PA financial services expert, Martin Tillisch, is quoted in an article in Børsen about innovation in the insurance sector. Danish insurance company Tryg is establishing a new innovation camp with 300 entrepreneurs who will develop new solutions that are integrated with the organisation’s existing solutions. Tryg’s ambition to disrupt its own core business and to create new and innovative collaborations is quite dramatic, according to Martin.
“Tryg’s strategy shows a strong will to do things in a radically different way. This is positive because insurance companies need to look at things from a new perspective. The insurance sector is an obvious target for new players in the market and is also quite vulnerable, as parts of the companies’ current role may be replaced by new technologies,” says Martin.
According to Martin, Tryg has identified a strong model to gain access to new ideas and technologies: “To keep the entrepreneurs in-house is a sustainable strategy that enables Tryg to develop ideas that can be integrated with the core company.”