Global law firm Clyde & Co has today announced a new partnership with Insurlab Germany, an initiative that connects the insurance and insurtech worlds with each other.
As an official legal partner, Clyde & Co will provide legal advice and support to the insurtech companies working with Insurlab to help them develop their products and services. This may include regulatory help or advice on other legal obligations they may have or may need to consider in the future.
Clyde & Co’s work with Insurlab also involves working closely with other corporate partners and members of the initiative, including AXA, Gothaer, Scor and Willis Towers Watson.
Henning Schaloske, Partner at Clyde & Co, says “Technology and new business models have already changed the way insurance is bought and sold. With innovation continuing apace and increased amounts of capital being deployed to bring new technologies to market, now is a very exciting time to be involved in the insurance sector. That's why we are looking forward to advising the extremely promising insurtech companies involved in the lab, combining our skills to drive innovation.”
Insurlab focuses on partnering corporate support, experience and international knowledge of the insurance industry with tech innovation. Clyde & Co will be working with a range of insurtech companies, which provide services ranging from the internet of things, e-health and big data, to e-payments and blockchain, in order to shape the future of the insurance industry.
This partnership is part of Clyde & Co's focus on technology and innovation, led by the firm's Innovation Board. In September the firm launched Clyde Code, an innovative new consultancy to advise insurers on all aspects of the burgeoning new area of smart contracts, blockchain and distributed ledger technologies. In July lawyers from the firm provided support to start-ups in Startupbootcamp InsurTech London's 2017 cohort.
Torsten Oletzky, Director of InsurLAB, says: "We are excited to have Clyde & Co on board as they are an excellent international law firm with a strong focus on the insurance industry and a dedication to the German market. Together with the other members, insurance groups, startups, management consultants, and law and technology firms, we will contribute to innovation and digitization in the insurance industry.”