Tag: pitches

InsurTech Cashwalk in WERK1: A pitch event of superlatives

From mobile health checks at the workplace to full-service partners for drone services. At the first InsurTech Cashwalk at WERK1, 27 international start-ups competed for the favour of more than 60 hand-picked investors. In the end, the jury honored three winners.

The InsurTech Hub Munich has invited together with the LMU Entrepreneurship Center to the Cashwalk and the startups, they came in large numbers. More than 50 had applied in advance, at the end about half of them were allowed to present themselves to an audience of potential investors. The challenge: Each start-up had just three minutes to present a problem, the solution and the product.

What is special for us is that it is a pitching in staccato mode. The cashwalk is a very nice allusion to the catwalk, a kind of showdown of the startups. We chose this format very specifically so that the listener, especially investors, has the opportunity to see a large number of startups in a very short time and to get a first impression.

Dr. Florian Mann, CEO WERK1

Those who wanted to leave a lasting impression had to have the appropriate answers ready for the jury after the pitch. The critical questions posed by the ten jury members were primarily aimed at luring the founders out of their reserves and examining their ideas in detail.

In addition to looking at the business model, founders and previous traction or pilots, I am also interested in what really differentiating capabilities the company is building and how these can be scaled – for example with an insurer as a cooperation partner – and how concrete impact can be generated.

Dr. Volker Büttner, Head of Group Innovation im Generali-Headoffice in Mailand (Juror)

It’s also important to me to see how the team is put together and what fire they bring with them, so are they really convinced of their idea?

Dr. Florian Mann, CEO WERK1 (Juror)

In the end it was not only the business potential that counted, but also the enthusiasm, which of course also had to be felt by the investors in order to be convincing. The desired investment sum of the start-ups ranged from 40,000 to 2 million euros. Ambroise Fargère from +Simple came from France especially for the InsurTech Cashwalk.

I just started at my company four weeks ago. So the pitch today was quite a challenge. But it’s great to be here, to meet people and above all to connect with potential partners.

Ambroise Fargère / +Simple

We are here to meet interesting new start-ups from the InsurTech sector, because this is an important market and the industry is in a state of upheaval. The interesting thing about this event is that on the one hand there are a lot of start-ups from one subject area and on the other that the investor scene is also represented. So you can also exchange ideas.

Stephan Mohrhardt / Ancore Finance Group

There were certainly enough interesting and extraordinary ideas on this exclusive pitch day. Here is a small excerpt:

BODY-LABS: THE HEALTH CHECK AT THE WORKPLACE

Whether control of heart, blood, or breathing. The vision of Body-Labs is to use a mobile laboratory to give employees a holistic insight into their most important health values in just 15 minutes. Everything in the comfort of your workplace. For entrepreneurs, this could be an interesting possibility in the future to be able to
to invest individually in the health of their employees.

IDANA: THE DIGITAL ANAMNESIS

Using a digital questionnaire, the startup wants to record important information even before the consultation with the doctor. The questionnaires are specially tailored to the patient’s complaints and can be answered via smartphone or tablet in the waiting room or already from home. The physician receives the data in encrypted form and can thus
to get a more accurate picture of his patient in advance.

DYNAMIC COMPONENTS: EARLY DETECTION OF PROCESS RISKS OF LIFTS

The startup from Munich has developed software and hardware for predictive maintenance of elevators and escalators. For example, data on elevators and escalators is to be collected and used for trend analyses. The aim is to reduce maintenance costs for the customer and to avoid breakdowns that can even determine life and death in hospitals.

At the end of this exciting pitch day, Andy Goldstein from the Entrepeneurship Center of the LMU Munich awarded the winners. 1st place went to Black Rock Insurance from Great Britain, followed by Dynamic Components and FairFleet from Munich. The gift bag for the winners, rather symbolic. The much greater value was certainly the one or the other business card of an Investor.

DIGITAL HEALTH MEETS INSURTECH – MEET THE ARCHITECTS OF OUR FUTURE HEALTHSYSTEM

It’s not often that we start sweating before an event. But for the event “InsurTech meets Digital Health” we were pleasantly surprised at first by the number of registrations, but in the meantime we were afraid that we would not be able to offer space to all interested parties. In the end, however, we presented ourselves once again in WERK1 as a competent host.

INSURTECH MEETS DIGITAL HEALTH

But from the very beginning, InsurTech and Digital Health have a firm place in the WERK1 thanks to our W1>>Forward programs – what could be more obvious than bringing the two worlds together and this is exactly what we did. On February 19th, together with our partners, the InsurTech Hub Munich and Roche, we organized the first official meetup for the digitization of the insurance and healthcare industry at WERK1. With over 350 registrations – including a waiting list of 70 people – we were afraid that we would not be able to accommodate all interested participants. But we didn’t have to turn anyone away, and in the end all of them were accommodated in our event space, which was filled to the last seat.

FROM THE PITCH TO A PANEL DISCUSSION

The stage initially belonged to four up-and-coming startups: Fibricheck, Ottonova, SkinVision, Teleclinic, some well-known names in startup communities and all of them pitched their concepts in front of assembled experts. These came partly from large companies in the industry, but also from potential investors. Short keynotes from Munich Re and Schön Klinik gave an insight into the current challenges facing both sectors. In the following expert panel, moderated by Dr. Dominik Pförringer, Benedikt Zacher – CEO of BK Ventures, Dr. Jochen Hurlebaus – Head of Central R&D Services – Innovation & IP Management at Roche Diagnostics, Carol Wildhagen – CEO and co-founder of Ariana Health and Dr. Regina Vetters – Head of Digital and Innovation bei BARMER discussed the need to digitalise both industries and gave tips on how to be successful in their field of business. All in all, a round program in which almost all those present found themselves in one way or another.

Around 9 p. m. the official program was over and everyone who was present could enjoy a nice round of snacks and drinks. There was also time for networking and direct exchange among each other.

We are looking forward to continue to provide new impulses for the insurance industry and the health care sector from WERK1 with creative startup concepts and a platform for direct exchange. Our WERK1 community can only benefit from this as well.

EVENT FEEDBACK

Thanks to organization via Meetup we got a lot of interesting feedback directly after the event – thank you very much. Here are some excerpts: