London Fintech Week has arrived, with loads of exciting talent on show. Insurtech is a key theme at this year’s event, so we’ve looked at London’s hottest companies in the space. Here are the four we are most excited about.
Laka
Cycling has shot up in popularity, especially in cities. A cheaper, healthier and more environmentally friendly alternative to cars and public transport, cycling in London is up seven times compared to 1977. With so many people out on their bikes, scrapes and thefts are inevitable.
Fortunately, Laka is here to help. Their bullet-proof cover protects you against theft and damage, and the cover is very comprehensive. What’s more, the traditional hefty mark-ups of insurance firms of old are nowhere to be seen. 80% of what you pay goes towards helping fellow members who have damaged or lost their bike, and 20% keeps Laka running.
To date, Laka members have saved 62% on bicycle insurance, so get on your bike and have a look at Laka!
As the cockney inspired name suggests, Cuvva isn’t a fan of jargon, paperwork or being put on hold. To solve this, they have cut out the middlemen, scrapped the old and outdated systems and put it all in a helpful app.
Cuvva specialise in travel and motor insurance. They offer temporary car insurance, for as little as an hour up to 28 days, and you can extend the policy through the app. Their fast, flexible travel insurance for your foreign trips covers hundreds of destinations and covers over 150 sports and activities, so there’s no excuse to not enjoy yourself.
They haven’t skimped on the detail either, with 24/7, real human support, and comprehensive cover! Everything is done through the app including documentation and policy buying. So, before you head out on the road this summer, make sure you’re Cuvva’d.
Business insurance, sure, it’s not the sexiest topic, but get it wrong and that will be a costly mistake and for start-ups, it could be fatal. Fortunately, Digital Risks is here to help fast-moving scale-ups with flexible insurance solutions for new and existing risks they face.
Their flexible subscription-style policies allow companies to cancel or change policies at a month’s notice and offer businesses the perfect cover for them. Combining industry-leading, bespoke products with technology means they can offer lower premiums for more comprehensive cover. The 24-hour support and fast settlements make them perfect for any business.
An insurtech company providing much-needed innovation to insurance companies themselves, Quantemplate is a London-based insurtech firm specialising in machine learning, data transformation and analytics.
Founded in 2012, it’s since announced a significant Series B round following £2.5m Series A in Dec 2017, raising over £10 million total investment raised since its inception.
Quantemplate provides a data transformation and analytics suite powered by machine learning, enabling insurers to expand their business, cut costs, and ultimately drive digital transformation.
They work with leading reinsurance, P&C and life insurance companies, with an impressive suite of clients names on their books.
If you’re a technology company interested in how we can help raise your profile, please get in touch today.
