Cookhouse Lab offers a collaborative, crowdsourced approach to InsurTech development
Toronto, ON (Nov. 21, 2016) – Cookhouse Lab, led by Chris Murumets of LOGiQ3 and Sven Roehl of msg global solutions, offers a space for collaboration and a methodology for professionals to use to create the technology consumers now demand. The Lab, located in downtown Toronto, welcomes P & C and life insurance and reinsurance experts, financial-services professionals, entrepreneurs and academics to collaborate on original ideas, combine concepts, build new prototypes, and fund new initiatives. One of the key components to this collaboration process is the idea of “The Expert Crowd,” a group of collaborators in the lab, working with global experts who virtually contribute to the lab through a defined process and technology platform.
“The world is changing,” said Murumets, Co-Founder and Co-CEO of LOGiQ3 Group. “Insurance is changing – particularly for insurance companies that are faced with the challenge of building a customer relationship beyond premium collection and claim adjudication. We believe open collaboration and innovation will drive that change by helping us reimagine insurance products and how they are accessed and delivered.”
Sven Roehl, EVP and head of Insurance Innovation for msg adds, “Cookhouse Lab gives insurers the creative place to think out of the box, invent and shape the future of insurance. 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.”
Insurers and reinsurers are invited to send individuals or teams to the Lab starting in February 2017. The Lab will develop customer-focused insurance technology through open collaboration, crowdsourcing and by combining insurer, reinsurer, investor and IT expertise.
About LOGiQ³ Group
The LOGiQ³ Group makes life simple, providing solutions that drive positive change while bringing clarity to complex problems. Our companies focus on solving problems for life insurers. LOGiQ³ Corp. specializes in underwriting, claims, and reinsurance administration. APEXA delivers an online application for advisor contracting and compliance. TAI, jointly owned by msg global solutions, is the US market leader in reinsurance systems with over 30 years of experience. Combined, the LOGiQ³ Group serves more than 300 companies globally. To learn more about LOGiQ³ Group, visit www.logiq3group.com.
About msg global solutions
msg global solutions is a product-based systems integrator that serves insurers and reinsurers in all lines of business, in all regions of the world. Our expert teams employ a complete selection of consulting services and software products to help large and mid-size clients succeed with a range of business and IT strategies, including digital transformation.
msg global solutions is part of msg group, an independent, international group of companies with autonomous regional companies and subsidiaries and well over 6,000 employees worldwide. msg offers a holistic service spectrum of creative, strategic consulting and intelligent, sustainable and value-added IT solutions, and has acquired an excellent reputation as an industry specialist during its more than 30 years in business. To learn more about msg global solutions, visit www.msg-global.com.
Source: LOGiQ³ Group