Insight with Filippo Sanesi, Head of Research and Partner Management, Startupbootcamp: InsurTech
What is the most impressive fintech start-up you’ve come across in the past 12 months and why?
AdaptReady because of their commercial lines approach, Insure a Thing and Thoughtonomy because they use robotic process automation which is helping organisations to cut operational costs.
What would you rank as the top 3 challenges faced by start ups and scale ups as they plan for growth?
1) Access to capital
2) Access to data in order to create pilots and proof of concepts
Are we any nearer to seeing the full impact of Brexit on the fintech sector? If so, please share your view on what the best outcome for the fintech sector would resemble?
No, I don’t think we are any close to identifying the full impact of BREXIT but I don’t think it will impact global fintech as much. This year we had a 116% rise in applications from Asia and a 46% rise from the EU.
Where do you think London ranks now, among the various global fintech hubs?
London is still first place, then Singapore and New York.
Do you believe there is more or less collaboration between fintechs and financial institutions than there was three years ago? Please comment or give examples if you are able to.
There is more collaboration in insurtech but still a lot to be done and achieved.
On a scale of 1-4 score the following technologies based upon their potential to transform the financial services industry:
2 – Blockchain | 1 – Artificial Intelligence | 3 – IoT | 2 – Cloud | 2 – Mobile Internet
Based on your experience, what advice would you give to young entrepreneurs starting their careers in fintech?
Go for it and be prepared to work from the bottom-up.