Invitations to Tryg Xplore were sent out in January, and Tryg is now awaiting applications from startup businesses that would like to participate in the programme. “We are sure that there are many good ideas and concepts that are just waiting for someone to help them over the last hurdle,” says Schumann-Olsen.
Tryg Xplore is intended for so-called “later stage startups”, i.e. those that have developed their ideas and concepts into something that can soon be launched. The content of the programme is adapted to startup businesses in finance and insurance technology that need assistance to get one step closer to commercialisation.
“We are now widening the search, and we expect to find between five and ten startup businesses that will join us going forward,” Schumann-Olsen adds. The actual programme consists of nine workshops with unique content, and everything will take place at Tryg’s Norwegian head office in Bergen. Tryg has selected the company Rainmaking as a partner for the programme.
Jannicke Schumann-Olsen from Tryg and Atle Sivertsen from Finance Innovation have been inspired by The Camp in Denmark when collaboration with entrepreneurs in Norway is to be strengthened.
“This has been inspired both by Tryg’s success in Denmark with The Camp, which entailed Tryg and entrepreneurial businesses sharing offices, and of course by the Finance Innovation cluster in Bergen, which Tryg is an active part of. We hope that the accelerator programme to be launched by the Finance Innovation cluster can attract some of the participants from Tryg Xplore,” says Schumann-Olsen.
Several initiatives are imminent
Tryg’s innovation director has no problem admitting that both Tryg and the insurance industry have lagged behind in the development of technology.
“However, we are more than making up for this. We are now a world leader in the field of automated claims processing in a variety of our areas. We have implemented electronic accident reports for motor vehicle accidents, and in January we launched UNDO, which is one of the world’s first fully digital and web-based insurance companies, owned by Tryg,” says Schumann-Olsen.
And who knows? Perhaps one of the seven companies joining us in Tryg Xplore will have the idea, product or service that will propel us into the future and help make our customers feel safer in a world that is constantly changing.
Facts / Tryg
- Second largest insurance company in the Nordic Region with operations in Denmark, Norway and Sweden.
- 1,100 employees and head office in Bergen.
World leader in automated claims processing
One in every four claims submitted to Tryg is now processed automatically. “Tryg is a world leader when it comes to automated claims processing,” says Tryg’s country manager for Norway, Espen Opedal.
Today, 25 per cent of the claims reported online for contents, travel or pet insurance pass right through the system. The goal is for 40 per cent of all claims to be processed and settled automatically by 2020.
Tryg is also in the process of phasing out the traditional paper-based accident reports for motor vehicles. Over 20 per cent of the accident reports now pass through a special web solution that also refers the customer to the nearest repair centre.
Opedal says that the automated systems will take care of the simple claims, so that their manpower can be used to process larger, more complex claims.