The insurtech aims to serve underserved and uninsured SMEs, which its co-founder says are ’the lifeblood of the UK economy’ 

Insurtech io.insure – a digital mergers and acquisitions (M&As) insurance marketplace for SME transactions – has today (13 February 2023) launched in the UK.

The insurtech is part of Pop Group Holdings – an investor in M&A and businesses that specialise in data and technology enabled insurance – which currently serves 15 markets across five continents.

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Killian McDermott, co-founder and executive partner at io.insure, said: ”I am pleased to announce the launch of io.insure in the UK – first launched in Australia, then the US last year – to address the global issue of underinsurance within the SME M&A market.

“With an estimated 5.6m SMEs in the UK and with a huge volume of deals happening without insurance, io.insure is designed to meet this need for underserved SMEs, which are the lifeblood of the UK economy.”

Underinsured and underserved

The launch also sees George Apperly join io.insure as its managing partner – he will be based in London and will become responsible for the platform’s growth in UK SME M&A market. 

Read: SMEs face significant levels of uninsured risk amid ‘tumultuous’ times – Aviva

Read: BrokerFest 2021 – SMEs face underinsurance risk around intangible assets

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Apperly will also foster strategic partnerships needed to develop products such as Mio – the M&A insurance online product for SMEs and other financial lines and specialty insurance products.

He said: “With ground-breaking technology and unmatched expertise, io.insure is opening up a whole new area, reaching a critical market segment that has previously been underinsured and underserved.

“Both the need and the scope of the opportunity are therefore huge. I look forward to building the platform in the UK as part of the broader effort to address this global issue and developing it to offer further digitalised financial lines and SME specialty insurance products.”

Apperly joins from Lockton, where he was vice president of transactional risks. He also played a pivotal role in the team’s development and success by assisting clients across private equity, real estate corporate, energy and infrastructure transactions.

Prior to this, he was an account executive at Howden.

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