Insurtech Isle of Man has announced a joint Acceleration Program with F10 for growth-stage Insurtech startups.

The Isle of Man is a renowned insurance centre, with the sector representing the biggest financial services sector on the Island, encompassing a wealth of knowledge and expertise.

F10 is a global innovation ecosystem that supports early-stage Fintechs and Insurtechs by connecting them with experts and mentors.

The Acceleration Program builds on the Isle of Man’s experience as a well-established hub of insurance expertise and will strengthen the island’s leadership and reach in Insurtech and innovation internationally, supporting promising startups looking to collaborate with established insurance players in the region.

The program will begin this September and run for four months. Startups chosen to take part will receive coaching on open innovation and collaboration best-practices, personalised mentoring, as well as the opportunity to work with leading insurers.

They will also have the opportunity to access the F10 global network with access to sessions on a variety of topics crucial to scaling their business, including marketing, branding and sales.

Insurtech Isle of Man and F10 are focused on identifying and admitting Insurtech startups in the following core areas: wealth management & investment, customer onboarding, and issuance and management of policies. The focus of the program will be high impact solutions with the potential for Insurtech startups to collaborate with leading insurers in the region.

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The program will include high-visibility pitching opportunities for participating startups during the Scotland Fintech Festival, taking place this autumn, as well as the final Demo Day event to conclude the program.

Michael Crowe, CEO of Finance Isle of Man, said: “We are delighted to formally launch applications for our first Insurtech Acceleration Program on the island, in partnership with F10 and our Government-funded initiative, Insurtech Isle of Man.

“The maturity and scale of the existing insurance sector on the Island offers a gateway to a global market for Insurtech businesses and this program will enable participating start-ups to deliver high-impact solutions in collaboration with some of the region’s leading insurers. There is a clear potential for Fintech in the insurance landscape and the Isle of Man is well-positioned as a hub for this innovation.”

Insurtech Isle of Man and F10 are now accepting applications and interested startups are invited to apply.

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