The goal of the Connecting Insurtech Meetup was to bring together stakeholders from the Central and Eastern European insurance sector in one space, including local insurtech companies, startups, and ecosystem partners.
The event was organized by Kobi Bendelak, CEO of InsurTech Israel, Ádám Ferenczi, CEO of Insurwiz, and Klime Poposki, a professor at the University St. Kliment Ohridski. The venue was Puzl CowOrKing Budapest, where the professional presentation was followed by an opportunity for networking.
However, the gathering was not only about building connections. Beneath the conversations lay a strategic question: how can we build a connected insurtech ecosystem out of isolated, island-like innovation—one in which the region does not merely adopt international patterns, but also shapes the future itself?
Insurtech Is Not a Trend, but a Structural Transformation
One of the main conclusions of the presentation was that insurtech’s development is not a simple fashion wave nor short-term technological hype, but a deep, structural transformation in how the insurance industry operates. The figures reinforce this picture: the global insurtech market was hovering around 25 billion dollars in 2025, while forecasts suggest it could grow to between 250 and 380 billion dollars by 2030. This tenfold leap in itself indicates that the future of insurance will not simply be digital, but will be built on a different logic.
One focus of the discussion was that the first wave of digitalization in the insurance sector has already taken place. The real turning point is beginning now, where the nature of risks is changing, and due to the volatility of the environment, governmental and regulatory systems cannot operate solely in a reactive manner. Data-driven, automated, or partially autonomous operation is becoming increasingly important—one that can predict, prevent, and reduce risk. In the conceptual framework of the presentation, insurance ideally does not relate to loss that has already occurred, but to the process during which risk “disappears” because it has been prevented or brought under control.
Two Major Insurance Logics
Traditionally, two major operational logics have become dominant in the industry. One is the approach built on long-term, stable risk management, and the other is the model organized around event-based claims handling. Modern insurtech thinking, however, is increasingly moving beyond this duality and toward an operating model that works with real-time data, takes context into account, and becomes invisible by embedding itself into everyday life situations. In this logic, insurance is no longer necessarily a standalone product, but rather a service layer that connects with mobility, health, behavior, and prevention.
At the same time, the presentation did not idealize this future. It was said that technology is a powerful tool, but it also carries risks, especially when new forms of insurance spread without adequate control. Therefore, the real question is not whether the change is good or bad, but where and within what frameworks it can best be tested, refined, and introduced safely.
Why Could the CEE Region Become Insurtech’s “Sandbox”?
One central claim of the meetup was that the Central and Eastern European region is in a special position. The region simultaneously has a strong technological and engineering knowledge base, a market dynamic that may be more open to experimentation, and a regulatory environment that in certain cases may be suitable for supporting pilots and tests. Institutional trust and systems-level thinking in the region can often provide fertile ground for data-driven solutions—if they appear within a properly organized ecosystem.
The biggest obstacle is not a lack of talent or technology, but fragmentation. Many actors work in parallel, often with good ideas and competencies, yet in isolation and without coordination. One of the core ideas of the presentation was that innovation does not disappear because it is bad, but because coordination is missing, and there is no shared infrastructure that can turn experimentation into a product, a pilot into implementation, and a good idea into market results.
Ecosystem, Not Meetup: Cooperation Among Insurers, Startups, and Regulators
One of the most important lessons of the event was that insurtech’s future will not be decided by a single successful pitch night or networking program, but by whether lasting and functional cooperation emerges among insurers, startups, investors, universities, and regulators. The experience of the Israeli ecosystem can play a key role here, where technological innovation and international market entry are consciously supported, and where insurtech is not only product development, but also a strategic industry matter.
The examples presented carried the message that global scaling is not unattainable. Programs and acceleration pathways were outlined that can connect regional startups with international markets and partners, while testing can take place locally, in real environments. Based on the tone of the discussion, Budapest and the region may increasingly be seen as places where pilots can start faster, and where connectivity can be interpreted not only within the city, but also in relation to Warsaw, Prague, and other regional hubs.
A Dedicated Insurtech Hub in Budapest?
A concrete vision also emerged during the meetup: the need to create a dedicated insurtech hub in Budapest. The essence of the idea was that while there is no shortage of coworking offices and innovation spaces, insurtech is a distinct, industry-specific world that requires a separate culture, deep domain expertise, and a professional environment. An insurance-focused center would not merely mean office space, but a meeting point where investors, insurers, startups, and experts could work together regularly and in a targeted way.
The role of such a hub would go beyond community building. It would provide infrastructure for pilot projects, support international connections, and in the longer term could even become one of the organizing forces of the regional insurtech ecosystem.
Regulation and Innovation Are Not Enemies
The operation of insurance and financial markets is fundamentally shaped by regulation, which is why innovation cannot bypass regulators; on the contrary, it specifically needs early, deliberate, and continuous communication with them. It was also mentioned in the discussion that regulators are typically more conservative and not necessarily instinctively open to rapid technological shifts, which makes it especially important for innovation actors to be able to clearly present the meaning and risks of solutions, at the right time and within the right framework.
In this context, Hungary’s institutional environment and sandbox-like approaches could offer an opportunity for insurtech—after fintech—to build a stronger pilot culture as well. According to the meetup’s message, regulation is not a brake but a framework, and if the frameworks are well designed, they enable safe experimentation.
(Cover image: Depositphotos)
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