Toronto, Canada, April 21, 2022 — msg global solution’s Cookhouse Labs, a global leader in InsurTech collaboration, co-creation, and innovation, announced that its infamous SummerHack will return for the 3rd year in a row.
For the past 5 years, Cookhouse Labs has worked diligently to create a community of insurance, reinsurance, brokers, startups, vendors, and academia from around the globe to co-create and develop solutions to tackle current and future challenges of the insurance industry. As part of this mission, the innovation hub frequently hosts wide-scale ideathons and co-creation projects, such as SummerHack, StudentHack (in collaboration with the Insurance Institute of Canada), and student bootcamps in partnership with local and international universities.
“SummerHack gives insurers around the world an opportunity to play in our innovation sandbox for 2 days. The atmosphere is always full of high energy and creativity, and by the end of this event, everyone walks away feeling inspired and proud of the real business solutions they created in such a short time,” said Sven Roehl, Co-Founder of Cookhouse Labs and Head of Innovation at msg global solutions.
Among some of the exciting and creative solutions that result from these events is a Smart tooth that aims to lower health insurance premiums, an insurance awareness campaign that leverages everyday bread purchases, and an insurance product for those in the gig economy (such as ride-share drivers).
This year’s theme centers on “Artificial Intelligence in Insurance” — a nod towards the powerful technology that is transforming areas across the global insurance industry and helping insurers make meaningful changes to elevate their customer experience. With the potential to improve efficiency, reduce costs, and predict customer needs well in advance, there are plenty of applications and ideas expected out of this year’s competitive event.
Over 100 global participants typically race against the clock in these ideathons to claim the winner title, determined by a jury panel of esteemed industry leaders from top organizations, such as AXA, SCOR, and HSBC. The event is held in 3 different time zones to welcome participants from the Americas, EMEA, and APAC, adding an especially global dimension to this fast-paced competition.
“These types of events generate new ideas that have legs to stand on. Hackathons, innovation labs, and incubators created a dedicated space to foster and promote these ideas, which can then be pitched to those working in sectors in need of disruption. Alone, you may not have the support you need to develop your idea, but these types of events help creative and diverse ideas move forward,” Manisha Dias, Vice President – Strategic Partnerships, SCOR (During an interview about her experience as a SummerHack judge).
Participants of this year’s SummerHack can expect another action-packed event, complete with brand-new challenges inspired by the Artificial Intelligence theme and fantastic prizes for the top teams!
For media, partnership, or collaboration enquires, contact Insiya Meherally, Community Manager at Insiya.Meherally@cookhouselabs.com.
To find out more about Cookhouse Labs and how you can get involved in this year’s competition, click here.
About Cookhouse Labs
Inspired by a test kitchen, Cookhouse Labs is a collaborative space for innovative chefs, Tastemakers , and taste-testers to create recipes, infuse flavours, and experiment beyond boundaries. Our community of insurance innovators and insurtech experts is the key ingredient in the ideation process, empowering and integrating a global collection of ideas with Design Thinking to serve innovation in the insurance industry, based on a paid membership model. To learn more about Cookhouse Labs, visit: www.cookhouselabs.com.
About msg global solutions
msg global solutions is a systems integrator, software development partner, and managed services provider focused on SAP solutions for multiple industries. Our services include strategies for accounting, finance, regulatory reporting, performance management, sustainability, customer experience, and IoT. Operating from offices across the globe and growing, our expert teams help clients achieve operational efficiency and improve decision-making capabilities. While our journey started in the financial services sector, our solutions are utilized in a wide range of industries. We’re part of msg, an independent, international group of companies with more than 9,000 employees around the world. These companies offer a broad spectrum of creative, strategic consulting and intelligent, sustainable services, and value-added IT solutions. To learn more about msg global solutions, visit: www.msg-global.com
