InsurTech Hub Munich
InsurTech Hub Munich, short ITHM, describes itself as the central platform for insurance innovation and is one of the 25 official digital hubs of the German federal government. The Bavarian Ministry of Economic Affairs supports it. Its members and partners include Allianz, Munich Re, Generali, Versicherungskammer, HUK-Coburg, R+V and ARAG, and its stated goal is to speed up the technological change of the insurance industry. One of its programs deals with AI alone.
Who runs InsurTech Hub Munich
The hub is run by InsurTech Hub Munich e.V., a registered association with a subsidiary, ITHM Innovation GmbH. Its board is made up of leaders from the insurance members, and an advisory board includes a representative of the Bavarian Ministry of Economic Affairs, as its about page (in German) lists. The de:hub page on the Munich insurtech hub names the address c/o WERK1 in Munich and describes the offer: training for founders, mentor matchmaking and a collaboration initiative that pairs established insurers with technical scaleups.
The partner list goes beyond insurers. Deloitte, Google, Salesforce, NTT Data and QAware sit next to Munich Re, Hiscox, die Bayerische, WWK and the Bayerische Versorgungskammer, and the Federal Office for Information Security (BSI) joined as a partner. Allianz and Munich Re have their headquarters in the city, and the fintech in Munich page covers the insurers and wealthtechs around them.
Venture client program and NXT programs
The venture client program (in German) brings startups together with established insurers so that they build market-ready solutions together, and ITHM designs it each year from talks with its insurance and technology partners. It looks for ventures with strong market access and rising demand in insurance.
The annual program runs under the name NXT:LEVEL, with topic tracks such as NXT:Commercial, on insurance products for small and medium-sized businesses, and NXT:Distribution. Tech Accelerator Days add mentoring sessions for startups and scaleups.
Scale AI, DORA and the EU AI Act
The Scale AI program (in German) wants insurers to move from isolated proofs of concept to the transformation of whole processes, with AI use cases along the value chain, governance and talent as its fields, and a position paper on AI agents in underwriting. The hub also works on data, cloud transformation, DORA and the EU AI Act, and it has hosted a pop-up embassy of BaFin, the German financial supervisor.
These rules apply to insurers and banks alike. DORA in Germany covers the ICT risk rules, the EU AI Act in finance the high-risk uses in life and health insurance, and AI in insurance the use cases themselves.
Upcoming fintech events in Munich
What is ITHM?
ITHM is the short name of InsurTech Hub Munich, the association in Munich where insurers, technology companies and startups work on innovation in insurance. It is the Munich insurtech hub of the federal de:hub initiative.
Is there another insurtech hub in Germany?
Yes. InsurLab Germany in Cologne is the second insurtech hub in the de:hub initiative and co-organizes the insureNXT congress. The insurtech in Germany page compares the two.
InsurTech Hub Munich and Finance Loop
Finance Loop has a chapter in Munich, runs networking events in Munich and the Bitcoin seminar in Munich, and covers AI in insurance, DORA and the EU AI Act in its Risk & Compliance field. Insurers and insurtechs can meet banks and asset managers there as members, through a sponsored meetup or webinar, or by hosting an event.
Finance Loop is a professional network and has the goal of driving the adoption of emerging technologies in finance, such as AI, digital payments, cloud and blockchain solutions. Finance Loop helps its members build skills and personal networks in these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.