By Phil Froklage
WATERLOO — Insurance Disrupted was part of a two-day focus on insurance technology, which kicked off with Monday’s launch of FairVentures: Fairfax Financial Holdings’ innovation lab in the Communitech Hub. Fairfax is the latest large company to dock with Communitech’s corporate innovation program, joining General Motors, Thomson Reuters, TD Bank Group, Canon, Manulife and Deloitte.
Insurance industry leaders, high-potential startups and enterprise companies rubbed elbows and discussed the ideas and innovations bringing the 150-year-old industry into the 21st century – whether it’s ready or not.
For attendees, the breadth of the discussion was a huge part of the value.
George Tsintzouras, President and co-founder of Waterloo-based Alert Labs Inc., described it as “a perfect example of the value of Communitech to growing businesses like Alert Labs.” His company is an IoT startup deploying a sensor network in North America.
“In only a few hours,” Tsintzouras continued, “we had face-to-face access to senior members of multiple insurance companies where we were able to demonstrate our product’s value. This single event has the potential to significantly accelerate our business growth by building long-term relationships with key industry innovators.”