Insurtech UK - Buildings Insurance Hackathon
Flammable cladding and the failure of insurance
The Grenfell Tower tragedy just over three years ago, and the resulting professional and
public inquiries set in motion a chain of events that have caused contagion across the UK
Buildings and Professional Indemnity insurance markets.
The contagion related to Buildings Insurance for blocks with cladding and fire safety
problems and Indemnity insurance for the professionals required to advise on the
assessment and remediation of these buildings has led to unaffordable terms being offered
and in some cases cover not being offered at all. This market failure is causing significant
financial and emotional harm to impacted residents and businesses.
Our aim is to collaborate and explore ways to build a market-ready solution(s) by the autumn
of 2020 that resolves the problems for all stakeholders involved.
Session 1 - 16th July 2020 at 10am: Understanding the problem
IUK would like to hear from all stakeholders impacted by and involved with the Buildings
Insurance crisis in order to inform the debate and the design of solutions. We are seeking
input from Residents, Fire Engineers, Government, Regulators, Fire Authorities, Managing
Agents, Insurers & Insurance Brokers in order to gain the broadest understanding of the
The session will run as a 90 minute Zoom call with speakers allocated a time to present their
issues and take questions from the audience. The session will be chaired by Matt
Hodges-Long CEO of TrackMyRisks and Council Member of IUK.
Next steps - Virtual Hackathon
Following the session, the IUK team and invited partners will work together to design
solution(s) to the problems identified. Our stated aim is to create a market-ready solution(s)
by Autumn 2020.
The solution generation work will be organised along the lines of a virtual hackathon with
multiple teams, each of which is multi-organisation and multi-functional, tasked with
proposing their industry solution. The hackathon sessions will run through the summer and
each team will present their solution to a select group of industry stakeholders.
To attend please email firstname.lastname@example.org