Nine of the brightest international InsurTech businesses have been identified to undertake a 12-week programme, helping them to raise their profiles, identify commercial opportunities and prepare their business to scale. The programme, which will take place in London, introduces the companies to potential customers, industry decision makers and leading experts who may become customers, market advisors, or even business partners.
PwC's 2018 CEO survey found that 85% of insurance CEOs are concerned about the pace of technological changes – more than leaders in any other industry. Jonathan Howe, PwC’s Global InsurTech leader, has also warned insurance brokers that they are not immune from the disruption created by InsurTechs and that they should be responding to developing technology.
The Scale programme facilitates partnerships and collaboration between innovative InsurTechs and established insurance organisations, keen to capitalise on the potential of partnerships in driving profitability and growth. According to the PwC CEO Survey, nearly half of insurance CEOs are planning a new strategic alliance or joint venture over the next 12 months.
Jonathan Howe, PwC’s Global InsurTech Lead, commented: “We’re delighted to announce this group of innovative scale-up businesses, who we’ve identified as having real potential to go all the way and we can’t wait to start helping them in their journey.
“Scale-up businesses are essential to our economy and crucial to future innovation. By combining cutting-edge technology with networking events and best practice, the programme enables businesses to accelerate their growth by opening the door to new opportunities. We're excited to see the opportunities it will create."
Antoine Baschiera, CEO and Co-founder of Early Metrics, added: “We are delighted to be working with PwC on their Scale | InsurTech programme. We aim to support start-ups and SMEs scale effectively, and the Scale programme will provide them with access to potential customers, industry leaders, and key decision makers.”
The Scale | InsurTech cohort of businesses are:
Apexx is a payment gateway between insurers and numerous global payment methods (Visa, MasterCard etc.), allowing access to every payment solution in the world and enabling significant savings on payment acceptance fees.
Assetvault provides digital, legal and financial products (eWills, Insurance referrals and eTrusts) to financial institutions to help them better retain existing customers and acquire new ones.
Blocksure is a decentralised insurance platform for brokers, MGAs and (re)insurers which enables real time processing of transactions across policy administration and claims management, eliminating a number of current back office processes.
Canopy provides renters with a RentPassport, a unique digital profile at no cost; allowing them to save up to 95% on a tenancy deposit, improve their credit score by tracking rent and stand out from other renters to secure their dream property.
Gefen Technologies is a platform that creates and captures meaningful interactions between businesses and customers. It provides agents with the relevant and critical information they need to effectively engage with their customers at the right moments.
Geospatial Insight is a leading provider of risk intelligence derived from analysis of satellite, aerial and drone imagery.
Inzura is a digital insurance platform which enables insurers to engage customers, analyse their data and launch innovative new products.
Paycasso provides customer identity verification software for businesses.
Surely powers digital insurance, providing a cloud-based technology platform that enables customers and brokers to quote, buy and manage insurance online.
Participants on the programme will undertake a business development curriculum, receive advice on topics such as GDPR, the corporate procurement process, investor readiness and valuations as well as insurance specialisms.
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