Stubben Edge, one of the leading insurtechs for the broker market, is delighted to announce a new partnership for growth that will see Stubben Edge take ownership of Akoni Hub, subject to FCA approval.
Stubben Edge is a technology-based financial services group that enables intermediaries and their clients to make easy decisions about their risks and how to protect or save against them. Its one-stop-shop “brokerage in a box” platform empowers regulated intermediaries to better serve their customers with a powerful mix of AI-powered analytics, data enrichment and cutting-edge technology coupled with a huge range of financial products across every sector and the ability to offer localised, personalised customer rewards and discounts. Stubben Edge Risk has compiled a selection of niche and complementary products across all sectors that cover the gaps that big insurers either can’t or won’t service.
The deal will see Akoni’s cash management service added to Stubben Edge’s insurance and financial services products. This will enable brokers to manage their business cashflow better, develop products to market more quickly and accelerate growth.
Akoni client relationships are highly complementary to Stubben Edge’s existing distribution. Together, the two companies will service thousands of intermediaries across insurance broking and wealth management. Together, Akoni and Stubben Edge will work with the most respected names in financial services, including a number of UK and international banks.
Chris Kenning, CEO of Stubben Edge, said: “Brokers are in the best position to disrupt and adapt and it is our job to help them – so that more people can get the advice they need. With many insurance providers constrained by a one-size-fits-all approach to solutions and products, we instead offer clients bespoke solutions, expert knowledge, cutting-edge technology, and the ability to structure across multiple financial services markets UK-wide and internationally.
“We are in a fast-paced environment where clients are demanding more than ever from their brokers. This deal will help our broker partners to adapt and respond to the market more quickly and maintain their competitive advantage. The cash management platform will enable brokers to manage their cashflow better, develop new products and reach more clients more easily. It will help level the playing field between the smaller brokers and the top firms and will be a game-changer for those that are ambitious to grow. This is an exciting time for Stubben Edge as we continue to expand and grow into new markets.”
Panos Savvas, Chief Technology Officer of Akoni Hub, said: “We look forward to working with Stubben Edge, whose industry knowledge and products will be crucial in developing the Akoni proposition, not only to the wealth sector but a wider audience. This support will allow us to drive our vision forward and increase the impact we can have across the wealth and other sectors.
“With Stubben Edge’s acquisition, we have the opportunity to make a significant impact on the U.K. cash management sector. It will enable us to achieve our goal of being the go-to cash management provider in the UK providing the highest level of service and products to our partners.”