Insurtech Gateway allows founders to retain more equity in their business as the time required to get authorisation, underwriting capacity and investment capital is reduced. In turn this decreases the need to raise frequently and further dilution.
A typical Insurtech journey...
Founding teams can quickly setup and get their insurance idea to market in the space of 3 months, testing out multiple propositions to see what sticks in the market.
What we are looking for
- Founders and small teams who have energy and passion.
- Adaptable leaders.
- Pre-seed, seed or unproven business models.
- An overseas idea looking to validate in the UK.
- A strong proposition centred around customer needs.
- Competitive advantage through data and technology.
- Solutions that would beneﬁt from being developed outside of the insurance sector, across all lines of insurance.
- Leverages our rapid pilot and launch capability.
Preparation is key
The following articles will help founders get some market and distribution insights into their plan before they start pitching.
Applications are rolling!
What else does the gateway offer?
Hassle free compliance
OUR REGULATORY AND GOVERNANCE SUPPORT FRAMEWORK INCLUDES:
- Day-to-day compliance and operating support; including regulatory and underwriting requirement fulﬁlment. E.g. Underwriting bordereau, claims, etc.
- Provision of and guidance on complaints procedures, data protection, anti-money laundering procedures and the detection and prevention of ﬁnancial crime.
- The provision of fully segregated client trust accounts for the handling of client money.
- Reconciliation of trust accounts to the ledger in accordance with FCA CASS rules.
FundraisingInsurtech Gateway invests cash to get you off the ground. When you outgrow the incubator, our dedicated insurtech fund kicks in to support you to Series A and beyond. If you need to raise funds outside of the Gateway, we have an established network of investors on call.
MentorshipWe provide access to a range of mentors from the Insurtech Gateway, in addition to Hambro Perks and Lumley’s wider network. These include experts across various sectors, who have held leadership positions in insurance, financial services, government and other key relevant sectors.
Studio spaceWe have beautiful office space on the 9th floor of the Hoxton - Southwark. Founders normally base themselves alongside our team at the start of their incubation, which means we are easily available to give you full support. Our space allows you to hang out with early-stage Gateway founders and other up-and-coming businesses, across a range of industries. Oh and did we mention, we are dog friendly. So please bring your furry buddies!
Meet our carefully selected and road-tested suppliers.
We have negotiated and streamlined the brieﬁng and on-boarding with each of the services below to save you months of time, and in most cases, over £250k of savings.