Insurance Management

Finance & Acounting 1 | Lecture/Practical (IL) | Coursecode: 200752106

International GAAP

3.00

ECTS

2.00

SWS

During this course students acquire a solid understanding of balance sheets and income and cash flow statements that are prepared in line with international accounting standards such as IFRS/US GAAP. Special attention is given to the connection between the various parts of a company's financial accounts. The second part of the course focuses on the reporting for banks and insurance companies. The core contents of this course include: [1] Financial reporting principles; international accounting standards [2] Structure of financial reports [3] Key financial reporting items [4] Connection between B/S, P/L and CF statements [5] Structure of bank/insurer reports [6] IFRS standards with particular relevance in the banking/insurance sector (IFRS 4, 7, 9 and IAS 32, 39, as of 10/2013). [7] Case study: analysing financial reports. This course may be taught in English.

Finance & Acounting 1 | Lecture/Practical (IL) | Coursecode: 200752107

Quantitative principles of risk management

4.00

ECTS

2.00

SWS

The course is designed to teach quantitative methods, which we build on in further courses. Stochastic basic concepts will be introduced and the advantages and problems of selected stochastic methods (normal distribution, value at risk etc.) in practical use will be shown. The focus is on the application of stochastic methods. The core contents include: [1] Random variables and risk; distribution and density; moments of a distribution [2] Properties of the expected value and variance [3] normal distribution: central limit theorem, properties, standardization of random variables [4] Risk measures: volatility, value at risk; expected shortfall [5] Non-symmetric or heavy-tailed distributions [6] Aggregation of independent risks: e.g. individual risk model in a non-life insurance application, calculation of portfolio moments [7] Random vectors; stochastic dependence; correlations; Copulas concept [8] Empirical data analysis (possibly supported by software); …

International Financial System and Monetary Policy | Lecture (VO) | Coursecode: 200752103

Consumer, investor and creditor protection

3.00

ECTS

2.00

SWS

The LV discusses the applicable rules and laws regarding consumer, investor and creditor protection in the financial and insurance sectors. In particular, students are sensitized to the effects on the business activities of banks and insurance companies. The core contents include: [1] Overview of the legal framework of consumer, investor and creditor protection in relation to banking and insurance transactions [2] Relevant content from EU directives: e.g. currently the Consumer Credit Directive, Distance Financial Services Directive [3] Relevant content from national laws: e.g. currently the Banking Act BWG, Consumer Credit Act VKrG, Insurance Supervision Act VAG, Insurance Contract Act VVG, Consumer Protection Act KSchG, Distance Financial Services Act FernFinG, Brokers Act [4] Duty to provide advice and information; ombudsman service; claims for damages [5] Basic principles of insolvency law; …

International Financial System and Monetary Policy | Lecture (VO) | Coursecode: 200752102

Financial market regulation and monetary policy

5.00

ECTS

3.00

SWS

The course gives students an understanding of regulatory measures in the financial system and presents an overview of current developments in the EU. The course is designed to convey the central building blocks of monetary theory and monetary policy with a focus on the European Economic Area. Theoretical concepts are illustrated by past or current examples. The core contents include: [1] Objectives of financial market regulation; regulation theory [2] International regulatory systems: comparison, national and supranational rules and general financial market regulation in the EU [3] Banking regulation practice in the EU (currently Basel II/III), insurance regulation in the EU (currently Solvency II) and financial markets in the EU [4] Market supervision: objectives, tasks, fields of activity, institutions (including the FMA), sanctions [5] European supervisory architecture: Joint Committee, EIOPA, EBA, ESMA…

International Financial System and Monetary Policy | Lecture (VO) | Coursecode: 200752101

International Financial System

4.00

ECTS

2.00

SWS

The LV presents the various financial markets and highlights the role of individual financial market participants. In addition, students are provided with a broader understanding of information processing, risk and interest rates on markets. Common financial instruments are deepened and treated with a focus on practical aspects. The core contents should include [1] Financial markets and the role of financial market participants (especially banks and insurance companies) [2] liquidity and market efficiency; arbitrage [3] risk and interest rates; yield curve; central banks [4] Financial markets: fixed income, equity [5] FX markets [6] derivatives: forwards, futures, swaps, options. Optional contents may include: [7] market cycles and financial crises [8] trading; clearing and settlement

Marketing and Sales | Lecture/Practical (IL) | Coursecode: 200752109

CRM, market and customer analysis in the financial sector

3.00

ECTS

2.00

SWS

The market and customer analysis forms an essential basis for the customer-oriented strategic orientation in the financial sector. The LV presents methods of market and customer analysis and discusses their application on the one hand (a) in the development of new markets or new customers, and on the other hand (b) as a competitive advantage in the field of customer relationship management and customer retention. The core contents should include [1] General customer theory: Typification and segmentation of customers, identification of customer needs, analysis of the need for risk protection, etc; [2] Qualitative and quantitative-statistical methods of market and customer analysis [3] Analysis of new customers or new markets: Market and customer analysis to support sales projects such as market entry, development of customer groups or segments, life cycle models [4] Analysis of existing customers: Customer clustering, CRM to increase the cross-selling rate, …

Marketing and Sales | Lecture/Practical (IL) | Coursecode: 200752108

Customer Journey Management

3.00

ECTS

2.00

SWS

The course provides a modern customer-oriented understanding of the marketing of financial services and products in the digital age. The core contents include: [1] Customer Experience Management [2] Process-oriented measurement of the customer experience [3] Customer journey phases [4] Touchpoint identification, generation and management [5] Customer journey models (e.g. AIDA, Moments of Truth, vocals) [6] Customer Journey Mapping

Personal Sklls 1 | Project Thesis (PA) | Coursecode: 200752105

Agile Project Management

3.00

ECTS

2.00

SWS

The LV teaches the role and modern techniques of agile project management. Working in a team is in the foreground, general competences in the areas of communication, decision making in a team and problem solving are developed further in the context of project work. The core contents include: [1] Basic introduction to agile project management [2] Life cycle of an agile project compared to classical project management [3] Kanban [4] Toyota Production System and the meaning of a task board [5] Scrum process [6] Possibilities for prioritization and estimation, Sprint Review [7] The individual roles in Scrum [8] Lean Startup Method

Personal Sklls 1 | Practical (UE) | Coursecode: 200752104

Personal Skills and Communication in Sales

2.00

ECTS

2.00

SWS

This course develops the individual methodical and personal skills of the participants. The students develop their respective portfolio of competencies and discuss communication techniques and their application in practice. The core contents of this course include: [1] Personal skills; development of students' portfolios of competencies [2] Theory of communication techniques; practical application [3] Communication training (small groups), simulation of situations from the bank and insurance sector (e.g. sales meetings, product presentations). Optional contents can include: [4] Alternative/creative presentation techniques.

Finance & Accounting 2 | Lecture/Practical (IL) | Coursecode: 200752205

Analysis of Financial Reports

3.00

ECTS

2.00

SWS

In this course students are equipped with a structural understanding of financial reports. The focus is set on the relative analysis of corporate performance and value, based on publicly availble accounting information and comparables. A distinction is made between the financial sector and other industries. The core contents of the course include: [1] Analysis of financial reports; qualitative business analysis [2] Comparability of financial reports [3] EBITDA [4] Key indicators for non-financial companies [5] Key indicators for financial companies [6] Case study: comparative business analysis. Optional contents include: [7] Valuation by multiples [8] DCF valuation. This course may be taught in English.

Finance & Accounting 2 | Lecture/Practical (IL) | Coursecode: 200752206

Asset Management

3.00

ECTS

2.00

SWS

This course offers a detailed discussion of results of classical portfolio theory and their extensions. Risk and performance measures are discussed, as well as investment and long-term saving decision-making. The core contents of this course include: [1] Decision making under uncertainty; utility theory [2] Markowitz portfolio theory [3] CAPM and its extensions [4] Risk-adjusted performance measures [5] Passive vs. active portfolio management: index tracking, constant mix, CPP [6] Life cycle investment theory. Optional contents can include: [6] Stochastic dependence and portfolio optimisation; correlation vs. dependence; copulas. This course may be taught in English.

Innovation management and corporate strategy | Lecture/Practical (IL) | Coursecode: 200752202

Entrepreneurship and Business Models

3.00

ECTS

2.00

SWS

This course offers an introduction to leadership within corporations and business models. Methods to evaluate existing business models are discussed, as well as structured approaches to business innovation. Case studies illustrate methods of finding innovative solutions and the design of business plans. The core contents of this course include: [1] Methods of strategic management: definition of visions, missions and goals, SWOT analysis etc. [2] Analysis of demand/supply, business environment and trends; [3] Entrepreneurship as a process: idea generation, evaluation, implementation; [4] Creative generation and evaluation of ideas; methods of structuring and evaluating ideas in the business context; [5] Innovation management in corporations; [6] Design and evaluation of business plans; [7] Diversified businesses: evaluation of pros/cons and synergies; Optional contents can contain: [8] Opportunities of and limits to corporate growth; …

Innovation management and corporate strategy | Lecture/Practical (IL) | Coursecode: 200752201

Innovationsmanagement

3.00

ECTS

2.00

SWS

The course aims to provide an understanding of sustainable innovation processes that goes beyond individual product, service or process innovations. The core contents include: [1] Dimensions of the concept of innovation and basics of innovation management [2] Transition management and innovation systems [3] Sustainable Innovation [4] Open Innovation [5] Control of innovations [6] Corporate culture vs. innovation culture [7] Potential resistance to innovation [8] Innovations as a management task

Process & project management | Lecture/Practical (IL) | Coursecode: 200752204

Information and Data Management

3.00

ECTS

2.00

SWS

Building on the previous courses of this module, this course discusses the role of information and data management in banking/insurance. A focus is hereby set on administration, data protection and IT requirements. It is a particular feature of the banking/insurance sector that structured data management and analysis is fundamental to designing and pricing products, and selecting appropriate distribution channels. The core contents of this course include: [1] Overview of information and data management [2] Administrative and strategic tasks in information management [3] Methods of strategic information management [4] Data protection [5] Information management in banking/insurance [6] Current developments in banking/insurance IT solutions [7] Data analysis for product design and pricing. Optional contents can include: [8] SAP applied in banking/insurance [9] Basics of data base design.

Process & project management | Lecture/Practical (IL) | Coursecode: 200752203

Process management and digitization of business processes

3.00

ECTS

2.00

SWS

This course introduces process-oriented thinking during business routines, and focuses on process classes specific to the bank and insurance industry. Quality management and optimisation of processes are a key topic. The core contents of this course include: [1] Definition and role of business processes [2] Process-oriented thinking; modelling of processes; process landscape [3] Documentation of business processes; importance of knowledge management within a corporation [4] Typical business processes in banking [5] Typical business processes in insurance [6] Internal quality management in banking/insurance; competitive advantage through QM [7] Six Sigma system [8] Methods for the digitization of business processes

Insurance Management 1 | Lecture/Practical (IL) | Coursecode: 200752214

Reinsurance and Alternative Risk Transfer

2.00

ECTS

1.00

SWS

This course discusses reinsurance as a key instrument to manage risk and capital in insurance companies. Specific examples of the application of reinsurance of direct insurers are given, and some attention is given to insuring natural catastrophes. This course can be seen as supplement to the risk and capital management course. Finally, insurance linked securities are presented as instruments allowing to trade insurance risk in the capital markets. The core contents of this course include: [1] Product classes in reinsurance; impact on the direct insurer's risk profile; [2] Reinsurance market; counter-party risk in reinsurance [3] Natural catastrophes (NATCAT): overview, risk models, pricing basics [4] Relationship direct insurer vs. reinsurer (incl.exchange of data) [5] Accounting of reinsurance contracts; effect on capital requirements (e.g. Solvency II) [6] Alternative risk transfer: securitisation of insurance risk (incl. structuring costs); …

Insurance Management 1 | Lecture/Practical (IL) | Coursecode: 200752215

Risk and Capital Management in Insurance Companies

3.00

ECTS

2.00

SWS

This course deepens the understanding of risk management as a central driver of success of insurance companies. The connection between risk and return in the insurer's core business is established and the impact of regulation is discussed in detail. In a case study, students construct a model to compute the capital requirements of an insurance company, which will allow them to test the impact of various risk/return factors on financial results. The core contents of this course include: [1] Types of risk in insurance [2] Financial reporting, supervisory and regulatory requirements [3] Connection between portfolio risk and capital requirements [4] Detailed discussion of regulatory regimes (e.g. Solvency II) [5] Design and implementation of a risk-based capital model (e.g. Solvency II) [6] Risk and capital budgeting in insurance companies. Optional contents can include: [8] Control of operational and other risks …

Insurance product management | Lecture/Practical (IL) | Coursecode: 200752213

Product management in asset insurance

1.50

ECTS

1.00

SWS

The LV provides an understanding of product design and the basics of premium calculation in property insurance. The core contents include: [1] Motor vehicle liability insurance [2] Public liability insurance and product liability [3] Special cover for certain professional groups [4] Legal expenses insurance [5] Business interruption insurance [6] Credit insurance [7] Premium calculation; demand premium, costs, risk surcharge, multi-year premium calculation [8] Treatment of major losses, accumulation losses; contractual aspects [9] Modern actuarial concepts: e.g. credibility approach, clustering, multivariate analyses, neural networks [10] Risk-adequate pricing as an economic management tool.

Insurance product management | Lecture/Practical (IL) | Coursecode: 200752211

Product management in personal insurance

4.00

ECTS

3.00

SWS

The LV gives an overview of the main products of personal insurance and their calculation. Against the background of new framework conditions, a lot of space is given to product development. Above all, the focus is to be on the relationship between product features and risk or capital requirements, and thus an economic perspective. The core contents comprise: [1] Life insurance products: classic life insurance (endowment vs. death); unit-linked and index-linked insurance; modern variants of classic life insurance (e.g. combinations with unit-linked and index-linked products) [2] health insurance products: Adverse selection problem and deductibles (signalling); product variants of health insurance [3] Accident insurance products and pricing [4] Product development process (sales, actuarial office, back-office) Case studies [5] Product calculation based on individual characteristics. Optional contents may include: [6] Valuation of options …

Insurance product management | Lecture/Practical (IL) | Coursecode: 200752212

Product management in property insurance

1.50

ECTS

1.00

SWS

The LV provides an understanding of product design and the basics of premium calculation in property insurance. The core contents include: [1] Property insurance products, in particular fire, storm, burglary, tap water, transport, motor vehicle insurance [2] Contract construction: understanding of bonus-malus systems; effect of deductibles; limits; motivation of self-insurance/self-protection [3] Premium calculation; demand premium, costs, risk surcharge, multi-year premium calculation [4] Calculation for product bundling, cross-selling, overall customer, participation of sales in product success [5] Treatment of major losses, accumulation losses; contractual aspects [6] Modern actuarial concepts: e.g. credibility approach, clustering, multivariate analyses, neural networks [7] Risk-adequate pricing as an economic control instrument.

Leadership and Management 1 | Lecture/Practical (IL) | Coursecode: 200752303

Change Management

3.00

ECTS

2.00

SWS

Innovation is key to sustained corporate success. This course discusses the management and control of the implementation of changes, also dealing with aspects of communication and conflict management. Theoretical concepts are illustrated by examples from practice and case studies. The core contents of this course include: [1] Typical settings that lead to change: e.g. technical innovations, scarcity of time and money, rise in systemic complexity, globalisation [2] Coaching and development of employees [3] Development of corporate structures; process-oriented controlling; filling of key positions; management by objectives [4] Communication during stages of change [5] Conflict management; addressing resistance [6] Organisational adaptations post mergers and acquisitions. Optional contents can include: [7] Managing changes in the corporate culture [8] Selection and commitment of external consultants [9] Case studies: change management.

Leadership and Management 1 | Lecture (VO) | Coursecode: 200752302

Corporate Governance & Compliance

3.00

ECTS

2.00

SWS

The LV discusses compliance with laws, regulatory requirements, codes of conduct, best practice standards and voluntarily followed guidelines in a company, with a focus on the banking respectively insurance sector. The course will also discuss the implementation of compliance management and illustrate it with practical examples, and will raise awareness of corporate governance in general, with special emphasis on the rules for good and sustainable corporate management and control in Austria. The core contents include: [1] Basics and scope: laws, guidelines, regulation, codes of conduct [2] Practical implementation in the company; compliance management systems; implementation challenges [3] Standard Compliance Code of the Austrian Banking Industry (WKO) and the Austrian Insurance Industry (WKO) [4] Compliance Codes in international comparison [5] Austrian Corporate Governance Codex [6] OECD Principles of Corporate Governance; …

Personal Skills 2 | Practical (UE) | Coursecode: 200752301

Leadership and Motivation

2.00

ECTS

2.00

SWS

This course focuses on methods of effective leadership and team motivation. A general introduction is followed by considerations specific to team leadership in a professional setting. The core contents of this course include: [1] Leadership methods [2] Motivational techniques [3] Alignment of interest; incentive schemes [4] Work-life balance. Optional contents can include: [5] Role plays, e.g. performance reviews; students shall receive feedback on their performance during simulations [6] Further development of students' portfolios of competencies.

Research Seminar | Seminar (SE) | Coursecode: 200752304

Qualititative Research Methods

2.00

ECTS

2.00

SWS

The course provides the basis for structuring and writing texts according to internationally established scientific standards. The seminar sets standards for writing project and seminar papers in subsequent courses. In addition, qualitative research techniques, such as interviews or questionnaires, are presented. The core contents include: [1] Source search [2] requirements for scientific texts; references, rules of citation [3] Scientific formulation of questions and structuring of scientific texts [4] Qualitative techniques in scientific work: e.g. linking several sources, defining hypotheses, constructing and evaluating a questionnaire, designing, conducting and documenting qualified interviews, etc [5] Qualitative research methods (focus groups, interviews and their evaluation or systematic analysis)

Research Seminar | Seminar (SE) | Coursecode: 200752305

Quantitative Research Methods

3.00

ECTS

2.00

SWS

This course introduces quantitative methods for the production of research work in banking and insurance. These methods can, for example, be applied when subsequently completing the master thesis. Students will propose the topic and structure of their master thesis, the results have a major impact on the course grade. This shall encourage students to deal with the topic of their master thesis at an early stage, which in turn supports the efficient and timely actual production of the master thesis in the 4th semester. The core contents of this course include: [1] Collection, management and analysis of data [2] Descriptive statistical data analysis [3] Hypothesis testing [4] Regression analysis [5] Proposing the structure of the master thesis in form of a term paper. Optional contents can include: [6] Introduction to time series analysis.

Business Model in the insurance industry | Lecture/Practical (IL) | Coursecode: 200752314

Innovative business models in personal insurance

3.00

ECTS

2.00

SWS

Occupational and private provision is becoming increasingly important in Austria, which results in additional market potential for insurance companies in the area of personal insurance. This course will go into this important branch in more detail. In addition to the general conditions, business models of concrete products will be discussed. The core contents should include [1] General conditions for life/health/accident/provision products in Austria; legal and fiscal conditions [2] General conditions for occupational health insurance and pension products in Austria; legal and tax framework [3] Products and business models: sales and risk strategy; product classes: safeguarding the future, direct benefit commitments, company group insurance, pension funds, employee provision funds, group health insurance [4] Special features in the sale of company health insurance and pension products; key account management; …

Business Model in the insurance industry | Lecture/Practical (IL) | Coursecode: 200752315

Innovative business models in property and asset insurance

3.00

ECTS

2.00

SWS

On the one hand the theoretical component of business models and corporate strategy in the property and asset insurance sector is explained. On the other hand, the theory is illustrated by practical examples which are reflected and discussed by the students. The core contents should comprise: [1] General conditions for property and wealth insurance products in Austria [2] Business models: risk and distribution strategy [3] Differences in sales to private/commercial customers [4] Adaptation/redesign of business models in response to changed conditions [5] Case studies on innovative business models of composite insurers, single-line or specialty insurers, direct insurers. Optional contents may include: [6] Claims and benefit management in property and asset insurance [7] Detection of insurance fraud and countermeasures; yield-related aspects …

Insurance Management 2 | Lecture/Practical (IL) | Coursecode: 200752311

Actuarial Topics and ALM in Insurance

3.00

ECTS

2.00

SWS

In this course the scope of activities of actuaries is examined. This is done by discussing actuarial topics which are related to the pricing of and reserving for insurance products, or risk and capital management. A particular focus is set on current topics and trends. A discussion of the challenges and opportunities in an insurance company's asset and liability management is also given. The core contents of this course include: [1] Overview of the role and scope of activity of actuaries (pricing, reserving, marketing) [2] Actuarial techniques in product development (incl. profit testing) [3] Modern reserving methods (e.g. chain ladder method) [4] Valuation of options and warranties embedded in insurance contracts [5] Technical cash flows as basis for insurer ALM [6] Selection of the investment portfolio; regulatory requirements [7] ALM concepts for insurance companies (e.g. sources of volatility, life vs. non-life, sensitivities, hedging)…

Insurance Management 2 | Lecture/Practical (IL) | Coursecode: 200752312

Management of Insurance Companies

5.00

ECTS

3.00

SWS

The course helps students to understand controlling as a strategic control instrument in the insurance company. The focus is on demonstrating methods used in practice and their concrete application. The course also creates a deep understanding of cause-effect relationships in insurance companies. The scope of the course should range from the definition of a company's objectives and strategy to the measurement of the achievement of objectives. An important aspect is the economic perspective in terms of value orientation. The core contents should include [1] Functions and structure of the insurance controlling system [2] Key figure-based strategic corporate management in insurance companies [3] Product calculation and product controlling [4] Procedures for capital allocation; decomposition of corporate key figures Optional contents may include: [5] Key figures for capital investments …

Sales Management in Insurance | Project Thesis (PA) | Coursecode: 200752313

Sales Management in Insurance

3.00

ECTS

2.00

SWS

It is especially in times of changing market environments and new communication channels that active sales management is key to business success in insurance. This course deals with the major components of operational and strategic sales management in insurance. Functions of sales management are discussed in detail, as well as relevant legal/regulatory aspects. The core contents of this course include: [1] Sales policy and organisation; multi-channel mix [2] Planning of sales processes [3] Strategic vs. operational sales controlling; reporting and benchmarking; indicators; actual and target analysis; control instruments [4] Incentive schemes in sales (e.g. target agreements, pay structure; commissions) [5] Legal framework (e.g. customer protection, tax considerations, IMD II, VersVG) [6] Application of the learning contents during a case study …

Leadership and Management | Lecture/Practical (IL) | Coursecode: 200752401

Conduct of Business: Ethical, Social and Environmental Issues

3.00

ECTS

2.00

SWS

This course raises ethical, social and environmental issues, and underlines their fundamental role for responsible and sustainable business conduct. A general introduction is followed by considerations specific to the bank and insurance sector. The core contents of this course include: [1] Ethics in finance/insurance/economics [2] Example of an ethics code within the financial sector: CFA [3] Corporate social responsibility (CSR): fundamentals, link to corporate culture, asymmetric information and communication, competitiveness, financial markets, distribution of profits, creating shared value (CSV) [4] Socially and environmentally sustainable investing; green investments; positive investments; impact investments. Optional contents can include: [5] Practical examples of incorporating CSR [6] Product design in Islamic finance and Takaful insurance. This course may be taught in English.

Master thesis and Master seminar | Seminar (SE) | Coursecode: 200752402

Master Seminar

2.00

ECTS

2.00

SWS

This seminar accompanies the production of the master thesis. Students present the advanced but not necessarily completed results of their master theses, and defend their work during group discussions. The core contents of this course include: [1] Presentation of research results [2] Presentation and discussion of each student's master thesis (advanced, but not necessarily completed) [3] Critical discussion of others' master theses (topics within scope of specialisation).

Master thesis and Master seminar | Master's Thesis (MA) | Coursecode: 200752403

Master thesis

21.00

ECTS

0.00

SWS

The topic of the master thesis shall be chosen from the student's respective field of specialisation, bank management or management of insurance companies, respectively. Students shall work on the chosen topic independently and produce written work output that is in line with established scientific standards. The chosen topic shall be relevant in practice and connected research questions shall be answered by applying appropriate qualitative and quantitative research techniques.

Insurance Innovations | Project Thesis (PA) | Coursecode: 200752406

Insurance Case Studies

2.00

ECTS

1.00

SWS

Within the framework of the course, students work on case studies from the insurance industry. The selection of the case studies to be worked on is based on the current challenges of the insurance industry and is particularly dedicated to solution-oriented strategy development. Contents of the case studies may include [1] Insurance business (especially internal business processes) [2] Sales and marketing [3] Further and new development of business models [4] Product innovations [5] Regulatory issues [6] Changing market conditions [7] Human resources management [8] Corporate strategy

Insurance Innovations | Practical (UE) | Coursecode: 200752407

InsureTech (excursion)

2.00

ECTS

1.00

SWS

The course includes a practical excursion to innovative companies and institutions of the financial and in particular insurance industry in Austria or abroad. During the excursion the participants will gain insights into new business models of so-called InsurTech companies and their working methods.