We went back to the drawing board for the design of the Gateway Incubator after 11 months of banging our head against the wall.
1) Attract tech entrepreneurs with the ability to learn and adapt without getting lost.
2) Bring together the 3 brains of insurance modelling, product/market fit, and founding new businesses into a single mentoring team.
3) Create platform to remove the blocks to test ideas quickly with the customer.
4) Bring inspiration and insights from our insurance partners and not rules.
5) Raise enough finance to enable us to take our time to get it right. We had to accept that this was going to be another learning phase.
6) Connect with insurer partners who were interested in new models and sectors rather repairing or modernising the system.
And now here we are 11 months since we launched our Incubator platform and we’re (a lot more) ready…
And today when we meet an entrepreneur that we’d like to work with we can say “open sesame” and we can remove the blocks of investment, authorisation and insurance in one decision.
We also have a much better idea of what we are looking for.
The kind of models that work and can be developed and proven outside of the industry at speed. We’re able to share this with our invested companies as they pivot and shape their proposition for for better market fit.
But beyond this, maybe the best thing about where we are today is our ability to say no. We don’t have to fill a cohort, we don’t have to work with insurers that we think don’t bring enough to the table, and we don’t have to deploy our investment capital at speed. We can focus on being better at serving our customers, the start-up founders, even better.
We want to hear from you.
The InsurTech Gateway is the first authorised InsurTech incubator. We have the expertise to help early stage startups shape a clear strategy. The connections that open doors to key decision makers in the industry. The passion to support out of the box ideas. And the capital to back this all up!
So if you are working to launch a new InsurTech business, check out what the we have to offer and get in touch!