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Journey Re Reinsurance Competition is looking for disruptive entrepreneurs

The Journey Re Reinsurance Competition is looking for talented entrepreneurs in the reinsurance market. The competition is open to anyone, but will specifically address young professionals, new graduates, and students.

Starting in July, it will take place in Johannesburg, Boston, Dublin, and Berlin over the course of a six-month period.

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Teams will be competing for a €50 000 prize with the runner-up receiving €20 000. Participants will also receive additional benefits, such as a dedicated working space in one of the mentioned cities. Those selected will spend a week in Hannover, Germany, from 4-8 July as an introduction to the sector.

“As far as we know, this is the first initiative to create a hub for reinsurance innovation on a global scale. It is an impressive opportunity to shape an entire industry. Disruptive innovation is fast changing how a very traditional sector has worked,” says CEO of Hannover Re, Achim Klennert.

Read more: Beyond insurance: How TopCheck aims to transform Nigeria’s financial services industry

Klennert states there are new risk types constantly emerging, from natural catastrophes to cyber crime.

According to the World Insurance Report 2015, 78% of interviewed executives say big data analytics will have the largest impact on the insurance industry. There will be a flood of disruptors who will have the potential to challenge the reinsurance industry unless companies are prepared for them.

Ideal candidates must have a strong sense of business and finance, be an out of the box thinker, and be interested in reshaping the re/insurance industry.

Those looking for more information can visit the Journey Re website.

Image by GotCredit via Flickr.

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