Insurtech Isle of Man Acceleration program
September 2022 - January 2023
Global
The Isle of Man Fintech Insurtech Accelerator powered by Tenity is directed at cutting-edge Insurtech startups with enterprise-ready solutions. The goal is accelerating promising Insurtech companies by facilitating collaborations with leading insurance companies on the Isle of Man, as well as provide coaching & mentoring on a variety of topics in order to accelerate their growth.
Who is this for?
We are specifically looking for growth-stage Insurtech startups that have a proven and enterprise-ready solution within our focus topics of customer onboarding, policy management, and wealth management.
The Isle of Man is developing a welcoming ecosystem for Insurtech businesses and insurance carriers to develop and grow an international proposition. Already home to a successful and continually growing international insurance industry, with a highly regarded regulatory infrastructure, the Isle of Man is embracing the future by creating an Insurtech ecosystem.
This accelerator programme, in partnership with Tenity, with Isle of Man industry and government support, is an excellent opportunity for those ambitious in the Insurtech and Wealthtech space.
Addmin is a modern document management system democratizing access to advanced files’ organization for entrepreneurs, SMEs & high-demanding individuals while ensuring bigger companies and online services can custom-build on top of its privacy-proof platform.
Kidbrooke helps financial institutions such as banks, wealth managers and insurance companies provide engaging, seamless, and affordable financial advice allowing everyone to make educated financial decisions for their future.
Turns MiFIDII requirements into business opportunities by assessing clients' investment preferences, incl. ESG through behavioral finance and gamification.
KASKO provides insurers with an end-to-end modular platform, bringing their new or existing products to the digital market in the quickest and most cost efficient way
Regsearch is a free regulatory search engine, providing easy access to regulatory information from one location.
Spixii Conversational Process Automation (CPA) platform delivers powerful self-serve allowing prospects, customers and third parties to be more in control and do more without waiting on the phone or online for someone to reply to their query. Integrated with core systems, the automated conversations create personal journeys allowing organisations to efficiently deliver their high-value services online e.g. giving a quote on a product, opening an account, making a change or logging a claim on an insurance policy. Spixii platform provides real-time conversation and process analytics used for continuous improvement of the CX and operational performance.
All-you-need partner for onboarding servies like KYC, Identity Verification, KYB and open banking.
Automate data extraction from documents and workflows using powerful AI.
We look for early stage, pre-seed, pre-revenue startups that are currently raising or about to raise funding. We like to see a developed prototype or solution which has been validated, and ideally early traction.
Key Requirements / Perfect fit
-Sector:You are FinTech, InsurTech, RegTech,LegalTech startup or adjacent with use cases for financial industry
-Geography:Early-stage investing is local. We are looking for companies from:
CH: DACH, Western Europe and UK
NOR: Western Europe and UK
SNG: Singapore and southeast Asia
-Team: At least 2 co-founding members (working minimum 80% on the startup) and ideally complementary, who have worked together before
-Maturity: Pre-revenue You are in ideation stage, have a prototype or MVP You do not need to be incorporated before the start of the program
-Fundraising: You are pre-seed and plan to raise a funding round within the next 6 to 12month at a valuation anywhere between 2 and but not more than 4m.
You don’t have to be incorporated when you apply. But you have to incorporate within 30 days from signing the contracts.
For the Zurich program we mainly look for startups coming from the DACH,Western Europe and UK. If you are incorporated in any other country, you can still apply, but you may need to reincorporate in one of the before-mentioned countries to be accepted into the program.
For the Singapore program: we mainly focus on startups coming from Singapore and South-east Asia. For startups coming from other countries in the region, for example Indonesia, Philippines, Vietnam, Taiwan, Thailand, Hong Kong, we are happy to receive your application, but please be prepared to reincorporate in one of primarily mentioned countries in order to be accepted into the program.
For the Nordics & Baltics program we mainly look for startups coming from Western Europe and UK. If you are incorporated in any other country, you can still apply, but you may need to reincorporate in one of the before-mentioned countries to be accepted into the program.
For questions regarding the locations please contact the scouting team directly at scouting@tenity.com
Yes, definitely. And hopefully next time you will make it to the top teams.
Don’t worry, before the deadline you will receive a notification that you haven’t submitted your application.
If you have any issues with your application, please contact the scouting team scouting@f10.global.
Twice per year, the spring and in the fall again. Keep an eye on our website for updates!
No, you don’t have to be incorporated. But you have to incorporate by the first masterclass.
Step 1: Fill in the application form – it will take only 2-3 minutes – once submitted, you will receive an email confirmation.
Step 2: A few days after the deadline, the teams will be invited to an online info session where you’ll learn more about the program, our terms, next steps and you’ll have the opportunity to ask your questions.
Step 3: The top teams will be invited for our Speed Dating events in one of our hubs, after which we’ll select the final teams that will enter the program.
No, we only require that 2 cofounders are present during the 4 Masterclass weeks, but you are more than welcome to stay the whole 4 months if you wish.
No, the program includes more workshops than theory! And you will asked to apply what you learnt to your startup the same day. Also the program includes lots of events that can help you broaden your network and practice your pitching skills.
We don’t accept solo founders, but teams who have minimum 2 cofounders 100% committed on the startup.
The time commitment for the program is 4 weeks in total (1 week per month, for the duration of each masterclass week). At least 2 co-founders must be present during that time.
All co-founders must have astake in the company and represented on the cap table.
We have a standard deal for all companies joining one of our flagship incubation programs
We invest CHF 50’000 /SGD 70’000 in the startups selected for the program, in exchange for a small equity stake of 2,5% and a program participation fee of CHF 10’000 / SGD 15’000.
The program participation fee is due after receiving the above investment.
In addition, we may invest in a following round.
