Two UK insurtechs named in Isle of Man Insurtech Accelerator’s first cohort

The Isle of Man Insurtech Acceleration Program has today (21 September 2022) named the seven startups in its first cohort – Of these, Kasko and Spixii are UK based. 

The program is a collaboration between Insurtech Isle of Man – an insurtech hub backed by the Isle of Man’s government, regulator and insurance professionals – and F10, which is a global innovation system for fintechs and insurtechs.

Simon Pickering, head of insurance and pensions at Finance Isle of Man, said: “The quality of applications has been extremely high and the selected startups represent businesses at the cutting edge of insurtech technology.

”Under the mentorship of F10 and our program support partners, I look forward to seeing this cohort develop and scale up their insurtech solutions, building on the Isle of Man’s success as a hub for growth and insurance expertise”.

Program support partners that will act as mentors throughout the 12-week program include Zurich, Utmost, RI360, Momentum International, EIP and Hansard.

These mentors will offer insurance industry expertise to startups in defining a proposition to suit the Isle of Man market. 

The selected startups will also attend the Scotland Fintech Festival in Edinburgh to present solutions in a pitching event on 5 October 2022.

Strong applications

The open call for growth-stage insurtech startups attracted more than 70 applications to the Isle of Man Insurtech Accelerator from businesses across the world. The seven selected were chosen after a review by the selection committee.

Marc Hauser, head of F10 Europe, added: ”We’re excited to introduce the startups that are part of this unique Insurtech Accelerator Program. We got very strong applications and I congratulate all the selected founders.”

The selected startups are:

• Kasko – United Kingdom – Kasko enables insurers to design, launch and scale digital insurance services time and cost-effectively across all channels.
• Spixii – United Kingdom – Spixii’s CPA platform enables companies to automate their high-value services into 24/7 online structured conversations quicker than other channels such as email, phone and web form.
• Kidbrooke – Sweden – Kidbrooke enables financial institutions to create engaging customer journeys and provide superior financial decision-support in a fraction of the time and cost.
• Staple – Singapore – Staple develops cognitive AI to process, extract and reconcile non-structured data at scale, regardless of layout or language.
• Regsearch –Isle of Man - Regsearch is a regulatory knowledge community that gives individuals and companies instant access to any regulatory documentation in one location.
• SignD – Austria – SignD is the all-in-one platform for compliant and friendly onboarding processes.
• Neuroprofiler – France – Neuroprofiler helps financial institutions assess the investor profile of their clients and comply with local regulations thanks to behavioural finance and gamification. 

Hauser added: “We are convinced, this batch of international startups has a lot to offer to the Insurtech ecosystem on the Isle of Man and beyond. The F10 team will support definition of collaborations, provide relevant masterclasses, facilitate face-to-face meetings as well as mentoring from F10 coaches and relevant partners. ”