PriyaPatel
TLDR:
- Insurtech UK publishes roadmap for future growth
- UK is a global leader in insurtech with potential for further expansion
Insurtech UK has released a roadmap for the future of the sector, highlighting the success of the UK economy in the insurtech industry over the past decade. The UK boasts the world’s second largest insurtech cluster with a value of over $20 billion and contributes nearly £5 billion to the UK economy. The roadmap emphasizes the need for a positive policy environment to support and scale UK insurtech companies, enabling more new entrants and facilitating funding for growth. With the UK’s strong standing in the global financial stage, the roadmap aims to accelerate international expansion and unlock opportunities for further scale.
The CEO of Insurtech UK, Melissa Collett, stressed the importance of supporting and scaling UK insurtech companies, particularly in their journey to international expansion. The roadmap also calls for a better funding environment to attract more investors, both from the UK and overseas, to drive the sector to even greater heights.
Overall, the roadmap sets out a plan for policymakers to strengthen the UK’s position as a global leader in insurtech, harnessing the sector’s potential for innovation, consumer benefit, and expansion. By providing the necessary support and enabling environment, the UK can continue to thrive in the dynamic and rapidly evolving landscape of insurtech.
