Lloyd’s approves Beazley-backed Digital Risks as a coverholder
UK-based insurtech startup Digital Risks, a digital-only insurance broker, has achieved Lloyd’s coverholder status, enabling it to cover more specialist risks and insure UK businesses that trade internationally.
Digital Risks is backed by specialist insurer Beazley, which also participated in its latest £2.3 million funding round.
Digital Risks offers insurance cover entirely online with a flexible monthly subscription model, and is targeting the digital startup and SME markets. Its existing products are backed by the underwriters, Aviva and Tokio Marine HCC.
Cameron Shearer, CEO of Digital Risks, said: “Becoming a Lloyd’s coverholder is a huge milestone for the business. We can now diversify our offering to provide greater cover for the emerging risks faced by fast-growth digital SMEs, while better supporting the growing number of UK businesses with international exposures.
"This status allows us to work even more closely with Beazley and The London Market on new innovations, including developing offerings for international markets in the near future. With their support, we look forward to announcing a range of new policies throughout 2019.”
More of today's news
UK closes terrorism insurance gap with Royal Assent Catastrophe hits Arch in Q4 but year end income is up Top executive departs SSL Endeavour amid management shake-up Assurant’s acquisition of TWG makes for healthy 2018 results Pioneer poaches cargo underwriter from Pembroke
