Digital Risks

  • FOUNDING YEAR: 2014
    LOCATION:
    United Kingdom
    Last Update: 07 1D,42e c
    Company priority:
    We're on to something big this year!
  • Digital Risks provide a range of commercial insurance products designed to meet the evolving needs of technology and media businesses. Digital Risks is the insurance provider for tech and media businesses.
    Digital Risks (www.digitalrisks.co.uk) is a specialist insurance provider that focuses 100% on the needs of digital businesses. Partnering with leading underwriters, we’ve developed cover for today’s complex and evolving technical risks, with a subscription model ideally suited to start-up and small businesses.
  • MEDICI analysts will analyze Digital Risks soon
    Tell us briefly about the ecosystem your company operates in: Digital Risks is a specialist insurance broker, with established delegated authorities with Aviva, HCC and DAS, plus agencies with 12 others. Our products are primarily aimed at UK start-ups, micros and SMEs in software development, IT services, advertising, publishing and media, representing at least 350,000 businesses. We have developed both an online and offline account managed insurance offering, to meet the evolving needs of businesses as they grow. We also work with distribution partners so customers can buy their insurance at the point of risk generation, e.g. cyber insurance with an online backup solution, further boosting awareness and accessibility. We've arranged our first distribution partnerships with organisations such as Companies Made Simple, industry leader in company formations, maximising our technology, which integrates seamlessly with third party systems. We are an active member of the Tech City community in London, working with some of the leading digital and insurance minds, and our profile is rising, with our commercial partners promoting us internationally as a best practice case study for the new digital-broker model. Our Insurance Director Ben Rose is also a mentor for Startup Bootcamp's InsurTech programme and was recently invited to 10 Downing Street to discuss insurance innovation. What keeps you up at night? What keeps you going? It's an amazing time to be part of the InsurTech industry and Digital Risks is a big part of that conversation. Commercial lines is one of last remaining areas that is lagging behind in terms of innovation and we’re passionate about making life easier for start-up and small businesses. The risks businesses face today have evolved. Fires and flood are no longer a concern. The issue now is much more technical - data, security, IP. Yet, when it comes to buying insurance for the digital-native business, the options are limited, businesses don’t understand what they need and there's certainly plenty of room for improvement on the product-front. Too many brands forget that with business insurance, you're still communicating with a person, which means the experience is not as personal or engaging as it could be. At Digital Risks, we're not just tackling the legacy and digitisation issues of insurance, we're also tackling the branding stigma that insurance is boring - it's not! Are there any key opportunities or challenges that you can share with your colleagues in the industry? Our innovative offering means we’ve spent time working with underwriters to refine our products, overcoming a number of issues, including re-defining annual products to fit a monthly subscription model – we are one of Aviva’s first schemes of this kind – tackling the compliance, policy wording, financial and accounting implications. We have also fought to maintain our brand consistently across all products – e.g. in policy documentation - a crucial step in building our position as the market authority.
    Author: Ben Rose
  • FOCUS

    PRODUCTS & SERVICES:
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    PRODUCTS & SERVICES:
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    REVENUE MODEL:
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    TOP PROBLEM SOLVED:
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    PRODUCT DEVELOPMENT STAGE
    Eor0N VBO .DY2
    PRIMARY CUSTOMER TYPE
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    STRATEGIC CLIENTS AND PARTNERSHIP
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    PEOPLE

    FOUNDERS:
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    NUMBER OF EMPLOYEES:
    -110
    FOUNDERS:
    Cameron Shearer, Ben Rose, Annabel Mekelenkamp
    NUMBER OF EMPLOYEES:
    110-
    KEY EMPLOYEES:
    CEO: Cameron Shearer
    CTO: Alex Haproff
    COO: Annabel Mekelenkamp
    CRO: Ben Rose
    Marketing Manager: Charlotte Hall
    Account Manager: Edward Ventham
    TEAM COMMENT:
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    BOARD MEMBERS:
    Mike Dodd, Lucy Viggers
    ADVISORS:
    Jasper Martens

    TRACTION

    Insufficient information for accurate analysis
    NUMBER OF TRANSACTIONS:
    003
    TRANSACTIONS VALUE:
    K02
    ACTIVE USERS/ACCOUNTS:
    100
    LIVE USERS/TRANSACTIONS:
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    How will you grow the number of users/accounts/transactions?
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    MOMENTUM

    Insufficient information for accurate analysis
    FUNDING COMPLETED:
    ESDE
    TOTAL FUNDING:
    0
    LISTED:
    ON
    FUNDING SERIES:

    FOR INVESTORS

    USES OF FUNDS RAISED
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    EXIT STRATEGY
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    COMPETITORS
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    RELATED MARKET RESEARCH


    DIGITAL RISKS VALUE CHAIN - INTERACTIVE SECTOR MAPPING

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