IT company CROC hosted a Russian stop of the InsureTech Connect1 + Digital Insurance Agenda2 World Tour, the largest digital insurance and insurtech event of the year launched by two global industry leaders. Like other tour events, the conference was held online to reach viewers both in Russia and abroad.

Insurtech startups do not look to compete with or disrupt insurance businesses, but rather act as a component of the insurance ecosystem that is essential for further existence and growth. This was a key message of speeches at the opening panel discussion by Evgeny Gurevich (CEO, Kapital Life Insurance), Ivan Matveev (First Deputy CEO, Ingosstrakh), and Victor Dubrovin (Vice President, All-Russian Insurance Association).

Insurance companies are interested in collaborating with new small businesses and even launch accelerators, like those offered by Kapital Life, to attract and engage with the most valuable startups. Ingosstrakh cooperates with companies that help increase pricing transparency, implement behavioral risk scoring, and improve customer experience. The All-Russian Insurance Association considers insurtech to be a crucial part of the insurance business and is willing to collaborate with startups, integrate them within the industry, and assist in establishing partnerships with peers.

The showcasing of startup solutions is traditionally a key focus of ITC + DIA events. Russian startups highlighted the scope to improve business processes and value chain creation. Five startups were earlier selected by an expert jury out of more than 20 extremely varied applicants to pitch their ideas: digitization of insurance documentation (dBrain), drafting standard documents (Doczilla), inspection of insured property (ViewApp), instant insurance indemnity (OVAL) payments, and automated customer communication (InfoBot).

Digital transformation is changing insurance before our eyes. Global insurtech has evolved into a mature industry with a large and respected professional community that is reinventing the image and very essence of insurance. We are happy that CROC’s contribution helps Russian insurtech professionals join this community and share experience, ideas, and solutions with colleagues globally.

Andrey Krupnov
Industry Solutions Director for Insurance Sector, CROC

The showcased products proved that Russian insurtech quality matches global standards, while the event is helping to jump-start the industry and enable players to gain a firm foothold in the global market. The document recognition solution won the majority of viewers’ votes, with dBrain set to present its products at ITC Global, the tour’s final three-day event.

We are happy to be a part of this large-scale event. CROC introduced Russian insurtech to the global market and also opened the door to international best practices for any interested parties. For a few hours, we created a space for dialog between insurance companies and Russian startups, providing the opportunity to revitalize the Russian insurance industry.

Denis Gavrilov
Director for Insurance Business Development, CROC

1 InsureTech Connect (ITC) is the world’s largest insurtech event, offering unparalleled access to the largest and most comprehensive gathering of tech entrepreneurs, investors, and insurance industry executives from across the globe. Founded by Jay Weintraub and Caribou Honig, ITC has been attended by over 25,000 people from 65+ countries. InsureTech Connect Digital will be held September 21-23, 2020 & InsureTech Connect Asia will be held February 2-4, 2021. You can find more details on insuretechconnect.com.

2 Digital Insurance Agenda (DIA) is the leading community in insurtech and insurance innovation in Europe. Hosted by DIA founders and insurtech influencers Reggy de Feniks and Roger Peverelli, the two iconic annual events, DIA Amsterdam and DIA Munich, are coined the ‘must see’ conferences to get inspired by thought leaders from inside and outside the industry and 50 handpicked insurtechs. The 2020 edition of DIA Amsterdam will take place on 28 and 29 October in the awesome Westergasfabriek venue. You can find more details on digitalinsuranceagenda.com.