KPMG Hackthon cy #insurtech

KPMG Hackthon cy #insurtech

Q & A with Pangratios P. Vanezis, Board Member, Fintech Partner and leader of KPMG Cyprus Enterprise & Startups team discussing KPMG Hackathon cy #insurtech 2.0 which will be taking place on 18-20 January 2019 at KPMG Offices.


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Why is KPMG organizing the 2nd KPMG hackathon cy #insurtech and what this marathon is aiming to?

Within the framework of the open platform crowdhackathon, KPMG in Cyprus, with the technological and operational support of the innovation company Crowdpolicy and with the active involvement of important economic and social stakeholders, organises on 18, 19 and 20 January 2019 the second marathon KPMG Hackathon cy #Insurtech at its premises in Nicosia. Young entrepreneurs, developers, analysts, designers, communication, marketing and customer service professionals, business advisors, insurance and financial executives, students and anyone else interested are invited to participate and contribute actively to the development of applications on innovative technologies that disrupt the insurance industry.

What is the result that would satisfy KPMG?

We want to facilitate the creation of opportunities for youth entrepreneurship, since through a marathon competition of this kind a new team or start-up business can emerged contributing in the future of our country's economy. Our ultimate goal is to further activate digital transformation, as well as further strengthen the technological capabilities of the insurance industry. In addition, the KPMG hackathon cy #insurtech aims to fully utilise the expertise and experience of developers, start-up businesses, teams and executives to create innovative applications.

How KPMG will help the participating (or awarded) teams?

It is important to note that experienced mentors associating with the insurance industry will be involved throughout the process. In particular, mentors will have a coaching, advisory and supportive role towards the participants. It is worth mentioning that the best pilot applications produced during the Hackathon will be awarded with monetary prizes (first prize €3000, second €2000 and third €1000). These selected applications will be further developed with the support of KPMG and the rest of the stakeholders involved. The most important for the participating teams, whether they are awarded or not, is that during Hackathon there will be
opportunities for networking. The messages coming from the stakeholders’ side are very encouraging, as their consultation’s agenda (taking place this month), demonstrates interest in the prospects for the solutions that will be created.

What is KPMG's contribution to the Cypriot business ecosystem?

KPMG in Cyprus, as a member of KPMG International, one of the world's largest audit, tax and advisory firms, has created and maintains a strong local presence in the cypriot business ecosystem, drawing expertise and information from the specialised sources the Firm has at international level. KPMG professionals are
constantly acting to ensure that KPMG provides broad-range, high-quality professional services tailored to the changing needs of its customers and markets. In today's disrupted business environment, businesses are constantly changing and growing. Therefore, it is necessary to cooperate with professional advisors who, not only have a global understanding of the client's needs, but also commit themselves to and wish to serve each client as an individual. By working side by side and at the same time with the customers, our professionals understand businesses’ future needs and assist them exploit future business opportunities. The quality of our services is a holistic and continuous commitment. We are constantly at the forefront of industry’s trends and developments, applying innovative practices and tailored solutions that respond to the current business environment and the challenges it generates to businesses.

How can someone contact KPMG and what services can be offered to a young entrepreneur?

KPMG’s Enterprise and Start-ups department is always open to help implement any innovative concept based on a structured design. Our advisory services act as a one-stop service providing flexibility, experience, expertise and customised training. We offer specially tailored solutions at discounted prices that can meet the specific needs of each start-up business. One can very easily communicate with us electronically or by telephone, arranging a first meeting to explore the prospects of a potential cooperation.

How about KPMG charging fee? Is it prohibitive for a hard-working young entrepreneur with an innovative idea?

Our fees are not at all prohibitive. They are drafted in line with market’s trends, taking into account the current economic framework that governs our time. It is important to mention that our Firm offers both the freemium model, a package of services offered at reduced prices, and the entrepreneurial hub, a tool for
supporting new businesses (legal, marketing, banking and networking with other related businesses and mentors). In any case, setting up a first introductory meeting will convince young entrepreneurs that collaboration with our experienced teams is possible, eventually encompassing only profit to them.


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