In November 2017, the InsurTech Gateway was launched as the World’s first authorised incubator for InsurTech, which alongside investment capital and a suite of centralised services will ensure that startups will be able to rapidly access the market and begin shaping their products with real customers.
The Gateway allows founders to retain more equity in their business as the time required to get authorisation, capacity and capital is reduced. In turn this decreases the need to raise frequently (and risk further dilution).
The InsurTech Gateway have centralised exclusive key platforms required to get InsurTech startups to market and scaled (From Branding to a Full IT Stack), whilst providing a full service compliance operating model.
Combined with access to investment and insurance capacity, they can get a business ideas into market in a matter of months, rather than the market average of 18 months, cutting the cost of entry from £1m to £200-300k.
“The team behind the InsurTech Gateway has formidable breadth of knowledge when it comes to getting startups off the ground. They understand the opportunity for tech-enabled insurance, and their services and network will allow startups to leap ahead when developing their product for market.” Adam Rimmer, director and co-founder of FloodFlash.