Reinsurer Hannover Re Seeks Disruptors for Global Collaborative Competition

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A unique international entrepreneurship competition with the aim to create new, innovative solutions that will redefine the insurance and reinsurance markets - the winners will walk away with up to $55,000!

Journey Re Reinsurance Competition

Journey Re

'Through this competition, we hope to introduce new talent to our industry and provide a creative environment for them to develop new and innovative approaches to the insurance and reinsurance industries,' says Peter Schaefer, President & CEO of Hannover.

In celebration of 50 successful years as a global reinsurer; Hannover Re announces a unique international entrepreneurship competition with the aim to create new, innovative solutions that will redefine the insurance and reinsurance markets. The Journey Re Reinsurance Reinvented Competition gives young professionals, graduates and students the opportunity to develop “the next big thing” in reinsurance. Throughout the competition, participants will gain valuable experience and have the opportunity to network with industry leaders, and the winners will walk away with up to $55,000.

The competition will take place across four innovation hubs worldwide: Boston, Berlin, Dublin and Johannesburg. It is open to anyone who believes they have the talent to create disruptive innovation for the sector. A free informational kick-off event will be held in Boston on Thursday, April 14, 2016. To register to attend the event and to learn more about the competition, visit http://www.journey-re.com.

Beginning in May, Journey Re will select 20 highly qualified registered candidates to participate in a two-day workshop vetting process. This process will include experts from Hannover Re and BearingPoint, a global business consulting firm, who will get to know the candidates through engaging group and individual challenges. At the conclusion, the Journey Re team will select six participants to advance in the competition. These selected young professionals will work in teams of three during a six month period starting in July 2016. Their goal is to develop cutting edge innovation and creative business models for the reinsurance industry. Participants will receive attractive compensation for the engagement and a dedicated workspace. Each team will travel to Hannover, Germany on two all-expense paid visits, once in July for an orientation, and once again in December for the final Journey Re competition. The winning team will receive €50,000, approximately $55,000 in prize money and the runner-up team will receive €20,000, approximately $25,000.

Peter Schaefer, President and CEO of Hannover Life Reassurance Company of America, the North American life and health reinsurance subsidiary of Hannover Re Group, says, “The industry is already working on effective ways to merge traditional and digital channels to offer clients integrated products and a seamless customer experience. Hannover Re launched this competition to further advance the industry down the path of innovation. Reinsurers play an important role in helping to ensure that direct carriers can meet the evolving risk management needs of their customers. Through this competition, we hope to introduce new talent to our industry and provide a creative environment for them to develop new and innovative approaches to the insurance and reinsurance industries.”

Ideal candidates will have an understanding of business and finance, a propensity for creative and innovative thinking, and an interest in the re/insurance industry. For more information on the Journey Re Reinsurance Reinvented Competition or the April 14th event in Boston, visit http://www.journey-re.com.

About Hannover Re
Hannover Re, with gross premium of around EUR 17 billion, is the third-largest reinsurer in the world. It transacts all lines of property & casualty and life & health reinsurance and is present on all continents with around 2,500 staff. Established in 1966, the Hannover Re Group today has a network of more than 100 subsidiaries, branches and representative offices worldwide. The Group's German business is written by the subsidiary E+S Rück. The rating agencies most relevant to the insurance industry have awarded Hannover Re very strong insurer financial strength ratings: Standard & Poor's AA- "Very Strong" and A.M. Best A+ "Superior". In 2016, Hannover Re celebrates its fiftieth anniversary.

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Angela Kahn
Hannover Re
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