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Events > UK-CT InsurTech Corridor Overview & Application Page
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UK-Connecticut InsurTech Corridor
Overview & Application

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The UK-Connecticut InsurTech Corridor is a commercial collaboration to develop InsurTech trade opportunities as part of the broader US-UK Financial Innovation Partnership (FIP).

The primary objective of the InsurTech Corridor is to remove barriers US and UK InsurTechs face when entering and expanding in each respective market in order to facilitate traction and growth.

Through close collaboration between the UK Department for International Trade, CT IFS (Connecticut Insurance and Financial Services trade association) and InsurTech UK, the InsurTech Corridor will help participating US and UK companies:

  • Increase their knowledge of each respective market
  • Access resources and make valuable connections to accelerate their business growth
  • Connect with business development and investment opportunities
  • Streamline US and UK market entry by leveraging the local insurance ecosystems

The creation of an insurtech corridor was formalised on March 10th, 2022 following the signing of an agreement between DIT and Connecticut to develop an online platform of resources for launch later that same year.

Uniting Two Global Insurance Capitals

The UK insurance sector has developed a world-leading reputation for best practice and innovation. Benefitting from a digitally advanced home market, a first-class regulatory regime, an abundance of talent, and access to the 4th largest global insurance market in the city of London, the UK houses Europe’s biggest and most dynamic ecosystem for insurtech start-ups and scale-ups. The State of Connecticut by comparison has one of the oldest and largest insurance industries in the US. Often nicknamed, “The Insurance Capital,” more than 100 different insurance companies call Connecticut home. The State maintains the highest percentage of insurance jobs per capita, and ranks among the top three in net premiums written. Its capital city of Hartford is a historic international center of the insurance industry, home to companies like Aetna, Conning, The Hartford, Prudential, Travelers, AXA, and Nassau Re. As a result, Connecticut has also developed a thriving insurtech ecosystem and rates as the top destination for US market entry.

For questions related to the InsurTech Corridor, please contact:  
InsurtechCorridor@mobile.trade.gov.uk 

Non-insurance firms including professional service providers, investors, media, as well as organizations or individuals interested in becoming a strategic partner or mentor for the program, or to simply learn more about the program itself, are also encouraged to contact:
InsurtechCorridor@mobile.trade.gov.uk.

 
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To access these resources at launch, companies will need to register their interest through the following application and be accepted into the program.

There is no cost to apply or participate in the program. To qualify for acceptance, companies must meet the following criteria:


How to Apply
Companies interested in overseas expansion can apply to utilize the Corridor, provided they meet the application requirements and complete a two-stage approval process. The first stage is the application, which can be accessed through one of the below links depending on your direction of travel. Approved applicants will then be asked to present their company virtually to the selection panel before acceptance into the program. Once accepted, companies will have access to a full host of online resources, as well as mentor and investor networks, and a myriad of trade promotion activities.

Applications for the first cohort will remain open until 11:59 pm ET April 29, 2022. All applicants will be notified by May 6, 2022 whether they have been selected to proceed to the second stage of assessment.

Successful applications following the second round should expect to be notified in late May alongside the anticipated launch of the online platform. Following the launch of the program, companies can continue to apply on a rolling basis for approval into the second cohort in fall 2022.


UK companies

  1. The company must have a registered presence in the UK.
  2. This programme is designed primarily for companies with solutions relevant to the insurance industry. Applicants must have a deployed product or service and will need to demonstrate value to the insurance sector.
  3. The company must demonstrate a strong interest in the US market and have the resources to participate in Corridor activity, which includes but is not limited to both virtual and in-person events, 1-1 meetings, and mentor/mentee development.
  4. There is no minimum company size requirement and we encourage companies of varying stages to apply: pre-revenue, growth and mature.
  5. UK companies register here


US companies

  1. The company must be headquartered in the US with preference given to firms headquartered in Connecticut, or with an existing presence or interest in the state.
  2. This programme is designed primarily for companies with solutions relevant to the insurance industry. Applicants must have a deployed product or service and will need to demonstrate value to the insurance sector.
  3. The company must demonstrate a strong interest in the UK market and have the resources to participate in Corridor activity, which includes but is not limited to both virtual and in-person events, 1-1 meetings, and mentor/mentee development.
  4. There is no minimum company size requirement and we encourage companies of varying stages to apply: pre-revenue, growth and mature.
  5. US companies register here

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