Insurtech Superscript announces expansion into Netherlands
The UK insurtech Superscript has announced its expansion plans into the Netherlands following approval by Dutch regulator AFM, which will authorise the company to operate across the EEA.
Superscript, which facilitates cover for SMEs, is branching into the Netherlands following its strong growth in the UK, where it has grown five-fold over the past 24 months, and doubled its employee headcount. Early this year, Superscript relaunched its advisory proposition as a digital-first service. It also follows the unveiling of Daylight, Superscript’s specialist product for digital asset businesses - and the first such product released by a Lloyd’s of London broker.
Superscript is a disruptive insurtech
Superscript is the first UK insurtech to become a Lloyd’s of London broker. The insurtech’s online offering provides tailored, flexible, subscription-based insurance for small businesses, sole traders and freelancers in a matter of minutes. The advisory service, SuperscriptQ, insures fast-growth tech sectors with emerging risks through a team of expert in-house brokers.
Superscript driving insurtech leadership in Europe
According to reports, the expanding team of insurance experts is based out of Superscript’s Rotterdam office and are servicing European tech clients such as: Chiliz; Safello; and Liva Healthcare.
As part of the move, Supercript’s advisory service, SuperscriptQ, will be helping the next leaders in Europe with emerging technologies secure the right cover. The focus will initially be on medtech, fintech, and digital asset businesses, before expanding its scope to other high-growth tech sectors.
Data shows that SMEs make up 99% of all businesses in Europe, with an estimated 22.6 million in operation, bringing in €3.5trn - over half of Europe’s GDP*. Despite this, European SMEs are significantly underserved by insurers. This represents a significant opportunity for insurers that can serve their needs properly.
Speaking about the move, Cameron Shearer, Co-founder and CEO of Superscript, explained, “Small and high growth businesses have traditionally been underserved by the European insurance industry. Particularly in the emerging tech space, finding access to the right advice and covers is exceptionally difficult and often carries high premiums. Superscript’s digital-first approach, underpinned by proprietary tech, is transforming this process for these businesses.
He continued, “In the UK, we’ve made great strides disrupting business insurance. The Netherlands is the natural next step for us because it has the ideal combination of a strong regulatory body, a large insurance industry, and a thriving startup ecosystem.”
Shearer added, “By combining our EU and UK footprint, we will now be able to leverage even more capacity to help ensure customers get the best outcomes. I am excited for what the future holds.”
