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Insurtech Isle of Man Acceleration program

September 2022 - January 2023
Global

A cutting-edge program focused on accelerating the most promising insurtech startups

Benefits

Dedicated Coaching & Support

Beyond masterclasses and input sessions, our dedicated coaching is what makes the difference. You'll have someone in your corner that will challenge and guide you through the process.

Global Introductions

You are joining a growing global ecosystem of startups, corporates, and investors, and you'll have many opportunities to make connections. During the program, but also after.

Be part of a unique Community

Not only a close community with all the participating startups in the program, but also connections to established world-leading climate fintechs from the region.

The Isle of Man Fintech Insurtech Accelerator powered by F10 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.

What
Accelerate ambitious Insurtech startups by facilitating collaborations with leading insurance companies on the Isle of Man.
When
From September 2022 until January 2023
Where
Isle of Man

What to expect?

About Isle of Man Insurtech

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 F10, with Isle of Man industry and government support, is an excellent opportunity for those ambitious in the Insurtech and Wealthtech space.

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What we'll cover

Each Masterclass has a main focus, but will also cover other important topics for your development.

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Requirements

The startups

Addmin

2022
Switzerland

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

2022
Spain

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.

Neuroprofiler

2022
Switzerland

Turns MiFIDII requirements into business opportunities by assessing clients' investment preferences, incl. ESG through behavioral finance and gamification.

KASKO

2022
Global

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

2022
Global

Regsearch is a free regulatory search engine, providing easy access to regulatory information from one location.

Spixii

2022
Global

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.

SignD Identity GmbH

2021
Switzerland

All-you-need partner for onboarding servies like KYC, Identity Verification, KYB and open banking.

Staple

2020
Singapore

Automate data extraction from documents and workflows using powerful AI.

Meet
the team

Magdalena Tuta

Magdalena Tuta

Program Success Lead

Meet
the mentors

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Have questions?

Reach out to our global scouting team

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FAQ

How do I know if my startup is a good fit for the program?

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.

Do we need to be incorporated and which countries do you accept applications from?

You don’t have to be incorporated when you apply. But you have to incorporate by the first masterclass.

For the Zurich program we mainly look for startups coming from the DACH region, UK, US, and Europe. 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, South Korea, India, Australia, and New Zealand. 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 questions regarding the locations please contact the scouting team directly at scouting@f10.global

We applied and got rejected recently can we apply again?

Yes, definitely. And hopefully next time you will make it to the top teams.

I started an application but didn’t submit it. What happens?

Don’t worry, before the deadline you will receive a notification that you haven’t submitted your application.

We have technical problems with submitting our application

If you have any issues with your application, please contact the scouting team scouting@f10.global.

How often do you open applications?

Twice per year, the spring and in the fall again. Keep an eye on our website for updates!

Do we need to be incorporated before applying?

No, you don’t have to be incorporated. But you have to incorporate by the first masterclass.

What is the application and selection process?

Step 1: Fill in theapplication form – it will take only 2-3 minutes – once submitted, youwill receive an email confirmation.

Step 2: A few days after the deadline, the top 50 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 25 teams will be invited for our Speed Dating events in one of our hubs, after which we’ll select the 15 teams that will enter the program.

We typically receive 200-250 applications per batch and we only invite the top 30 to the interviews. Only 10-15 teams make it into the program.

Do I need to be present during the whole 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.

Is the program only theoretical?

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.

Do you accept solo founders and who needs to participate in the program?

We don’t accept solo founders, but teams who have minimum 2 cofounders working 100% 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.

What are the conditions of the program?

We have a standard deal for all companies joining one of our flagship incubation programs in 2023 (Zurich Batch X, and Singapore Batch V).

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 up to CHF 500’000 in a following round, with a warrant to invest up to CHF 1m over three years.

Disclaimer: This investment is currently conditional on the date of first closing of our seed fund and go-live early 2023. But don’t worry, you’ll have clarity on the conditions before committing to the program and signing the contract.