3 June 2021Insurance

AI matchmaking platform to connect insurance companies and charities

UK based AI matchmaking platform whatimpact has launched to connect insurance companies and charities to help implement CSR programmes in line with the new requirements in the Social Value Act (SVA).

The Procurement Policy Note that came into effect in January requires all companies that bid for public contracts to present a social value delivery plan and to report back on their social value impact, or risk losing their contract. As a result of the new procurement policy note, simply adding general corporate policies and corporate responsibility statements to a tender is no longer sufficient. Now, companies will need to deliver and evidence targeted social value improvements for the duration of the contract.

The end goal of the newly enhanced SVA is to deliver genuine social value through the government’s commercial activities. The UK government requests that all public contractors deliver social value on five key areas, which are split into eight specific policy outcomes including Covid-19 recovery, tackling economic inequality and fighting climate change. However, determining and evidencing social value is a time-consuming and confusing process for many companies, which is why whatimpact requires charities to report back to companies using their social impact reporting tool which is directly compatible with the eight outcomes and their specific award criteria.

whatimpact uses AI to match companies and grant-makers with charities and social enterprises in a strategic, efficient and transparent way. The platform matches organisations based on shared values, UN sustainable development goals (SDGs) and geographic needs across the country, so that companies can direct donations and skills to the organisations that need them most. Supporters (companies and grant-makers) can post resource offers (money, skills, product and service donations) on their public profile. Recipients (charities and social enterprises) can then apply for the resources they need. Both Supporter and Recipient profiles offer transparent data pulled from the Charity Commission, the OCSR, 360Giving and Companies House. whatimpact sets a new precedent in how Company Social Responsibility (CSR) and social value is established, managed, and reported on – all hosted on the whatimpact platform.

Tiia Sammallahti, CEO/Founder of whatimpact said: “We are here to help save time and money for both supporters (companies and grant-makers) and recipients (social enterprises and charities), ensuring that the most impactful causes and projects are delivered with maximum efficiency. This benefits society as a whole. whatimpact is a fully transparent marketplace where everyone has access to the site profiles and interactions. We not only help organisations match with each other but help them report and communicate their impact to the public and other stakeholders.”

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