Following discussions during the summer, the founders of Insurtech UK held its inaugural meeting this week.
The group’s intention is to develop into a formal association in 2019, with an initial five-year mandate. As well as supporting InsurTechs with some of their day-to-day challenges, Insurtech UK will seek to drive forward conversations with government, industry and regulators, as well as working alongside incumbents and established trade associations to address many of the issues facing the UK’s insurance industry.
There were 20 members were in attendance for the launch, with 31 companies committed.
Companies who have joined or have begun the process to join InsurtechUK include: Anorak, Azur, Bewica, Bikmo, Bought By Many, Buzzvault, Canopy, Claim Technology, Concirrus, CoVi Analytics, Drover, Equipseme, Floodflash, Hokodo, Honcho, Kasko, Konsileo, Laka, Marmalade, Meet Sherpa, Urban Jungle, Pluto Polaris, PolicyCastle, Shepherd, So-sure, Tapoly, Track My Risks, Worry and Peace, Wrisk, and Yulife.
The first meeting focussed on what the organisation intends to do in the next six months and how it would be structured.
Establishing an interim council, along with three working groups covering communications, operations and best practice, were announced and discussed.
James York, founder of Worry and Peace, said that this is is a step towards building the voice of the UK’s growing InsurTech industry.
“We’ve had tremendous support so far from the community as well as the wider insurance ecosystem. We’re keen to get started and build on the fantastic momentum already gained and we look forward to collaborating with many partners and help build a sector that has true potential to be world leading.”
The organisation will be supported by the public affairs consultancy Political Intelligence, which has experience providing secretariat functions to trade associations and industry alliances.
Insurtech UK is currently accepting applications for membership, as well as for associate membership and partnership opportunities.
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