Member spotlight: Innovative Risk London

Supporting existing, aspiring and innovative businesses working in the insurance space

Innovative Risk London (IRL) is an insurance catalyst & Regulatory Principal and the only Lloyd's broker dedicated to innovation.

We support existing, aspiring and innovative businesses in the insurance space as their Regulatory Principal and growth partner.

Our offer

UK regulatory status as an Appointed Representative
Regulatory licence to trade with risk, compliance and governance oversight, guidance and support
Cascading of IRLs credit broking licence
Cascading of IRLs Lloyd’s broking licence
Advice to help you manage and scale your business
Access to underwriters / capacity / existing facilities / networks
Access to our range of tailored partnerships
Dedicated Insurer trust accounts management with reconciliation / payments capability
Compliance documentation for onboarding and regulatory updates / annual review
Annual on-site audit along with quarterly review meetings
A route to direct authorisation and support with executing at no additional cost
Technical review and support on binding authority agreements, TOBA’s and partnership agreements

Our appetite

We work to support:

Existing brokers & MGAs who feel they are not adequately supported by their existing regulatory principal
New brokers / MGAs
Start-ups, with or without the ‘insurtech’ tagline
People who know their industry, have an idea and need regulatory support
Technology focussed capability

We are different

We work on the front-line. Our leadership team have built and scaled insurance businesses and we use that experience to support you on your journey.

We take a human approach. Every interaction is as personal as you want or need.

We’re not a large network who gets the nuts and bolts lost in translation; we’re the right size to enable the level of support and focus that you and your business need.

We don’t ‘skim’ off the top. Unlike most regulatory principal models, our benefits are passed straight through to our network enabling improved cashflow and growth.

Our mission

Our mission is simple, to help new and existing insurance businesses add value to the evolving insurance landscape.

Our values

Innovating, as standard
Totally accountable
Adding value, always

Visit our website

Meet the team

Alan Hickman

CEO

Alan has significant experience in the general insurance sector with deep industry knowledge and expansive networks. He has worked for some of the largest UK insurance brands and within the Lloyd’s environment. He's also advised new entrants in the sector and exited two venture projects.

More importantly, he has previously built a business that was an AR of IRL for over 7 years so understands intrinsically what an AR needs and how IRL can best support.

Richard Jackson

Head of Compliance

Richard has nearly 20 years of experience in the insurance industry and 10 years of working in compliance roles at Allianz, Ethos Broking, Insurance Compliance Services and (prior to joining IRL) working with AmTrust Speciality.

In his time within these roles he has worked directly with appointed representatives and is familiar with what it takes to provide guidance and regulatory oversight of businesses entering the insurance market.

James York

Chairman

James is IRL’s original founder. He is an entrepreneur with a passion for making insurance more transparent and connected.  

After creating his own brands and building his own technology, James wanted to help other founders and established insurance businesses on their start-up and growth journey.

About Innovative Risk London

Our history

IRL has been trading since 2013 but in a few different guises. Originally incepted as an insurance broker, distributing products direct to consumer, the business has evolved into a fully authorised entity with the specialisms required to support aspiring businesses.

Trading

IRL trades business globally, from Asian motor warranty and merchant trade credit risk to global litigation and personal lines products such as motor, home, pet and commercial SME and fleet.

Platforms

IRL doesn’t enforce a platform for your business. You get to make that all important decision aligned with your product and distribution strategy, however, we can help you choose the right platform, negotiate terms and get enhanced speed to value.

As an AR of IRL, you’ll get access to our platform, the IRL HUB for reporting, product and policy libraries, financial promotions reviews, annual fit and proper attestations, compliance monitoring plans and much, much more.

Lloyds

We’re a Lloyd’s broker dedicated to innovation. We can access specialty lines, globally. We’re also very well positioned to do so, being based in the Lloyd’s building in London.

Portfolio

Our current portfolio includes a wide range of companies, UK based and some with a Global presence. Between them they offer an even wider range of products, from wedding insurance, elite home insurance, legal expenses insurance, Health, Life & flexible employee benefits to name a few.

We are adding new partners all the time and our portfolio grows from strength to strength.

Contact us

Reach out to us via email with any questions or an expression of interest in what we offer at Info@innovativerisk.co.uk

Why join us?

We are the UK’s most flexible and innovative regulatory network.
Get your UK regulatory status as an Appointed Representative rapidly
Get immediate access to compliance support, advice, policies, procedures and training.
Access IRL’s credit broking licence
Access the Lloyd’s marketplace
Face to face support to help you reach the potential of the business
Gain access to our existing underwriters and capacity providers
Free Insurtech UK membership for you and your team
Get instant access to our range of tailored partnerships
Uniquely access our support to direct authorisation

Member spotlight - Innovative Risk London