Startupbootcamp InsurTech Hackathon: Gamification in Insurance

What is gamification?

Gamification involves the use of game techniques and elements to influence the behaviors of individuals. The use cases are many and diverse, but most involve prizes and points, competition and/or teamwork and scorekeeping to motivate people to meet specific goals. 

Why is gamification important to insurance? 

Gamification is a useful practice to engage customers, establish or strengthen brands, educate and train customers and staff, and motivate people to act. Gamification has many customer facing applications, including encouraging customer engagement and improving insurers' relationships with their customers. In addition, it can facilitate customized risk assessment and pricing, and, internally, help insurers encourage boosting sales and service performance.

Benefits & Success Story

Very often, our corporate insurance partners continue to work with individuals and teams that solve their problem statements. Read about one of our hackathon success stories.

Who Are We?

Startupbootcamp InsurTech is the leading accelerator focused on disruptive and collaborative insurance innovation and connecting with startups who have unique propositions that meet the needs of the insurance market. We are located in the heart of London, and we have the support of a global community as well as some incredible corporate partners. 

Tasks

You will form a team at the start of the event. You will then work on one of the challenges provided by our corporate partners for 48 hours, and, finally, you will present in front of the judges. 

Challenges

Challenge 1 (Product Development)
Create a solution that would be able to improve customer behaviour/loyalty through gamification (i.e. driving score), and deduce an individual assessment in real time with this “connected” behavior.

Challenge 2 (Sales & Marketing)
Ideate new ways to engage customers through AR/ geo-location.

Challenge 3 (Sales & Marketing)
Gamify (using robo-advice) the quote process that allows the insurers to get the same amount of data, supports the clients whilst fully complying with consumer protection regulations in order to strengthen client management efforts and makes it interesting for the customers.

Challenge 4 (Underwriting & Risk Management)
Use gamification in the underwriting process to build a risk assessment user interface that is user friendly/structured and could identify potential fraud.

Challenge 5 (Claims)
Develop a robo-claim adjuster powered by AI (or smart device) to empathically advise the customer in the event of a car accident, simplifying the claims process, sharing information with other people in real time and increasing customer loyalty.

Challenge 6 (Servicing)
In a world where technology solutions are exploding, South Africa is relatively “new” to technology with many users not having access to affordable data or wifi.

Create a way to guide financial advisers to the most useful and efficient digital solutions to address their specific needs - removing confusion due to the options available to them and the lack of confidence when using technology. A guided digital approach can potentially help build trust and confidence with users.

 

What are the winning categories?

- Best Overall Concept

- Runner Up

- Best Technical solution

Prizes

- Best Overall Concept: £3,000 sponsored by SSP

- Runner Up: £2,000 sponsored by SSP

- Best Technical solution: £1,000 in Amazon vouchers

General Agenda

Details to be announced at a later date

Friday, 23rd June

5:30pm Arrival & Registration

6:30pm Welcome and Agenda

8:30pm Dinner

9:00pm Gamification Workshop with expert Andrzej Marczewski

Saturday, 24th June 

9:00am Breakfast served

1:00pm Lunch

7:00pm Dinner 

Sunday, 25th June 

9:00am Breakfast served

11:00am Test your pitch! 

12:00pm Lunch

2:00pm Coders self-assessment session

3:00pm Final Presentations

6:00pm END

Excited? We are too! Sign up before it's too late!

Want to tweet about it? Use #sbchack 

FAQs

Who can attend?

Anyone with an interest in our theme! This includes coders, designers, developers, mentors, and observers.

Can I attend if I haven't attended a Hackathon before?

Yes, you most certainly can. 

How big can a team be?

Teams can range from one team member to a maximum of 5 people. 

What will be provided?

• Wifi 

• Sockets

NOTE: We do NOT provide laptops or computers, so please bring your own and any associated chargers (Don't forget phone chargers too).

Who owns my project and IP?

The individual/group who develops the project is the owner of the project and IP.

Can I stay overnight?

Yes! Showers are also available. Please bring anything you need to make yourself comfortable. 

Do I need to bring breakfast/lunch/dinner? 

No! There will be plenty of food and drinks throughout the whole weekend. We've got this covered. 

But I have a specific dietary requirement...

Not to worry. We will try and accommodate everyone. However do contact: penny@startupbootcamp.org to let her know of your dietary requirements so we can organize accordingly. 

Can I start my project on the challenges beforehand?

No. To keep everything fair, all work must be performed during the Hackathon.

Where can I contact the organizer with any questions?

If you have any questions, please e-mail penny@startupbootcamp.org

Event Sponsors

£3,000 for first place and £2,000 for second place provided by SSP.

SSP is a global provider of technology systems and solutions across the entire insurance industry, using our expertise to enable our customers to transform their business and increase their profitability. SSP provides core technology solutions, distribution and trading capability, advanced analytics and solution delivery. Our unique position in the market, including the largest market share of UK e-trading, enables us to provide leading data insight and market access through our Keychoice distribution group. With over 30 years’ experience, our knowledge, talent and technology capabilities deliver innovative results that make us the partner of choice for our customers.

Startupbootcamp InsurTech's Partners

Global Partners

* Sources:

Insurance Journal

EY