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AXA Innovation Day unites fintechs

The event organised by “AXA Insurance” (owned by global AXA Group) united experienced developers. They made presentations on how disruptive technologies can transform established insurance field.  Within the event the first ever hackathon in the history of the Ukrainian insurance market was held.

The event was located at LOFT Kyiv Art platform in the atmosphere of advanced incubators. “LOFT-styled location was not a random choice – it is a modern style with the motto “minimum separation, maximum space and conversation”. The idea of transforming abandoned factories for innovative events gives the opportunity to enjoy the open and free space with no rules and restrictions. This is a place for creativity”, the company said. During the event, Philippe Wautelet, СЕО of “AXA Insurance”, noted that an innovative development path chosen by the company required a shift of the way of thinking on all management levels. The hackaton held as part of the AXA Innovation Day was a part of digital transformation project, which was started just for the purpose of implementation of such in-depth changes.

The aim of the event was to present interesting solutions for the further innovative development of the company. There are two main directions that were developed during the hackaton: new positive customer experience and generation of new businesses. Two projects were presented within each of the directions and, as a result, there were chosen two final projects, which would be implemented. In addition, the winners were awarded with a prize printed on a 3D-printer, which was set up just right on the stage. A total of 150 persons were engaged in the project and about 30 persons were working in teams on presentation of their ideas. As Andrey Peretyazhko, First Vice President of insurance company noted, most of the staff work with digitalisation, start-ups and innovations almost every day. Also, the company has a group of specialists and managers, which is a part of Digital Transformation Committee, who invest their time in implementation of innovations in the company. “We have a Digital Transformation Strategy and a plan of its implementation», as First Vice President of insurance company “AXA Insurance” highlighted, focusing on systemic innovation approach. Visionary sessions, during which experienced developers and participants of global hackatons were delivering their speeches, were also scheduled in the programme of the event.

Vladimir Dubinin, CEO of Distributed Lab (blockchain-provider) was amongst the speakers invited to the event. About a month ago, he with his team won a blockchain hackaton with the first ever Ukrainian insurtech-project created on the basis of smart-contract and blockchain technology, – “Delayed flights insurance”.

Vladimir Dubinin, CEO of Distributed Lab

“This project primarily concerns technologies and care about people”, he noted and also added he got this idea when he was stuck in the airport for several hours. This project implies self-claimed insurance, which does not require a customer to call the insurance company and claim the insurance event (in this case the flight delay is such an event), as smart-contract will automatically activate the reimbursement procedure while the blockchain technology will allow to receive latest on-line updates on delayed flights.

While summing up the hackathon, a high level of engagement of the company’s staff in an innovative format was highlighted by the company. The current plans are to go further than this event and keep developing a line of innovative activities.

This year, when the Ukrainian insurance market celebrates its 25-years independent history, can be named as a year of insurtech birth.

Kate Shcheglova,

chief-in-editor at “Future” magazine

 

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