Cookhouse Lab, the first insurance focused open innovation lab announced today their official grand opening is scheduled for February 1, 2017. Located in downtown Toronto, the Lab is central to the home of many global Life and P & C insurance and reinsurance companies. It invites insurers, reinsurers, technologists, academics, and entrepreneurs to collectively join forces and accelerate the insurance innovation landscape by adopting an open collaborative approach.

Sven Roehl, Co-Founder of Cookhouse Lab and EVP and head of Insurance Innovation of msg global states, “We are excited to bring great minds from all over the world together to shape the future of insurance. Open collaboration and Design Thinking are the ingredients to creating a new insurance innovation ecosystem, where we do anything but business as usual.”

The 3,500 square foot facility will include open workspaces ideal for collaborative project teams, several private offices for internal project groups and plenty of soft seating/lounge areas to share ideas and co-create. Skilled resources such as developers, designers, project managers and innovation experts will be available in-house to successfully support project teams in transforming ideas to rapid prototypes.

“Cookhouse Lab will empower us to rethink. It will challenge the speed of the insurance industry. And it will prove that with the right mix of creative spirit, energy and expertise, we can make a difference. We will facilitate big ideas and meaningful InsurTech projects, those that will truly add value to insurance and people’s lives.” Chris Murumets, Co-Founder of Cookhouse Lab and LOGiQ3 Group adds.

On February 1, 2017, Cookhouse Lab will be hosting an exclusive Grand Opening Innovation Day. Grzcech Piotrowski, founder of World Orchestra, from Warsaw, Poland will be delivering a keynote address to share his 18-year journey and success in transforming and challenging the way traditional orchestras have been assembled. In addition, six InsurTech start-ups, hand-picked by acceleration partner Highline BETA, will be pitching their ideas for a chance to be awarded a one-year membership.

Cookhouse Lab will run a number of innovation projects simultaneously in 2017 with the objective to generate 10-15 minimum viable products (MVPs) by early 2018. The first project, InsurTech Innovation Project: Create an Insurance Loyalty & Reward Program is now accepting applicants to join.