InsurTech get fit for the future with PwC’s Scale programme

PwC has launched its 2022 Scale InsurTech cohort, the third group of innovative InsurTechs to join the programme, which curates partnerships, co-creation and collaboration between InsurTech and large insurance institutions keen to tap into new ways of driving profitability, growth and innovation.

Fourteen companies are included in this year’s cohort, specialising in a wide range of technologies such as cloud based data solutions, aggregation platforms, claims optimisations and weather risk management.

The programme is delivered in collaboration with GrowthBuilders and is designed to gather Insurance industry leaders and scale-up disrupters to work closer together to drive innovation in the market.

Having run more than 50 Scale Programmes in the UK working with more than 500 scale-ups, PwC’s Scale offering of three core components is proven to accelerate growth by tapping into PwC’s corporate network that stretches around the globe; exploring opportunities with PwC leaders who work with the biggest FS brands; and upskilling and developing scale-up teams through a world-class business growth curriculum.

The programme is delivered over 12 weeks with the business curriculum covering topics such as sales and marketing, operational growth, professional readiness, valuations, leading through growth and exposure to financial service specialisms. The cohort itself is curated around PwC’s large client challenges which brings through highly relevant solutions to drive opportunities for both.

Glynn Austen-Brown, PwC Scale | InsurTech Programme Sponsor, commented:

"Insurance is changing more rapidly than ever before. Regulation, climate change, technology enhancements, and changing customer expectations on service and digital experience, are creating an opportunity for Insurers to play a much more pivotal role in how people and companies manage their busy lives and unique risk profiles.

Utilising and partnering with innovative, scaled Insurtechs will allow Insurers to accelerate their own transformations to better exploit new ways of working, more personalised experiences, and the creation of broader ecosystems and platforms. 

The time has never been better for Insurtechs and Insurers to work together in enhancing the social purpose and utility of the insurance sector. This cohort of Insurtechs have been handpicked by us based on our view of their impact and their ability to drive lasting change across insurance."   

Ends.

Notes to editors

The PwC Scale InsuTech 2022 cohort of businesses are:

InclusionScore is the standard D&I Operating System™ that helps define, audit, and workflow organisational Diversity & Inclusion across a firm's Governance, HR, Product Delivery, and Supplier Diversity. 

DEITA enables a seamless insurance ecosystem through blockchain data partitions utilising machine learning

Finlex is a platform & digital ecosystem for Financial Lines & Cyber Insurance

Send help’s insurers streamline operations, drive savings and work smarter with an AI-enriched Underwriting Workbench. 

Nuon’s vision is to use AI at every stage of the insurance product lifecycle.  From market pricing, predicting claims frequency and severity through to customer renewals.  

ClaimDeck™ provides Industry-leading solutions for modernising the litigation process.

INSTANDA is the World’s most advanced digital insurance platform

Rnwl is building the only insurance app you will ever need

nSurley is a connected data platform for Insurance companies

Virtual i is a [VRS]™ - Virtual Risk Space - an AI-backed Risk Management and Underwriting platform. 

Omni:us streamlines the claims handling process by deploying artificial intelligence (AI) to automate workflows across various lines of business.

Hx Renew is the next generation pricing modelling software for speciality and commercial insurance.

Soleadify is the Next-Generation Insurance data to enable improved classifications and consistent evaluation of commercial businesses.

Weather Stream empowers humanity by managing environmental risk with real-time global weather intelligence

About GrowthBuilders

GrowthBuilders supports scale-up/corporate collaboration through hands-on business insight, connections to commercial opportunities and a network of expertise and experience, to grow lasting ventures, quicker. 

For more information about GrowthBuilders please visit the company website www.growthbuilders.io

About PwC

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 156 countries with over 295,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at PwC.

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see how we are structured for further details.

© 2022 PwC. All rights reserved.