Innovate to prevent, assist and protect. In its role of preventive insurer BNP Paribas Cardif, one among the top ten insurance companies in Italy (1), is building tomorrow’s insurance on this new paradigm. In fact, thanks to innovative ideas and new generation policies, with predictive models and an ecosystem of partners, service providers and interconnected devices, the insurance industry can really develop models based on prevention, assistance and interaction with the customer, rather than on mere reimbursement.
It is therefore Preventive Insurance the main theme of Open-F@b Call4Ideas 2017, the international contest promoted by BNP Paribas Cardif, in collaboration with InsuranceUp.it, the first portal in Italy dedicated to digital innovation and entrepreneurship in the insurance sector. This year, the competition will also feature the collaboration of Openup, the digital platform developed by BNP Paribas Group which connects startuppers and Group employees, and Medici, the strategic consulting platform for innovation in Fintech powered by the largest network of startups in the industry, with about 8,000 registered.
The theme of Preventive Insurance, which offers benefits to customers and companies, is up to date. Furthermore, in its application technology will have a growing weight over the next few years, as shown by the results of the PwC report on “Connected Insurance”. The estimated sales of Wearable devices related to healthcare in 2019 will reach 245 million units, tripling 2015 figure. In the Smart Home field, the number of domestic smart devices will yearly grow +50% until 2019, by reaching between 500 and 700 million units in 2020. As far as mobility is concerned, the Italian market is one of the most mature on the front of cars connected. Nevertheless, in the period 2017-2022 a further annual growth in revenue of 24% is expected.
This edition of Open-F@b Call4Ideas, launched for the first time in 2014 to identify the best technological and digital startups and build collaboration paths together, will then award the three best ideas that can be realized in solutions of prevention, security and wellness for the new customers, with a particular focus on health, family, home and mobility. Startups, technology providers, professionals, developers, students etc. with innovative proposals have time until October 23rd, 2017 to submit their own projects. Projects should particularly deal with predictive models that allow preventive analysis to anticipate events, or with digital platforms, related objects or services designed to prevent or mitigate the risks.
The inventors of the most creative ideas, selected by a Committee composed by executives of BNP Paribas Group and BNP Paribas Cardif, by academic professionals in the digital technologies area and by experts, will be supported by the BNP Paribas Cardif R&D team which will help them to develop the idea, taking into account the needs of the market and of the Company. All finalists will present their proposals during the day of the final public event where the 3 most innovative ideas will be awarded by the Evaluation Committee. The winners will then be supported by the Company in the development and in the realization of their project. With the fourth edition of Open-F@B Call4Ideas the investments planned in 4 years, distributed among the winning projects, raise the amount of 400.000€.
Moreover, all finalists will be included in the MEDICI database, will benefit of marketing and visibility services for an amount equivalent to € 1,500.00 and their project will be presented to C Entrepreneurs fund, the Bnp Paribas Cardif Venture Capital Fund.
Participation proposals must be submitted within October 23rd, 2017 through the registration form
The presentation video is also available on the BNP Paribas Cardif Italy youtube channel
(1) ANIA Ranking 2016