Karol Englert

Outlook for 2024 ESG Results: We support even more detailed reporting under the PCAF method, particularly about Scope 3 emissions- 3.15 Investments, which account for about 90% of total CO₂ emissions. In particular, the composition of the portfolio (which asset classes are affected) should be more clearly differentiated to make the climate footprint more traceable.

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📊 New Insights from the 2024 Ifo Special Survey on Insurance Companies Our latest study in collaboration with the ifo Institute reveals mixed trends in the insurance sector. While the current earnings outlook has worsened in many areas, particularly in property and casualty insurance, the long-term forecast is brighter. ➡️ Short-term Struggles: A third of insurers report unfavorable earnings, with rising costs impacting profitability. ➡️ Optimism for the Future: 53% expect earnings to improve over the next three years, signaling a recovery. Read the full report here https://lnkd.in/dr7QxijN Thilo Bertelsmann

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Charting the Future of InsurTech: Innovation with a Human Touch at Ergo 🚀 In the always changing world of #InsurTech, it's visionaries like Bessem Ayari, Head of Innovation Strategy and Scouting at ERGO Group AG, who are committed to impactful #innovation that resonates with every customer interaction. It's about understanding that at the heart of #digitaltransformation is the necessity for a human-centered approach. 💡 Each project and strategy is meticulously crafted to ensure it truly improves and simplifies life for colleagues and customers alike. At the end of the day, it's about shaping a #culture that thrives on forward-thinking and provides the tools to turn vision into reality. The launch of #ErgoScaleHub is a testament to what can be achieved with relentless focus and strategic groundwork. 📈 The fusion of strategy, culture, and impactful innovation like Ergo's will pave the way for new ways for our industry to drive strategy change via venturing here in Europe. Check out the new ScaleHub Program- https://scalehub.ergo.com/ ⬇️Stream the latest episode of #ScoutingForGrowth here⬇️ Apple Music: https://lnkd.in/gZgMNzAX Spotify: https://lnkd.in/gTct-364

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📈 AI in the insurance industry: the path from proof of concept (PoC) to successful production 🌟 The introduction of AI in the insurance industry harbours enormous potential for efficiency gains and innovative services. However, more than half of AI projects fail in the initial phase - often when scaling up after a successful #PoC. What are the 🔑 key success factors? Four key areas of action for the success of AI projects: 👉 Strategic selection and precise definition of use cases 👉 Organisational anchoring and stakeholder buy-in 👉 Data excellence and data quality 👉 Excellent implementation and sustainable operation Jan-Erik Bischoff from AdEx Partners and Andreas Zitzelsberger from our partner 🤝 QAware GmbH shed light on the challenges in their article for IT Finanzmagazin and show solutions for how companies can overcome hurdles and successfully transfer AI projects to productive operation. A targeted 🎯 approach to defining, implementing and embedding #AI applications creates the basis for realising the benefits of AI in the long term. Read now and find out how insurance companies can utilise AI profitably ⤵️ https://lnkd.in/evSHknQG #AdExPartners #TrustedAdvisors #TrustedLeader #AI #ArtificalIntelligence #KI #PoC

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Embracing the (embedded) future of auto insurance!   Motor insurance is undergoing a major transformation, which is why I was happy to share my thoughts in @Qover’s latest white paper ‘From affinity to omnichannel embedded insurance: a guide for automotive OEMs’. The report explores the challenges OEMs face with their current insurance programs and why embedded insurance is the way forward.   Explore the full potential of embedded insurance by downloading the white paper here 👉 https://hubs.li/Q02V5K670

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I am always happy to read the many contributions and discussions about #embeddedinsurance or #insurtechs or #ventures. Also the doubts that the #insurance industry is capable of transforming itself. The example of #iptiQ comes in very conveniently. Many CEOs will now feel confirmed that innovation is only expensive and does not pay off. Even a reinsurer with a lot of capital has not succeeded. And #embeddedinsurance doesn't work after all. That's not my opinion! Most international insurers are currently focusing on their core business again. That's not wrong. But what is wrong is that new topics are being tested with the wrong structures and resources. Corporate venture is an irritating word for most CEOs anyway. But why? because success is not guaranteed? because it requires too much budget? because it is easier to concentrate on the core business that you have known for decades? because there is no pressure from insurtechs anyway? where are the successful ones? is success only about growth? or how much money has been raised? then we also need to talk about the different terms. Some MGAs call themselves a tech company. However, they do not have an insurance license and therefore work on behalf of one or more insurers. Then there are insurtechs that offer SaaS or see themselves as a platform between insurers and MGAs or insurers and business customers. This then leads us to the nice term B2B2B2B2C...insurer2insurtech2MGA2customer2end customer... all confusing. Then there is the question of which business model works...with so many Bs and everyone wants to make money. Apologies for my occasional sarcasm. But fortunately I had the opportunity to get to know many different models. But now I'm interested in your opinion. How do you see the future of #embeddedinsurance, of #insurtechs, of #MGA, of #insurers and #transformation and #innovation?how important are #VC? Simon TorranceNikolaus SührJan SedlacekPia TischhauserPatrick Wirth👋 Ronald EngelGábor LehelAdrien LebeguePhilippe MASSETManuel HörlDave GarrattJordi PagesAndries SmitTomek BugajskiPeter HagenHermann FriedParker CrockfordPierre WillaertSilvan StüssiDr. Christoph SamwerRita CarvalhoLukas KellerSebastian Van de Perre GomezThies HofmannChristoph NützenadelThomas MeierWouter In 't VeltMax MeisterMatthew JonesUrs HaeuslerNiclas DelfsPatrick BühlerMartin StrobelMarat NevretdinovFlorian GraillotDanuta Żukowska

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🎙️ Some keen insights on “The State of AI” by a16z co-founders Marc Andreessen and Ben Horowitz: 📊 Normal Distribution in AI: If an AI model ingests the entire internet, the output will be average, reflecting the average quality of the input. Smarter prompts can unlock latent higher-quality output. 📚 Domain Knowledge Matters: Beyond generic intelligence, encoding domain-specific knowledge is crucial. The real value of a product lies in how well you can orchestrate workflows and charge based on value, not just wrapping an OpenAI model and charging for the work saved. 🔑 Proprietary Data: It's not a sustainable moat. Proprietary data is just a drop in the ocean compared to the vast internet. Does it really offer that much more insights? 🏗️ AI Industry Development: Think of AI like the computer/microprocessor industry. From supercomputers to chips in thermostats, it's about choosing the right size for your needs. 📉 Boom and Bust Cycles: These cycles are essential. Initial speculation and investment lead to oversupply and losses, but they also lay the groundwork for future value. #AI #TechInnovation #Business #VentureCapital #GenerativeAI

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It’s really great to see how Zurich Claims is deploying tech / AI-based tools to counter the ever-evolving sophistication of insurance fraudsters 🥷. That the benefits have been delivered in partnership with the leading edge capabilities of Zurich Customer Active Management (ZCAM) proves that ‘build’ can win over ‘buy’ if you have invested in the best in-house expertise 🤔 . This is also one of the few successful ‘build once and scale’ claims tech / AI initiatives that I’ve seen in a large carrier 📈 . Both these wins for Zurich demonstrate that, backed by the right investment, a purpose-driven, skilled, team operating in coordination and cooperation can deliver tangible, scale, benefits from tech / AI solutions 💡. Kudos to all those involved including Clarissa Grassi, Andrew Fairclough, Aleksandar Vidovic and the claims teams across the business. #claims #AI #claimsAI #claimsfraud #claimstech

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 ▶️ What an honor to share the stage with Prof. Dr. Torsten Oletzky at the GDV Gesamtverband der Deutschen Versicherungswirtschaft e.V. last week! I had the privilege of delivering a keynote on “The Successful Founding of an AI Start-Up for the Insurance Industry.” It was an incredible opportunity to reflect on the unique challenges and immense potential of AI in this space. Several key insights crystallized in the process: 🔒 Data Protection as a Competitive Advantage The GDPR, often seen as a hurdle, has become a powerful asset for us. By adhering to strict data protection standards, we’ve built trust with insurance companies, proving that compliance can drive growth. 🤖 Horizontal AI Architecture A flexible, horizontal AI approach is essential to cater to the diverse and complex processes within the insurance industry. Customization is key to success. 👩‍💻 User-Friendliness is Non-Negotiable AI solutions must be intuitive and user-friendly for clerks to adopt them seamlessly into their daily workflows. Usability drives impact. 📄 Document Processing: The Elephant in the Room Insurance claim handlers spend 100–120 hours per month on document processing. This is a significant bottleneck where AI can deliver transformative efficiency gains. These insights reaffirm our commitment - @ natif.ai - to providing innovative, tailored solutions for the insurance industry. The opportunities for AI are immense, and we’re just scratching the surface. 🙏 Thanks again to the organizers for inviting me to this inspiring event. It’s always exciting to exchange ideas and envision the future of technology in insurance. Let’s continue to innovate, challenge norms, and drive progress! #AI #InsuranceIndustry #DocumentProcessing #Innovation #GDPR #InsuranceTech

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How do #IT and #Underwriting contribute to a company’s success? Together! This became clear when I met Scrum Master and Release Train Engineers of our IT department in Digital@Global as part of my speak-up format. IT rarely takes center stage in #insurance business. Yet IT is so important for HDI Global SE in times of #digital #transformation. #Data, digital tools and processes are key in our daily work and thus IT is a crucial factor in making our strategy happen. Only when business and IT collaborate closely and hear their different perspectives, we will be able to use the right data to make the best Underwriting decisions and offer the best solutions for our clients. Underwriting is just one example, as the colleagues are also responsible for the IT implementation in #Claims, #Sales, Business Intelligence etc. A lot of exciting learnings for me. Thanks to all of you! I always enjoy these regular speak-up meetings with different groups within our organisation as they give me great insight into what needs to be done for HDI Global’s future success and what I can do to support. Always keep in mind: listening to and cooperating with each other are as important to move forward as understanding our clients’ needs.

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Great input on #HZInsuranceForum . Thesis - Biggest potential for insurance from an economical factor will be APAC . Let’s see how this will transform board rooms and the allocation of HQs. Switzerland 🇨🇭 might stay in the middle but has to watch out Meet us at insurance forum #PwC Fabian Hürlimann Christian Lippke

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Thank you for your contribution, Silvan Stich! Your insights on the relevance of low-code technologies in the insurance industry are very valuable. Indeed, insurance companies face significant challenges, particularly regarding regulatory requirements and the need to optimize processes. As you mentioned, low-code enables a quicker adaptation to new legal mandates and enhances the efficiency of internal operations. Many insurers have already digitized their services at the customer interface; however, there is still a need for improvement in internal processes. Low-code can help automate manual tasks, thereby accelerating digital transformation both internally and externally. Another important point is customer orientation. With low-code, companies can adapt their products more swiftly and introduce new services more efficiently. This is crucial for meeting the growing expectations of customers. I look forward to read more about practical applications and successes in this area! Go to the article: https://lnkd.in/dJSQb9uX

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Currently, one in three customers is dissatisfied with their insurer's claims process, but AI and #automation are already changing this. Are insurers prepared for this potential transformation? 🤖 In this episode of The Power of Possibility #Podcast, Christian Ott, Director of Global Solution Design at SPS, shares how insurers can implement successful AI programs to improve claims management, fraud detection, and data optimization. 🎙️ Discover the strategies reshaping the future of insurance! 💡 Listen to us on Spotify: https://sps.news/tIOl7b Stay tuned for updates: https://sps.news/Pe2HR6 #AI #Insurance #Automation #CustomerSatisfaction #DigitalTransformation

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Looking forward to moderating this panel of outstanding experts on the transformational power of #AI in #Insurance and #Reinsurance!

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RealRate's German Risk Inusrance ranking for 2024 is out now; watch the video right here! realrate.ai - Explainable Financial AI YouTube Link: https://lnkd.in/eiCkBuNn #AI #Technology #Insurance #Germany #Innovation #future #trending #finance #linkedin

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Looking forward to this chat with Nikola Djokic, to talk about opportunities and key success factors of embedded insurance. Thank you for having me SAP Fioneer ! Register here --> https://lnkd.in/eniSBr_C #EmbeddedInsurance #InsurTech

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From profit killer to business booster for the insurance industry: discounts are often granted too generously and without a clear plan. No insurer can afford this anymore due to the cost pressure being too high. In Zeitschrift für Versicherungswesen, @Philpp Kaupke and I explain how insurers can optimize their discount strategies. Three measures are important for success in the short, medium, and long term: 1. short-term: create transparency and scrutinize framework agreements 2. medium-term: analyze campaign discounts and increase effectiveness 3. long-term: involve sales and link incentive systems to the strategic use of discounts Read more in Zeitschrift für Versicherungswesen (German) or learn more about how to optimize your discount strategy in a personal meeting. https://lnkd.in/eD9_mmDw

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𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝗽𝗹𝗮𝘁𝗳𝗼𝗿𝗺 𝗲𝗰𝗼𝘀𝘆𝘀𝘁𝗲𝗺𝘀 𝗶𝗻 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 Came across this report by the The Geneva Association which adds some market data to their (not brandnew but ofc still valid) recommendation that insurers should embrace digital platforms and ecosystems as such to access more customers and improve CX. Large insurers should co-develop platform ecosystems while partnering with existing platforms with sufficient and/or fast growing end customer bases is a suitable approach for all. Hence, players which are large enough and determined might even want to pursue both ways. There are interesting European examples and opportunies for your business. Let's talk! #insurtech #ecosystems #platforminsurance #insurance

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Nothing feels better than delivering on a promise. Wouldn’t you agree?   This is how we feel today as we unveil our #Q1 2024 results, with a strong performance across the board, in all segments. These results are a reflection of the courage, optimism, and dedication in which our employees serve our customers and partners in these unpredictable times combined with accelerated change. They symbolize the skillfulness and capabilities of our teams, and the values of consistency and resilience which drive their daily actions. But most of all, they are a token of our shared pledge at #Allianz to cut across the turmoil, reduce friction and deliver peace of mind, no matter what.   So not only do we confirm our outlook, we will continue leading the charge on solving people’s most pressing concerns and growing their #trust in us.   Because everyone deserves to feel that the future can be positive and opportunities can be reaped even in challenging times. #FinancialResults #AllianzFinancialresults

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