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Insurance lab to launch in Toronto

By Andrew Rickard | November 24 2016 09:45AM

Photo: Freepik

Chris Murumets of LOGiQ3 and Sven Roehl of msg global solutions are launching Cookhouse Lab in Toronto. It will provide space for insurance experts and other people from the financial services industry to work together with entrepreneurs and academics to create new technology.

Professionals in the property and casualty, life insurance and reinsurance businesses will collaborate with other experts at the lab to combine concepts, build new prototypes, and fund new initiatives.

“Insurance is changing – particularly for insurance companies that are faced with the challenge of building a customer relationship beyond premium collection and claim adjudication,” says Murumets, who is the co-CEO of LOGiQ3. “We believe open collaboration and innovation will drive that change by helping us reimagine insurance products and how they are accessed and delivered.”

"It is a test kitchen in which insurers collaborate with each other and combine organizational knowledge with other ‘ingredients’ such as innovation experts, legal counsel, designers and entrepreneurs to create the customer experience of tomorrow,” adds Roehl, EVP and head of insurance innovation at msg.

Insurers and reinsurers are invited to send individuals or teams to Cookhouse Lab starting in February 2017. Those interested in learning more may send emails to [email protected] or [email protected]

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