UK based insurtech Skyline Partners, whose technology powered weather insurance offering targets the global protection gap and plans to lunch its products in India in 2019, have recently secured funding to grow the business.
Accompanying the Lord Mayor of London Charles Bowman on his last week’s Indian trade mission, Skyline Partners announced their recently secured investment from OneAdvent, an MGA innovation hub.
Skyline Partners is a new technology powered weather Protection provider founded in 2017 and the insurtech’s inaugural weather insurance product, set to be launched in India in 2019, will provide affordable protection to the agricultural industry in the country.
The insurtech's founders, Gethin Jones and Laurent Sabatié, have spent the last year developing the technology-enabled insurance solution to give the underinsured an economical and reliable way to secure their sustainability.
“Our target customers are organisations affected by weather including agriculture, renewable energy, construction and transport,’’ said . Sabatié to Asia Insurance Post
Partnered with IBM and a panel of international reinsurers, Skyline use technology and independent data to restore trust, eliminate moral hazard and reduce cost of risk.
“Set to launch a pilot in Q2 2019, Skyline Partners’ inaugural weather insurance product will provide affordable protection to the agricultural industry in India. We have spent the last year developing the technology-enabled insurance solution to give the underinsured an economical and reliable way to secure their sustainability,’’said Sabatié.
Jones and Sabatié said: “We founded Skyline Partners to restore trust in financial protection and make it more accessible through technology and innovation. Our vision is to provide commercially viable and affordable insurance to the world’s underserved markets. We are delighted to work with OneAdvent and could not have found a better partner to deliver this”.
OneAdvent boasts over 20 years’ experience launching businesses in the insurance industry and will support the company in the development and distribution of their innovative product.
David Hill, CEO, OneAdvent, said “Skyline Partners’ unique technological offering is unprecedented in this space and will undoubtedly be a game changer in an industry that is at a crossroads. We are excited that both our investment and platform will provide them with the tools they need to break into the market.
Lord Mayor of London Bowman said: “I am delighted to hear that Skyline Partners has secured this investment. During the course of our visit to India there was lots of interest in their offer, and I look forward to hearing about the company’s future successes as a result of our trip.”