13 February 2019
DataArt to Co-Host HACKNEXT, Insurtech Hackathon on March 7-9, 2019, in Munich
New ideas for the insurance industry to be awarded 15.000 EUR
Munich, February 13, 2019 — HACKNEXT, the annual hackathon on digitalization in the insurance industry, will take place March 7-9, 2019, at the Kohlebunker in Munich, where seasoned professionals and insurance experts will meet at the three-day event to work on new and disruptive digital solutions.
This year's HACKNEXT will once again focus on the creative approaches to designing solutions. Within 28 hours, interdisciplinary teams of developers, programmers, designers and idea generators will develop new software solutions and business ideas, and compete for the prize of over 15,000 EUR. The jury will be comprised of five industry experts, including Alexander Makeyenkov, head of DataArt Switzerland. Participating teams will tackle four key challenges facing the insurance industry in the areas of Retirement Planning, Smart Data, Insurance Consultancy of the Future as well as ‘Bancassurance’.
HACKNEXT 2019 is organized by the global technology consultancy DataArt, the insurance analysts Franke and Bornberg, the creative agency Kaiser X Labs, and Zeb, the leading strategy and management consultancy for the financial services industry in Europe.
"The first HACKNEXT 2017 was a completely new format at the time. Various digital approaches, ideas and disruptive formats were openly discussed and tried out by established players and Insurtechs. We are glad to have found a suitable location for the second HACKNEXT at Kohlebunker in Munich," - said the organizers.
The HACKNEXT Hackathon and Its Challenges:
The participating teams will face four challenges of the insurance industry during the 28-hour hackathon:
Challenge 1: “Rethinking Retirement“
How much money do people need for a carefree retirement? How can young adults be encouraged to plan their retirement? The challenge: to develop concepts that help people to plan their financial future ahead, to maintain control over their retirement age and retire without monetary difficulties.
Challenge 2: “Fully Exploiting the Potential of Smart Data“
People produce new data daily. Based on that data, Insurers calculate potential risks. How can insurance companies and customers alike benefit from this enormous amount of data? How can insurance companies reduce the risks and prevent accidents instead of covering incurred damages? The challenge: to identify new potentials and to show how customers can make their lives safer and more convenient through smart insurance products or assistance services.
Challenge 3: “(R)evolution of the Insurance Agent“
The ancient Greeks knew: Panta rhei = Everything flows. What will insurance sales be in 2025? What will be the best way for brokers to connect with customers and offer additional help? What will a preferred consultation of the future look like?
How could technology optimize the entire consultation process, from accurate risk assessment to post-claim payment receipt? The challenge: to shape a future-proof interaction between insurance companies and agents.
Challence 4: “The Future of Digital ‘Bancassurance’“
Only one in 500 touchpoints between a bank and a customer is face-to-face. Hence, it is highly relevant to fully exploit the digital interactions between them. The challenge: how can PSD2, online, or mobile banking be used for better risk assessment or for optimizing a customer’s insurance portfolio? Hackers are asked to present a solution for a more customer-focused ‘bancassurance’ - to make this distribution channel fit for the future.
Participation in the Hackathon of HACKNEXT
Interested teams, insurance experts, InsurTech talents, programmers, design thinkers and students can register to participate in the Hackathon HACKNEXT on the website http://www.hacknext.de until March 1, 2019. The website also contains information on provided APIs, instructions on how to proceed, prizes and the rules for participation.
Exciting Supporting Program for Visitors
HACKNEXT offers non-hackers and insurance experts an exciting conference program on March 8 and 9. The audience will witness ideas being developed, attend pitches, take part in workshops of the established industry leaders and listen to exciting keynotes. Interested parties can purchase tickets at http://www.hacknext.de.
The intention of the forum, organized by DataArt, Franke and Bornberg, Kaiser X and zeb, is to establish an innovative hackathon format, promote customer-centered product development methods, and boost communication. The event thrives on the dynamic interaction between teams and the lively exchange between hackers and insurance executives.