Technology & Innovation Awards finalist 2020 Q&A: Insurtech Gateway’s platform supports insurtechs and startups

Here we feature Insurtech Gateway entry into Investor/Corporate Innovator of the Year

Insurtech Gateway entered its platform supporting insurtechs and startups

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 six 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

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, at Collective Benefits.

“Partnering with Insurtech Gateway saved us at least 10 months in getting to market with a wrapped insurance product,” Mark Musson, chief executive and 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, at FloodFlash

“The Gateway has been a shining beacon of positive good news in this pandemic,” Robin Mertens, co-founder, at 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 twelve 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 six weeks, rather than 12 months.

How will you celebrate if you are the victor?

Silent disco

Read more…Surviving Covid-19, government schemes for insurtechs ’not all its cracked up to be’

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