Investor/Corporate Innovator of the Year
Sponsored by Sønr
This category is for UK based companies and VCs that have demonstrated success in launching or scaling Insurtech propositions through financial investment and/or other resources. Judges looked for tangible output from the new venture activity and evidence of the impact had on the wider insurance market.
This category is not open for entries. Nominees were selected by the Insurance Times’ editorial team in conjunction with industry experts.
All of the finalists are listed below. Use the links to find out more from the entrants who have answered our series of Q&As.
WINNER: Insurtech GatewayEos Venture Partners
Octopus Ventures
WINNER: Insurtech Gateway
What key achievement did your entry highlight?
As the first FCA authorised launch platform, Insurtech Gateway supports tech founders creating transformational new business.
We de-risk their development and connect them with scale-up partnerships in insurance and tech. Our fund takes these
businesses to market.
When lockdown gave everyone else an excuse to stop backing innovators, we stepped on the gas.
Highlights:
- Gateway makes 6 investments in 12 weeks.
- By Miles closes £15m Series B.
- Collective Benefits and Humn secure direct FCA authorisation in record time.
- Nayms brings Smart Insurance Contracts to the Insurance Linked Security Industry in Bermuda.
- Former Greenpeace Head of Strategy joins Gateway advisory board.
The Gateway Team
Can you share data or testimonials to back up your bid to win?
“With Insurtech Gateway’s market connections we were able to secure a new underwriter within weeks.”
Benjamin Hay, Co-
Founder, Collective Benefits.
Mark Musson, CEO & Founder, Humn. “The Insurtech Gateway team has a formidable breadth of knowledge when it comes to getting startups off the ground. They get what startups need, have an impressive network.”
Adam Rimmer, Co-Founder, FloodFlash “The Gateway has been a shining beacon of positive good news in this pandemic.” Robin Mertens, Co-Founder, Instech London.
What sets your firm apart from the other shortlisted contenders?
One of the biggest barriers to entry insurtechs face is regulation. The process is complex and can take around 12 months to complete. Not only is this daunting for tech founders, who lack insurance expertise, but it prevents founders testing their product with real customers. The Gateway is the only FCA authorised launch platform, allowing our portfolio to sell their products as an Appointed Representative, under our license. Not only does this enable rapid testing of their product but it dramatically reduces the time it takes the founders to secure independent authorisation. Think 6 weeks, rather than 12 months.
How will you celebrate if you are the victor?
Silent disco!