Live your dream and believe in your success!

Erika Krizsan Founder of INSURANCE FACTORY in interview about the MOI – THE MAGIC OF INNOVATION Event in Vienna

Please introduce yourself to our readers! Please tell us about your business?
Why? I like insurance! I knew, already when I was 13 years old. I will work in an insurance company. I started in Hungary at Generali. After that I started at the ERGO Group in Vienna. I worked more than 20 years in different positions, national and international in the insurance industry. My bosses knew, I wanted to learn a lot and I got the opportunity to do this. I managed and organised small- and big projects, established new companies in different CEE countries. Ones I woke up and I wanted to start my own company – it was born – INSURANCE FACTORY! I learned a lot from the best innovators from the world and from the most motivated startups!

Yes, 5 years ago, I had the crazy idea, to support the insurance industry in innovation & creativity. At that time, everybody said: “Mrs. Krizsan, Innovation in the insurance industry? We don`t need it! We have our business model already for more than 200 years and it hasn`t changed”

However I developed training methods and concepts to motivate and support the development of insurance managers mindset to the digital transformation. I organised Innovation trainings methods via Design Thinking, Business Model Innovation, EDISON Principle and some lovely co-creation training with startups and students. I have organised Innovation Talk in Vienna every 3 months and since 2015 the Insurance Innovation Day (with Award Ceremony).

This year 2017 is a very special year, because Insurance Factory will celebrate it`s 5th anniversary with friends, colleagues, startups, investors and insurance executives at the Insurance Innovation Day 2017. The event will be international for the first time with speakers from more than 9 countries – e.g USA, England, Switzerland, Germany, Croatia, Hungary, Italy, Belgium, Netherlands and of course from Austria! It will be a MAGIC, because the Event is THE MAGIC OF INNOVATION!

And for the first time, we will have an amazing INSURY Startup Award with Pitchings Session in Vienna

I had the vision to build a new insurance community in Vienna (like in Berlin, London and Zürich!) with insurers, brokers, investors, startups and all future-oriented managers. Let`s innovate the insurance industry!Can you describe your typical workday?
Erika Krizsan: I don`t have a typical workday!
I have only unusual workdays with many creative ideas to support the insurance industry, to co-create with startups and students, meetings with crazy and motivated people to change and save the world (at least the insurance world!)
I don`t like to wake up early in the morning! My meetings begin normally after 9 a.m! But I`m working till late in the evening.
Of course after meetings, trainings, events, insurance talk and networking, I have always time to speak (better say: to skype) with my lovely niece – Maya! Because she is living in Hungary.

You are an advisory board of the INSURY Startup Award. What is your motivation to do it?
Erika Krizsan: Yes, The INSURY Startup Award is a vision from me, to support startups to collaborate with the insurance industry and for the insurance industry to show the possibilities from the digital world. You know, insurance managers don`t have enough time to learn everything in real time in this quick changing world – a lot of operational activities – and I want to give the possibilities to learn from each other, to be open to the digital world. They should see these challenges as a chance and opportunity for the next generation with my motto: “the way to create your innovative insurance”

The application is closed, we received 28 applications with very innovative ideas in 5 categories from more than 10 countries:

TECHNOLOGY / Blockchain, Chatbot, AR, AI, IoT etc

The advisory board will decide by the end of Jun. 2017, who are the nominated Startups to pitch on 20th of September in Vienna.

What do you mean: How has the startup scene changed in the last few years and what were the biggest mistakes by the startup founders?
Erika Krizsan: I think, startups are a very important part in the ecosystem in the world. The motivation from these young people is fascinating, how they are working on their own dream, to create something new, to use new technologies.

I wanted to give them the possibilities with the Insury Startup Award to come to Vienna, to introduce their ideas and to work with insurance companies. It´s sometimes difficult to get an appointment with an insurance executive and to explain, why this solution is an interesting solution to reduce cost for the company and increase efficiency for insurance company. Vienna it will be a “playground” for startups, insurance executives, brokers and investors to innovate, to pitch, to learn and to network with the international insurance scene on 20-21.09.2017.

Which books do you read?
Erika Krizsan: I read many books regarding innovation and/or insurance! E.g. Christoph Keese Silicon Valley – because it was a big dream of mine to organise a Silicon Valley study tour for insurance managers. This year, 2 insurance companies (with 10-15 managers) decided to join this amazing tour innovation outpost, co-working space, techshops, venture capitalists, accelerator & startups, university and think tanks, to learn: What is the secret of Silicon Valley? What can we learn in Europe from this ecosystem?

And of course I`m reading my own book : Innovationsdruck in der Versicherungsbranche I prepared with 10 insurance CEO`s to show the current status in the insurance industry. And a big surprise I did an interview with a famous Austrian soccer player – Tony Polser! (as motivation for men to read my book!)

Where do you see yourself in five years?
Erika Krizsan: I hope, Vienna will be an established capital for the insurance industry with insurtechs in the heart of Europe within 5 years. And I also hope I`ll need the biggest location in Vienna to organise the Insurance Innovation Day with Insury Startup Award!

What 3 tips would you give to startup founders?
– Live your dream and believe in your success!
– Never give up!
– And of course join our Insurance Innovation Day with Pitching session in Vienna at 20-21.09.2017

More information you will find here

Thank you Erika Krizsan for the Interview


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