The first ever Insurtech Accelerator Program on the Isle of Man was completed with a demonstration day for scale-ups. F10 was the partner in the program. It aimed to bring together cutting-edge technology firms from around the world and the Isle of Man insurance industry. Seven scale-ups representing Europe, the UK, and Singapore participated in the program, which showcased innovative technologies that could transform the insurance industry.
The demo day gave the companies the chance to show off their innovations in front of 160 people from seven countries, including the Chief Minister of the Isle of Man the Hon Alfred Cannan MHK, and senior executives from Willis Towers Watson. Scale-ups were also able to present their technology to executives from different sectors, including accounting, legal, eGaming and pensions. It was clear that the technology has applications beyond insurance.
The four-month program provided the opportunity for participating companies to receive personalized mentoring and coaching. They also had the opportunity to work with top insurers like Utmost Wealth and Zurich International. The program encouraged collaboration among the companies with some of them expected to form joint ventures later on.
Michael Crowe (CEO of Finance Isle of Man) expressed delight at the program’s success, and stated that the Isle of Man was a great place to help fintech startups and scale-ups develop and test products. Marc Hauser (head of F10 Europe) praised the achievements by the ministry, participating insurance firms, and startups, and expressed his excitement for the future.