UK Insurtech Trade Mission
Spain & Portugal
24 November 2020
10:00 - 13:00 (Spain)
09:00 - 12:00 (Portugal and UK)
About the event
This virtual trade mission will provide you and your company the opportunity to meet directly with a select group of cutting-edge UK Insurtechs and with several insurance sector leaders from the United Kingdom, Spain and Portugal. UK delegates will showcase their innovative technologies while learning about the European insurance market from industry leaders.
During this event you will be able to:
- Discover the latest trends in the UK, Spanish and Portuguese insurance markets
- Get an update on innovative technologies from 12 best-in-class UK insurtechs
- Opportunity for 1-1 meetings with UK company delegates
To discuss one to one virtual meetings with UK Insurtechs please get in touch with:
- firstname.lastname@example.org (Spain)
- email@example.com (Portugal)
Please note that this event will be in English.
A link will be sent to you in advance of the event once you have registered.
Welcome address and opening remarks - Conor McGurk, DIT Director Europe South
Introduction by DIT - Tom Herbstein, Insurance & Prosperity Specialist, DIT London
Introduction to the UK insurance Industry by the Association of British Insurers (ABI) - Ben Howarth, Director General, Business Manager
The role of innovation by Insurtech UK
Spain market overview by the Spanish Association of Insurers and Reinsurers (UNESPA) - Miguel Ángel Vázquez, Head of Research and Nuria Castañer Carrasco, Head of EU Office & International Affairs
Portugal market overview by the Portuguese Association of Insurers - José Galamba de Oliveira, President
We have gathered together some of the most highly respected professionals in the industry to discuss innovative solutions for the insurtech sector. These companies come from all over the United Kingdom to help you and your business!
Riskbook is an independent reinsurance technology startup, providing a radically better placement experience to cedents, brokers and reinsurers. Their team, combining reinsurance and software expertise, focuses on creating an exceptional user experience for global reinsurance practitioners. Flexible across all non-life products and lines of business, they enable the seamless flow of actuarial-grade data throughout the traditional value chain. Additionally, their networking functionality allows brokers and underwriters to easily communicate their appetite by Geography, Product and Line of Business and identify opportunities to grow their business and diversify their portfolios.
Established in 1995, Covernet are a leading provider of insurance software solutions.
Covernet’s flagship system, ‘ISMIS’, is a fully hosted, enterprise web platform that has been designed and built from the ground up to provide everything an MGA needs to sell and administer their own bespoke insurance products, no matter how complex or non-standard, and in any region, language or currency.
Highly functional, completely extensible, and supported by insurance technologists, it is unrivalled as an MGA solution. With a quarter century of experience supporting MGAs in the UK and with existing clients in Spain and Portugal, we are keen to explore new partnerships across Europe. They are excited to talk to MGAs and Insurers that are looking for a solution to help them grow their business, through innovating their operations, and maximising the value of their underwriting staff. Their solution can help support every aspect of your insurance operation including Sales, Pricing, Administration, Accounts, Claims, Enrichment Services, Regulatory Compliance, MI, Document Management and Workflow, so please come and speak to them to see how they might help!
Rightindem is an insurtech start-up founded in 2016. RightIndem allows customers a hassle-free claims journey, and carriers to optimise their work while reducing operational costs. Their goal is to help insurance carriers, TPAs and brokers to create a curated and hassle-free service for their customers when making a claim. They want them to be able to assess fraud easily, deliver an improved customer experience and reduce operational and indemnity costs while giving more time to their claim handlers to deal with complex claims.They have transformed the experience and economics of insurance by making the claims process seamless for customers, enabling them to engage digitally at a time convenient to them while safeguarding insurers against fraud, and providing an effective solution that allows for automation of key decisions when applicable. Their solution is about ensuring FNOL is simple for the customer whilst collecting rich accurate data which can be used to create automated claims settlement.
Flock is a UK based insurtech with roots in academia and data science. We launched Europe’s first 'pay-as-you-fly' drone insurance in 2018, and have since become the go to insurance solution for commercial drone operators. Our digital underwriting platform unlocked a range of data-driven insurance and risk management products in the drone industry and now we’re expanding to provide insurance solutions to the connected and autonomous world.
Areas of specialism:
- Commercial Drones/UAVs (from individual operators to global fleets)
- Motor fleets (launching publicly in the UK in Dec 2020)
Matrix Telematics was founded in 2001 when the telematics sector was focussed largely on the track and trace of vehicles. Matrix work across a number of sectors but focus on Light Commercial Vehicle fleet operators. This audience is reached in a number of ways but there is a focus on working with insurers because of the ability to monitor and reduce risk across these fleets whilst providing important crash notifications and risk analysis reporting to insurance partners.
Areas of specialism:
- Industry leading Telematics platform which presents data from Matrix devices, OEM factory fitted hardware as well as alternative telematics service providers.
- Connected cameras technology was first added to the Matrix service portfolio in 2015 and this has grown to over 30,000 connected cameras reporting live into the platform.
- Data analysis and intervention offers an end to end compliance and occupational road risk solution. Majoring on safety, DRiiVE supports partners by identifying risk reducing the exposure to risk and improving the overall fleet safety performance.
Founded in 2014, Tractable has a world-class research and development team with over 30 years of combined research experience. The company is based in London, with offices in New York City, Tokyo, Madrid, Paris, Munich and Bangkok. Tractable develops artificial intelligence for accident and disaster recovery. Our market-leading solutions use photos to automate auto damage appraisal, allowing insurers to improve accuracy, reduce turnaround times, and deliver a better experience for customers. Accident recovery starts with a visual appraisal of the damage to calculate repair costs - but those assessments can take days, or even weeks, creating unnecessary delays. With AI, you can accelerate every visual check across the claim - generating a response 10 times faster.
Previsico is a global provider of real-time street level flood warnings. These are produced using our state-of-the-art flood forecasting technology developed over two decades of at Loughborough University, together with key stakeholders including the Environment Agency and the UK Cabinet Office. The forecasting technology FloodMap Live uses live modelling to produce actionable forecasts which enable people and organisations to proactively mitigate flood impacts. Previsico supports underwriters in improving their loss ratios by taking consideration of the ‘preventability’ of flood losses when insureds are provided with Previsico’s actionable flood warnings. Previsico can help the insurers to mitigate against flood risk and reduce losses as well as claims costs.
INSTANDA is a fully digital policy administration platform that allows clients to build insurance products, distribute to multiple audiences, and maintain them through the complete insurance lifecycle. With INSTANDA's unique and flexible user interface, you can design, rate, underwrite, quote, bind, issue, and service policies for customers, agents, brokers, and wholesalers.
Whether digitising an entirely new business, building a new digital ecosystem around your existing business or simply migrating over multiple books and creating new product combinations and propositions, INSTANDA provides everything needed, from customer engagement, through to underwriter workbenches and full customer and policy servicing. With an open-source, modern API framework new capabilities can be created in weeks, all interconnected with the INSTANDA platform. INSTANDA works with the leading carriers, MGAs and brokers in UK, Europe, North America, LATAM, Africa, Middle East and Australia. INSTANDA is the Insurance Industry’s first no-code business platform and allows insurers to break into new markets as well as overcome the drawbacks of legacy IT systems and embrace the benefits of digital transformation.
The Floow designs the world’s most advanced and lowest cost telematic systems to make vehicles safer and cheaper for all. By combining data science and social science with cutting edge technology, the Floow are making mobility safer and smarter for everyone.
Kasko helps innovative insurers to shape the future of the industry. They offer API-powered agile insurance product and distribution platforms that operate between digital customer touchpoints and legacy IT systems. This allows insurers to think, design, develop and distribute insurance products in 4 to 8 weeks in a cost-efficient manner.
Paper is a white label mobile solution for your customer. It reduces the frictional and transactional costs. Our software will handle the KYC checks, reporting, policy issuance, premium handling and claims initiation process, all from your customer’s mobile phone. With just a few simple steps, leveraging existing and emerging technologies as well as multi-data source algorithmic power, we capture customer information and tailor the insurance for each policyholder. All done seamlessly on their mobile phone. Paper targets companies who are looking to enable their customer with technologies that are often taken for granted but underused, giving the freedom flexibility and control they deserve.
Insure Apps seeks to put technology in the hands of the customer. In the commercial insurance sector, the average time between a motor claim happening and being reported to insurers is 23 days. Using insure apps, brokers have seen their client’s day one reporting move from 22 days to less than one. Insure Apps has identified the key issues behind these delays and devised a solution which tackles both speed of reporting and the quality of the data provided. Additionally, insure apps seeks to standardise as much as possible the information sent to the insurance brokers and insurers making the handling of claims more efficient, once again driving down costs. It’s a win for the client, a win for the broker and a win for the insurer.
If you have any queries, please contact us!