Partnering with Insurtechs
Digital Partners™ and Insurtechs
We tailor our approach to each partner, drawing on the broader Munich Re ecosystem of services to meet the partners needs.
- Advice & Counsel with Subject Matter Experts
- Portfolio Fit
- Contractual agreement
- Customer needs
- Project set up
- Product structure & design
- Dedicated partnership manager as point of contact
- Risk modelling
- Establish compliance, finance and operations
- Access to capacity
- Regulatory structuring
- Real-time data to drive performance post launch
- Regular meetings
- Performance monitoring
- Identify changes
As a front runner in the digital transformation of the insurance industry for Munich Re Group, Digital Partners™ fully supports the Pledge in its aims to promote meaningful collaborations with insurtechs and more broadly, we acknowledge the valuable contribution that Tech Nation brings to the Fintech & Insurtech sector in the UK. We are delighted to be part of a global leading standard of transparency across the UK Insurtech ecosystem to help exciting, emerging businesses in the sector to achieve scale, and to create an innovative environment for further developments to the benefit of UK consumers
The Fintech Pledge
The Fintech Pledge is part of a wider fintech strategy across the UK, supported by the UK Government and Tech Nation, to ensure that the UK is the best possible place to start and scale a financial services technology firm. The Fintech Pledge supported by HM Treasury and developed by the Fintech Delivery Panel, sets standards for the establishment of efficient and transparent commercial partnerships between financial institutions and tech scaleups.
In April 2021 Munich Re and Digital PartnersTM joined others from the insurance sector as signatories of the pledge to demonstrate their commitment to keeping the UK at the forefront of financial innovation by strengthening their partnerships with tech scaleups.
Signatories like Digital PartnersTM are committed to ensuring that the UK is the best place to start and grow a technology business. The growing success of UK insurtechs has been largely attributed to the creative ways they address customers’ insurance needs in an increasingly digital economy, opening up new opportunities across the whole of the insurance value chain.
The 5 principles of the pledge:
- To provide clear guidance to technology firms on how the onboarding process works through a dedicated online landing page
- To provide clarity to tech start-up firms on their progress through the onboarding process
- To provide a named contact, guidance and feedback
- To encourage good practice and improvement
- To commit to implementing this process 6 months from signing the pledge, and providing bi-annual feedback in the first year