New Investor Network to support insurtech start-ups

The newly-established network was officially launched in front of an audience of insurtechs, insurers, investors and other stakeholders at the association’s annual Summer Drinks event at the London offices of law firm Browne Jacobson.

Against a backdrop of impressive views across the City from the 15th floor venue, Insurtech UK CEO Melissa Collett hailed the new network an 'exciting' development for ambitious insurtechs keen to scale.

She said: "We are delighted to be able to establish this exciting network for those of our members who are seeking to raise funding to scale their operations and further their reach. Our ecosystem is full of ambitious, thriving companies with huge potential to grow sustainably and profitably, presenting a compelling proposition to investors.

"The network’s founding members have been carefully selected for their proven expertise in, experience of and commitment to helping to scale young companies to achieve bigger and better things. We know that when these investors choose to back a company, an individual or an idea, that they really champion it."

Insurtech UK has also today published its Investment Guide for Insurtech Firms, which provides information and guidance on key processes, signposting to wider resources, and advice, tips and real-world insights from insurtech firms who have successfully secured investor backing to grow their firms.

Unveiling the Guide, Melissa said: "We know that raising funds is never an easy journey, and we believe equipping Insurtech UK members with the resources they need to help access the finance they need to grow their businesses, be it at pre-seed stage or as a company scales, is crucial to our core mission to promote and further our sector domestically and on the world stage."

Since 2019, the UK insurtech sector has consistently attracted the second largest share of funding in the world after the United States, despite cooling trends in global insurtech investment.

Behind the headline figures, however, a picture emerges of growing selectivity, with a more cautious approach to backing unproven businesses. AI and deep tech are attractive propositions, seen as likely to provide the greatest future growth and returns. Within insurtech there has been a significant shift towards insurtechs who act as 'value chain enablers' and improve the way insurers perform.

For founders to be successful in securing investor funding, they must show traction, a credible route to scale, and a clear understanding of where they sit in the market and how they will drive the next generation of insurance innovation.

Ernesto Suarez, founder and CEO of Gigasure and Co-Chair of Insurtech UK, said: "Having built and scaled businesses over the last two decades, I’ve seen first-hand that great insurtechs need more than capital to succeed. Today’s investors are looking for founders who can demonstrate real customer demand, a clear path to profitability and a deep understanding of the insurance value chain.

"That’s why the launch of the Insurtech UK Investor Network is so important. It creates a stronger bridge between ambitious founders and experienced investors who understand the unique opportunities and challenges of building businesses in insurance. For our members, this is about far more than access to funding. It’s about gaining access to expertise, strategic guidance, industry relationships and support from investors who can help accelerate growth and navigate the complexities of scaling within a highly regulated sector."

Stephen Brittain, co-founder of Insurtech Gateway, one of the founding members of the Investor Network, said: "Insurance remains one of the biggest opportunities for technology entrepreneurs, but it's also one of the hardest industries to break into.

"The UK continues to produce exceptional insurtech founders tackling some of the toughest challenges facing businesses and society. But success depends on more than access to capital. Founders also need access to industry expertise, partners and customers who can help turn good ideas into scalable businesses.

"We're delighted to join the Insurtech UK Investor Network and support an initiative that strengthens connections across the ecosystem. The stronger those connections become, the easier it is for ambitious founders to build the next generation of insurance businesses."

James Tootell, Partner at fellow Investor Network member company Eos Ventures, said: "Insurtech UK has built a fantastic community of founders, and the new Investor Network brings investors and founders closer together so companies can find the best partner to help them scale. I'm excited to support that mission as a founding member of the Investor Network and Insurtech UK advisory panel member."

Investors interested in joining the Insurtech UK Investor Network are invited to contact us to find out more.

The founding members of the Insurtech UK Investor Network are: Apax Digital, BlackFin Tech, Eos Ventures, Insurtech Gateway, InsurTech NY, Molton, MTech Capital and Outward.