Weather insurtech secures funding

Rain falling on an umbrella.

Skyline Partners, a UK-based insurtech that utilises a blockchain-powered platform to provide parametric weather insurance, has secured funding from MGA innovation hub OneAdvent, which it plans to use to grow its business. The insurtech plans to launch its inaugural solution in 2019, targeting India’s agricultural industry with an affordable protection scheme.

“Our target customers are organisations affected by weather, including agriculture, renewable energy, construction and transport,” said Founders Laurent Sabatié and Gethin Jones. “We founded Skyline Partners to restore trust in financial protection and make it more accessible through technology and innovation. Our vision is to provide commercially viable and affordable insurance to the world’s underserved markets. We are delighted to work with OneAdvent and could not have found a better partner to deliver this.”

OneAdvent CEO David Hill called Skyline Partners’ offering ‘unprecedented in this space’: “[It] will undoubtedly be a game changer in an industry that is at a crossroads. We are excited that both our investment and platform will provide them with the tools they need to break into the market.”

Skyline Partners recently accompanied Lord Mayor of London Charles Bowman on a trade venture to India, where the successful funding was announced; according to Bowman, a great deal of interest in the insurtech’s offering was expressed during the visit. “I look forward to hearing about the company’s future successes as a result of our trip,” he said.