insurance Sector at PwC Germany, says:
"The insurance industry is facing profound change. The Insurtech Hub Munich offers us the opportunity to be involved early on in shaping industry innovations and testing new business models. As a partner of the hub, we want to actively shape and contribute to the digitalization of the insurance industry."
PwC also intends to use the insights gained from this engagement to develop new products and services for insurance companies in the future.
As part of the strategic partnership, the auditing and consulting firm will provide financial resources and serve as a technical contact for the ITHM program. PwC will also hold a seat on the advisory board.
