Our members often report finding it challenging to secure the capacity they need to start and grow, so we've surveyed providers to understand and explore what they're looking for and how to overcome the barriers.
With access to capacity frequently cited by insurtechs in the UK as one of their key challenges, our Advisory Panel set out to get the view of insurers on this important issue.
Working with our partners, Insurance DataLab, we wanted to provide a snapshot of the current capacity market for UK insurtech, investigating providers’ appetite and requirements with the hope that our findings might allow the sector to determine solutions.
The resulting report paints a picture of insurers keen to provide capacity - but on their own terms and not for every aspect of the market.
Insurer see the main barriers as finding the right opportunities (that fit their strategic ambitions without directly competing), confidence in team capability, and access to reliable data.
Access to Capacity is a key issue for many insurtechs as they start and grow. This report marks the beginning of our work on this important issue, from which we hope to build on the concepts explored and the contacts established to increase collaborations and capacity that will drive the insurance innovation of the future.Melissa Collett CEO, Insurtech UK