The newly launched New Insurtech Acceleration Program in the Isle of Man, in partnership with F10, offers selected startups coaching and mentoring over four months. Participants will also participate in pitching sessions - including at the Scotland Fintech Festival this Autumn. Registration is now open.
Insurtech Isle of Man has launched a joint Acceleration Program with F10 for growth-stage Insurtech start-ups. The Isle of Man is a globally recognised insurance centre, with insurance representing the biggest financial services sector on the Island, encompassing a wealth of knowledge and expertise. F10 is a global innovation ecosystem which supports early-stage Fintechs and Insurtechs by connecting them with corporates, investors, and mentors.
The 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 start-ups looking to collaborate with established insurance players in the region. This will be the first acceleration program on the island.
The program will run from September to January 2023. Start-up companies chosen to take part will receive coaching on open innovation and collaboration best-practices, personalised mentoring, and the opportunity to work with leading insurers. They will also have the opportunity to access the F10 global network with access to sessions on a variety of topics crucial to scaling their business including marketing, branding and sales.
Insurtech Isle of Man and F10 are focused on identifying and admitting Insurtech start-ups in the following core areas: wealth management & investment, customer onboarding, and issuance and management of policies. The focus of the Program will be high-impact solutions with the potential for Insurtech start-ups to collaborate with leading insurers in the region.
The Program will include high-visibility pitching opportunities for participating start-ups during the Scotland Fintech Festival, taking place this Autumn, and the final Demo Day event to conclude the program. Insurtech Isle of Man and F10 are now accepting applications and interesting start-ups are invited to apply until the 21st of August.
Michael Crowe, CEO of Finance Isle of Man, said: “We are delighted to formally launch applications for our first Insurtech Acceleration Program on the Island, in partnership with F10 and our Government-funded initiative, Insurtech Isle of Man. The maturity and scale of the existing insurance sector on the Island offers a gateway to a global market for Insurtech businesses and this program will enable participating start-ups to deliver high-impact solutions in collaboration with some of the region’s leading insurers. There is a clear potential for Fintech in the insurance landscape and the Isle of Man is well-positioned as a hub for this innovation”.
Marc Hauser, Head of F10 Europe, said: “We are excited to announce this one-of-a-kind acceleration program in collaboration with Insurtech Isle of Man. Having worked in the industry myself, I experienced the tremendous potential first-hand and am convinced open innovation is the best way to make fast progress. Together with leading insurers and Insurtech start-ups, we will explore and realise relevant use cases. The whole team at F10 is looking forward to accelerating the creation of a thriving Insurtech ecosystem in the Isle of Man.”
(Press release)
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