Mark Anderson
The UK InsurTech industry has seen an impressive wave of startups, established in 2020 or later, that are harnessing new technologies and innovative strategies to disrupt the traditional insurance market. Headquartered across various UK cities, these startups are leveraging AI, machine learning, and data analytics to build platforms and solutions that provide more accessible, efficient, and customised insurance services. In this article, we highlight some of these promising InsurTech startups, their strategies, and the value they add to the industry.
Operating primarily as insurance intermediaries, technology service vendors, or full-stack insurers, these startups are revolutionising the insurance value chain, encompassing policy distribution & servicing, pricing & underwriting, claims administration and risk prevention. By leveraging technological advancements they are able to reshape the ways insurers interact with customers and manage data.
These startups, although diverse in their operations, share a collective mission to automate, digitise, and simplify insurance processes and functions. Here are some of the stand-out UK-based InsurTech startups founded in 2020 or later:
Quotech
Born in London and operating within the InsurTech industry, Quotech’s platform makes it easier for underwriters and brokers to access data for pricing, distribution, administration, claims, and trading. Connect with Quotech on LinkedIn.
Wesurance
Another London-based startup is Wesurance, founded by Eddie Chang and Natalie Fong. Wesurance creates and implements digital insurance solutions for businesses, allowing for wider customer reach, business growth, and exploration of new business models. Find out more on their LinkedIn page.
Augmize
Established by Favour Mandanji Nyikosa and Jon Forester, Augmize is leveraging technology to disrupt the insurance industry. Follow them on LinkedIn and Twitter.
Moonshot Partners
Founded by Juan Andrés Lagrange Delfino and Ricardo Rodríguez, Moonshot Partners helps companies realise their digital potential. Find them on LinkedIn.
BrokerIQ
Headquarter in Belfast, BrokerIQis a customer engagement platform for the insurance and broker industry. Follow their updates on LinkedIn, Twitter, and Facebook.
SettleIndex
SettleIndex, based in London, allows lawyers and legal departments to assess and manage risk in litigation. Follow their updates on LinkedIn and Twitter.
Marinsight
Based in Newcastle upon Tyne, Marinsight focuses on leveraging operational performance data to increase the underwriting capacity of marine insurers. Connect with Marinsight on LinkedIn.
Regulativ.ai
Regulativ.ai, founded by Jinal Shah and Mark Weston, help businesses with comprehensive views of their cyber defences to numerous regulatory bodies. Link with them on LinkedIn.
Nuon AI
Operating from Tunbridge Wells, Kent, Nuon AI optimises insurance pricing using AI. Connect with the founding team – Mathew Donfrancesco, Matthew Tomlinson, Richard Anderson onLinkedIn.
Intelligent AI
Founded by Anthony Peake, Exeter-based startup Intelligent AI provides a platform for underwriting management, helping to lower claims for business interruption and global business risk. Follow their updates on LinkedIn and Twitter.
InsurX
Founded by Gilbert Harrap and Will Iles, InsurX is an up-and-coming startup operating in the InsurTech space. Connect with them on LinkedIn.
