Norton Rose Fulbright, a global law firm, is currently inviting entries for its seventh Insurathon, an illustrious competition that fosters innovation in the InsurTech sector by supporting start-up and scale-up technology businesses.
This initiative is not just a contest; it’s a cradle of technological advancements in the insurance industry, pushing the boundaries of what’s possible. Since its inception in 2017, the Insurathon has been a beacon of support, offering over £250,000 in pro bono advice and investment to burgeoning enterprises, nurturing them from raw ideas into market-shaping forces.
The stakes are high for the finalists of this year’s Insurathon. They are not only vying for a significant prize but also the invaluable guidance of Norton Rose Fulbright’s top-tier legal minds. The prize is twofold: £25,000 of pro bono UK legal and regulatory advice, tailored by the firm’s leading corporate and regulatory insurance practice lawyers, and a potential equity investment of the same amount. This dual offering underscores the firm’s commitment to not just nurture but also financially bolster emerging talent in the InsurTech landscape.
Moreover, all applicants of Insurathon are granted access to a 45-minute pro bono clinic, a unique opportunity to gain insights from the firm’s legal experts across various domains. This extends to finalists as well, who are eligible for three additional 45-minute legal clinics on the competition day, ensuring they are legally fortified to take their innovative solutions to the next level.
Norton Rose Fulbright is casting a wide net, seeking proposals from start-up and scale-up businesses that are architecting the future of insurance. The firm’s interest spans a broad spectrum: from insurance offerings that digitise the insurance value chain using cutting-edge technologies like AI, IoT, and analytics, to commercial (re)insurance market solutions leveraging platforms, augmented underwriting, and data analytics. They are also keen on novel insurance solutions, be it blockchain-based platforms, secondary trading platforms, or revolutionary information-sharing platforms, as well as products that dare to redefine the traditional (re)insurance business model.
The clock is ticking for businesses aiming to make their mark in this year’s Insurathon. The application deadline is set for March 5, 2024, and interested parties are encouraged to visit the Norton Rose Fulbright website for more details on the application process. The competition is fierce, and the finalists will be announced on March 8, 2024, with the grand finale scheduled for March 15, 2024. The past winners of the Insurathon, a prestigious list including InsurX, ARMD, Anansi, and others, bear testament to the competition’s status as a launchpad for InsurTech visionaries.
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