31 Closing Remarks When we started Startupbootcamp InsurTech three years ago, we did not expect With this statement, we want to stress to market players - makers and that InsurTech as a topic, would become engrained as a key component of participants - that anyone in insurance interested in the cultural change and the way business is done in insurance so fast. We learnt a lot from observing innovation that InsurTech companies can generate either through collaboration, retail-based propositions emerge, seeing InsurTech move from consumer-led to partnership or investment opportunities, must look at the problem with a business-led propositions, as they combine more advanced sets of capabilities different lens. Insurance is everywhere. This means that digital capabilities and technologies to solve more complex problems. brought about by InsurTech and other new ventures will potentially touch every From Mexico to Singapore, we were able to identify, accelerate, invest and facet of our world and ecosystem, to address very specific issues ranging from support over 50 InsurTech startups across our InsurTech, FinTech and Cyber- the protection gap, serving the underserved, or the impact of a potential fourth security programs. We were able to classify how InsurTech combined with industrial revolution on insurance. PropTech (BuzzMove/ BuzzVault); IoT (Fing); AgriTech (Aerobotics, Cystellar); I feel very privileged to be working with forward thinking businesses, young Aircraft Manufacturing (Zasti); Supply Chain (Adapt Ready, Statwig) or the and old, that are truly engaged in reshuffling, disaggregating and reinventing Sharing Economy (Valoo, ForestCar) could solve very unique challenges across customer propositions and value chains from back to front. And I look forward to the insurance value chain. Insurers and InsurTechs have so far engaged in over helping them identify those unique differentiating models that will make their 300 pilots with some well-publicised success. business survive, thrive and excel for the years to come. Emerging technologies combined with a demand-driven market have pushed Through this process we also hope to contain the “innovation theatre syndrome” businesses and innovators to consider transparency and trust as a core part of which delivers few results. But for now, it is part of our current reality. their customer propositions. Sharing economy entrants and the tech giants have Sabine VanderLinden both facilitated the move toward such core principles and building blocks of tech-led offerings. CEO, InsurTech Business, Startupbootcamp & Rainmaking Today, insurers are seeking means for driving profitable growth and of identifying new possibilities for differentiation. As part of this search, seeking relevance from adjacent industries as a means for inspiration is becoming part of that equation. As we now predict that “InsurTech will be ‘Insur’Tech no more” we know that this statement will trigger a few raised eyebrows as InsurTech was only truly established four years ago – whilst FinTechs have now existed for 12 years and are still going strong, challenging bank thinking and financial services infrastructure.