Hiscox puts its money where its mouth is and offers entrepreneurial insurance ideas support.
Our sense at InsTech London is that a number of brokers and carriers are doing something similar with different degrees of internal and external publicity. It will be interesting to see what ideas come out of these processes that would otherwise never have flourished.
That’s the idea. We know that there are different ways to do things. And we also know that many smaller insurance brokers are extremely entrepreneurial with some great ideas. The problem is, they might not necessarily have the resources to bring those ideas to market. So, we put up a total of £500,000, and sent out a call for insurance entrepreneurs to come forward and present their ideas to us, dragons’ den style.