More than insurance - Transformation dilemmas

The transformation dilemmas in an "old" industry and beyond...


How we will make insurance in Metaverse & Omniveres for our avatars?
How we will make insurance in Metaverse & Omniveres for our avatars?

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More and more news around Metaverse, Omniveres, Decentraland... A few company has already bought land, built stores, organized campaigns there. Few days ago one night - to see what is going on here - I have signed on decentraland.org and made my avatar.

I have looked around a bit. A few avatars passed by, but I have not really found anything which would be super interesting…

I have tried to check how many visitors / users they have. One tech-blogger claimed, it is around 300 ...

Dilemma 1.: Structure vs. Strategy how NETFLIX would do it?
Dilemma 1.: Structure vs. Strategy how NETFLIX would do it?

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I always loved to watch sci-fi movies, learn about new technologies and new models. In the last decades, many things have happened thanks to the digitalization boom. It is always interesting to think what the main drivers of this new area could be.

A lot of new models have grown up recently, which are redefining existing industries. Amazon, Netflix, Uber, Transferwise, Airbnb are just a few examples. It is always interesting to think about how they are organizing themselves and how they ...

Innovation is the COVID (or the vaccination) of the traditional industries...
Innovation is the COVID (or the vaccination) of the traditional industries...

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Photo has been made between 2 lockdowns.

A blog post that I wrote in 2018 popped up in my social media feed recently. When I saw it, I have decided to restart my blog, but with a slight twist. As a start, I have changed the name from “Insurance2.0” to “More than insurance – Transformation dilemmas”. (I also kept the old posts since it might be interesting to read them in 2-3 years again.)

The reason is simple: writing a blog has two benefits. Therapy for the writer :) and ...

HELPING TOGETHER Szilvia Lubics - Brave Camp - CHERRISK
HELPING TOGETHER Szilvia Lubics - Brave Camp - CHERRISK

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Dire conditions, extreme weather and several hundred kilometers of running – that’s what Szilvia Lubics must face during the Ultra Gobi. Hungary’s best ultramarathoner will compete on her own in the Gobi Desert, but she won’t be alone. Her supporters can share this journey with Szilvia through a special application measuring how much they walk and run together. These active minutes can be converted to donations with CherryGo to the Brave Camp (Bátor Tábor), a foundation organizing ...

Over 100 000 users in CHERRISK ecosystem
Over 100 000 users in CHERRISK ecosystem

 

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Original published on prtfolio.hu by István Palkó (December 2019)

PI: CHERRISK is one of the most innovative Hungarian insurtech initiatives, and to top it all, it was launched by an insurance company, namely Uniqa, last September. In May you reported a contract volume over 10k; where are you now?

KK: The last couple of months experienced a real breakthrough at CHERRISK, as the contract volumes are approaching 40k, due to the hard work of our colleagues working at CHERRISK and ...

Insurtechs - Prince Charming, whose kiss awakens Sleeping Beauty
Insurtechs - Prince Charming, whose kiss awakens Sleeping Beauty

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In the insurance industry there’s not a single professional conference without at least one panel discussion on the world of insurtech. This is the area, where efficacy is tried to be improved by the application of new technologies; still, there’re quite many things mixed up in this topic: the big players’ fear of change, of losing their current position, as well as the unrestrained self-confidence of the start-up generation, for whom constraint and limitation are unknown phenomena

...

ELON MUSK: "...IF WE NEED TO, WE WILL IN-SOURCE IT (THE CAR INSURANCE)..."
ELON MUSK: "...IF WE NEED TO, WE WILL IN-SOURCE IT (THE CAR INSURANCE)..."
It's not "so far away" when there will be no need for a compulsory motor third party liability insurance! Vol.2

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Elon Musk: “...If we need to, we will in-source it (the car insurance)...”

Previously we’ve ended up with the question whether insurance companies are prepared for the disappearance of car insurance. Well...

Elon Musk made a rather harsh utterance.

In Hungary car insurance made around 50% of non-life insurance related premiums in 2017. This is a pretty high number.

But where does it disappear? The right question is rather what it’s transformed into?

There’re the ...

Let's break the spell
Let's break the spell

Piac és Profit 04.2018.

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Insurance companies have to break with their current hierarchical structure and classic business architecture if they want to remain competitive. As for the inclusion of young talent the most important threat is nothing else, but the absence of messages.

 

There’s a magic expression, which is indeed typical of great enterprises and a highly efficient tool for strangling innovation: “That’s the way we do it.” This might be the deadliest poison for a ...

MAYBE IT’S NOT FAR AWAY WHEN THERE WILL BE NO NEED FOR MTPL VOL.1.
MAYBE IT’S NOT FAR AWAY WHEN THERE WILL BE NO NEED FOR MTPL VOL.1.

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There aren’t many who know what kind of cover for damage one gets for the price of a tank of petrol. Of course one might also say that there’s no cover at all, as: “Not me the one who gets the compensation anyway...”.

But what is insurance about? The members of a community take responsibility for each other. Here the situation is exactly the same: I cause an accident through no fault of mine, so the innocent party shouldn’t incur a loss.

Unfortunately it’s not a well-known ...

Blockchain
Blockchain
A hit, bigger than the Internet soon to cause an upheaval in our lives

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Portfolio.hu

István Palkó, Ádám Pál Turzó 24 January 2018

In 2-5 years blockchain based solutions may appear at Hungarian insurance companies as well, whereas in the long run the complete centralized model of insurance industry may be terminated by blockchain - says the CEO of Uniqa Biztosító Zrt. In the following interview he outlines how the new risk communities can be imagined, for whom the “valve” function of insurance companies could disappear, and insurance companies ...

More than insurance - Transformation dilemmas

We are in the middle of the insurance industry transformation. We have already learned a lot what is working, what is not. It is all about people and strategic calls! Here I will share our management success and challenges…

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