The Insurtech Gateway, the London-based FCA-authorised insurtech incubator, is to launch in Australia, and will be led by Australian entrepreneur and newly appointed company CEO Simon O’Dell, with backing from Envest
Insurtech Gateway Australia will provide insurtech startups with a platform on which they can find underwriting paper, investment capital and advice on how to design and build their business, all while being able to network with great insurance partners. Graduates that access the service will have access to both Gateway Fund and Envest – Envest has over 20 traditional insurance businesses in their portfolio and five insurtechs, having supported 10 of these businesses as startups.
“We share a belief that high-scale insurtech businesses will come from Australia,” said Insurtech Gateway Co-Founder Stephen Brittain. “We’re trying to keep up with the ambition of a country that thinks globally from day one and was the home of startups like Trov, Atlassian and Xero. The Gateway will connect Australian entrepreneurs with a global network of ambitious founders and investors. This is just the beginning; we’re going to expand into Asia and other key international markets”.
The new service will provide pre-seed funding and a high-touch 12-week programme with ongoing support. It will be headquartered in Stone and Chalk Sydney, with offices in Queensland.
“Insurtech is a fast-growing part of Australia’s fintech ecosystem, but bringing new ideas to market can be extremely challenging due to complex regulatory hurdles and access to customers,” O’Dell added. “We are rolling out a proven