The open call for growth-stage Insurtech startups in the globally recognized insurance center attracted over 70 applications from businesses across the world. Following the review by the selection committee, seven startups have been selected to join the program, which commences on 26th September and will run for 12 weeks.
Kasko enables insurers to design, launch and scale digital insurance services time and cost-effectively across all channels.
Kidbrooke enables financial institutions to create engaging customer journeys providing superior financial decision-support in a fraction of the time and cost, increasing profitability by consistently serving more customers across multiple channels.
Staple develops cognitive AI to process, extract and reconcile non-structured data at scale, regardless of layout or language.
Spixii CPA platform enables companies to automate their high-value services into 24/7 online structured conversations, 10 times quicker than other channels such as email, phone and web form.
Regsearch is a regulatory knowledge community that gives individuals and companies instant access to any regulatory documentation in one location.
SignD is the all-in-one platform for compliant and friendly onboarding processes.
Neuroprofiler helps financial institutions assess the investor profile of their clients and comply with local regulations thanks to behavioural finance and gamification.
The Insurtech Acceleration Program builds on the Isle of Man’s experience as a well-established hub of insurance expertise and will strengthen the Island’s leadership and reach in Insurtech and innovation internationally, supporting promising startups looking to collaborate with established insurance players in the region.
Program support partners that will act as mentors throughout the 12-week program include: Zurich, Utmost, RI360, Momentum International, EIP and Hansard. Mentors will offer insurance industry expertise and assist the startups in defining their proposition to suit the Isle of Man market needs.
In addition to masterclasses, coaching, and mentoring, the selected startups will also have the opportunity to attend the Scotland Fintech Festival and present their solutions in a unique pitching event on the 5th of October in Edinburgh.
Simon Pickering, Head of Insurance and Pensions, Finance Isle of Man said: “I am delighted to formally announce today the successful entrants for the Isle of Man’s inaugural Insurtech Accelerator Program. The quality of applications has been extremely high, and the selected startups represent businesses at the cutting edge of Insurtech technology. Under the mentorship of F10 and our Program support partners, I look forward to seeing this cohort develop and scale up their Insurtech solutions, building on the Isle of Man’s success as a hub for growth and insurance expertise”.
Marc Hauser, Head of F10 Europe, commented " We're excited to introduce the startups that are part of this unique Insurtech Accelerator Program. We got very strong applications, and I congratulate all the selected founders! We are convinced, this batch of international startups has a lot to offer to the Insurtech ecosystem on the Isle of Man and beyond. The F10 team will support definition of collaborations, provide relevant masterclasses, facilitate face-to-face meetings as well as mentoring from F10 coaches and relevant partners."