The convergence of technology and insurance is transforming the sector, driving organisational changes, new business models and investor appetite.
The result is that incumbent insurance companies are innovating, and new insurtech businesses are also entering the market.
Setting up and sustainably growing an insurtech business is a major undertaking. The range of issues that you will need to consider are extensive and there are no quick shortcuts. However, our team of experts can help you prepare and implement a strategy tailored to your unique circumstances.
PKF Littlejohn is widely recognised as a trusted adviser to the UK insurance industry, and has one of the most experienced teams of insurance specialists within the market. We can draw on our experience of helping clients establish and scale-up their own insurtech businesses to advise you on every step of your journey to setting up and running a successful enterprise.
We are proud to be a member of InsTech London, a fast-growing community of insurance innovators, entrepreneurs and investors.
PKF Littlejohn can advise you on:
- Structure – we can help you design an appropriate structure to match your aspirations and growth strategy, while considering the constraints of being a regulated entity
- Raising capital – we will prepare or ‘sense-check’ your forecasts, advise you on dealing with HMRC on EIS & SEIS investment allowances, and connect you with relevant investors and corporate finance houses
- People – we will advise you on how to attract and retain high quality, ambitious members of staff using cash and equity incentives
- R&D savings – HMRC can provide you with up to 26% of your R&D outlay back in tax refunds; we will help you manage your refund application from start to finish
- VAT & IPT – we can help you recover as much VAT as possible on your expenditure, as well as advise on the implications of Insurance Premium Tax (IPT)
- Compliance – Regulatory capital and client money can be secondary thoughts – but any mistakes in these areas can derail a business plan very quickly. We will help you avoid potential pitfalls
- Accounting systems – We can provide you with best practice guidance on setting up systems so you don’t have to reinvent the wheel.