London-based insurtech Superscript announces its expansion to the Netherlands today, in the latest development towards its goal of becoming a global leader in SME insurance.
Supercript’s advisory service, SuperscriptQ, will be helping the next leaders in Europe with emerging technologies secure the right cover. The focus will initially be on medtech, fintech and digital asset businesses, before expanding its scope to other high-growth tech sectors.
Superscript has already been approved by Dutch regulator AFM and is authorised for operations across the EEA. The growing team of insurance experts based out of its Rotterdam office are servicing European tech clients such as: Chiliz; Safello; and Liva Healthcare.
The move into the Netherlands comes following strong growth in the UK, where Superscript has grown to five times the size it was two years ago, and doubled its employee headcount. Early this year, Superscript relaunched its advisory proposition as a digital-first service. It also follows the unveiling of Daylight, Superscript’s specialist product for digital asset businesses – and the first such product released by a Lloyd’s of London broker.
SMEs make up 99% of all businesses in Europe, with an estimated 22.6 million in operation, bringing in €3.5trn – over half of Europe’s GDP*. Despite this, European SMEs are significantly underserved by insurers. This represents a significant opportunity for insurers that can serve their needs properly.
Cameron Shearer, Co-Founder and CEO of Superscript, said:
“Small and high growth businesses have traditionally been underserved by the European insurance industry. Particularly in the emerging tech space, finding access to the right advice and covers is exceptionally difficult and often carries high premiums. Superscript’s digital-first approach, underpinned by proprietary tech, is transforming this process for these businesses.
“In the UK, we’ve made great strides disrupting business insurance. The Netherlands is the natural next step for us because it has the ideal combination of a strong regulatory body, a large insurance industry and a thriving startup ecosystem. By combining our EU and UK footprint, we will now be able to leverage even more capacity to help ensure customers get the best outcomes. I am excited for what the future holds.”