Insurance for digitally native startups and SME’s
Digital Risks is a FinTech business, intent on disrupting and setting new industry benchmarks by delivering online specialised insurance and risk management solutions for digital businesses. It brings things online, enhances cover and empowers the customer. Digital Risks provide a range of commercial insurance products, designed to meet the evolving needs of tech and media businesses. With years of industry experience, the team works directly with underwriters to provide competitive and effective insurance solutions. Digital Risks is directly authorised and regulated by the FCA.
PRODUCTS & SERVICES
Digital Risks is an online insurance provider, with products designed specifically for the growing risks of tech and media start-ups and SMEs. In contrast to other online providers, we match key policy components with individual underwriter’s risk appetites to deliver a superior cover at a more competitive price. Our subscription-style offering means there is a lower barrier for early stage start-ups and users can take control of their policies through our online platform. In our capacity as a broker, we can seamlessly transition clients to an account-managed service as their business outgrows the online products.
Quality, affordable and flexible cover is not easily accessible for start-ups and SMEs. High-administration and low-premiums do not make it economical for traditional brokers to service. Existing online providers provide a very ‘generalist’ cover, which is not designed for service businesses with digital infrastructures. We have established commercial agreements (binding authorities) directly with underwriters, allowing us to deliver tailored insurance products completely online and via a subscription-style payment model. We’ve worked directly with underwriters to ensure our policies cover emerging technical risks.
Digital Risks retain a percentage of all premiums plus charge a fee for advised services. The business will generate revenue from the following channels: 1) Non-advised, online client sales: high volume, lower premiums, client managed; 2) Advised, tailored policies: larger CPA, higher premiums, broker-managed; 3) Reseller Partnerships: extending non-advised sales to approved 3rd party marketplaces.
Early investors will have the opportunity to exit through a buyout, recapitalisation during future funding rounds or potential IPO.