KPMG in Cyprus, with the technological and operational support of the innovation company Crowd policy, the support of the insurance industry’s catalysts General Insurance of Cyprus, Anytime and Gan Direct, but also the support and sponsorship of Microsoft, UCLan, CYBAN, Economy Today and OINOTRIA, has successfully organised the second, innovative KPMG Crowd hackathon cy #insurtech. The three-day event took place at the premises of KPMG in Nicosia on the 18th, 19thand 20thof January 2019.
KPMG Crowd hackathon cy #insurtech 2 gave the opportunity to young entrepreneurs, developers, analysts, designers, communication, marketing and customer service specialists, business consultants, professionals, insurance and financial executives as well as students to act and network in the same place, collaborate, interact and actively contribute to the development of applications that introduced innovation and digital upgrading within the insurance industry. It is important to mention that KPMG Crowd hackathoncy #insurtech 2 forms the backbone of an integrated business and technology mentorship program, for the implementation of the results in practice and in the business environment of the participating companies.
Participating teams received guidance and support from both mentors and professionals of the insurance industry, as well as international executives. Following selection, seven ideas-solutions progressed drew positive comments, with strong potential of further funding and/or networking.The first three pilot applications created were awarded with monetary prizes of €3.000, €2.000 and €1.000 respectively, while the rest four teams won each a scholarship from UCLan University. All teams were invited to participate to the business and technological acceleration program that is intended to launch in the near future. It is important to note that the knowledge and experience of developers, new businesses, teams and executives to develop innovative applications has been exploited to the fullest.
Mr. Pangratios Vanezis, Board Member of KPMG in Cyprus and Head of KPMG’s Entrepreneurship & Startups in Cyprus, said: “Both technology-wise and business-wise, these seven ideas were truly of high quality, introducing innovation and digital upgrading in the insurance industry, contributing to the ever-increasing technological transformation of the insurance industry that intends to improve consumer experience with the insurance industry. Capitalising on this year’s but also last year’s success, we highlight and develop promising minimum valuable products, which in fact inaugurate the insurance industry’s transformation in Cyprus”.
For full, analytical results of KPMG Crowd hackathoncy #insurtech 2, click here.