Question Catalog insureNXTǀCGN for Dr. Mathias Bühring-Uhle
Why a look at Asia is worthwhile for the German insurance industry
Dr. Mathias Bühring-Uhle, Member of the Executive Board of Gothaer Versicherung
1. As digital chief of Gothaer and chairman of the board of InsurLab Germany you have a good overview at the market. How do you rate the current digital competence of the insurance industry?
The insurance industry is certainly not the leader in terms of digitisation compared to other sectors – such as banking – but it has invested enormously and caught up in recent years. The Sense of Urgency has arrived, but most insurers are struggling with aging IT and still need to create the conditions for a compelling digital customer experience.
2. Is there a global insurance market that has already achieved particularly far in the digital transformation? And which innovation in the insurance industry impresses you most internationally?
According to my observations, these are primarily the Asian markets – and here China is the digital leader in the first place. This is not only due to the investment and innovation power there, but also to the open-mindedness of the customers and a different legal framework regarding data protection and the like. An innovation from the Chinese market that really impresses me: The insurance and financial services provider Ping An has developed a voice recognition system with which the caller can be identified unambiguously on the telephone.
3. What role do start-ups play in the transformation of traditional insurance companies in general and specifically for Gothaer?
On the one hand, insurance start-ups as attackers on traditional insurers are causing the whole industry to move and lead to pressure to adapt. But even more important are the start-ups that provide certain digital solutions such as payment systems, customer identity management or apps, thus making insurers’ business models more attractive and digital. This also applies to Gothaer.
4. Are there certain insurance segments in which Gothaer is increasingly planning innovative, digital projects and when will these become public knowledge?
There are a number of digital initiatives, for example in the area of SmartHome with ABUS, mobility with the Startup Emil or health (keyword: telemedicine). However, all in all there are too many of them to list. I don’t want to cross bridges until we come to them, but I can promise that there is still a lot in the pipeline.
5. What do you expect from the premiere of insureNXTǀCGN?
I am hoping for an event that the participants would like to repeat.
6. When we meet you at insureNXTǀCGN in April, what is the easiest way to get in touch with you? And with which sentence does the conversation end very quickly?
No idea – just try and see what happens 😉