Aviva Podcast: Being Enterprise Ready
The Insurtech sector is a hotbed of groundbreaking ideas, transforming how we perceive and interact with insurance. Yet, as Eloise Morgan, Managing Director of Ventures at Price Forbes, recently highlighted in a podcast with Aviva, a brilliant ideas alone won’t guarantee success. For startups hoping to partner with insurers, the real differentiator is enterprise readiness – the ability to demonstrate governance, compliance, and resilience from day one.
Let’s dive into the key themes from her discussion.
1. Enterprise readiness
For Insurtechs, being “enterprise ready” goes far beyond a compelling pitch. It means meticulously having “all their ducks in a row” such as securing robust governance, ensuring full compliance, and solidifying funding before even approaching insurers. Without these fundamental pillars, even the most promising initial interest from an insurer can quickly fizzle out. Without these foundations, even a positive response from an insurer can stall, because the startup simply isn’t operationally ready to move forward.
2. Heavy scrutiny within the insurance sector
The insurance industry is known for its measured timelines and rigorous scrutiny. Unlike faster-paced sectors, insurers often require 12-18 months for decision-making, due to complex layers of compliance, red tape, and extensive paperwork. Founders must factor in this lengthy runway, ensuring they have sufficient funding to sustain their operations and manage investor expectations during the waiting period. Planning for this journey is paramount.
3. Risk management
Proactive risk management is not just good practice; it’s essential. Startups need to secure their own protections, including professional indemnity (PI), cyber insurance, and directors’ and officers’ (D&O) cover. These are often contractual prerequisites, without them proactively in place, deals can see significant delays. More importantly, they protect the startup’s reputation and relationships if something goes wrong.

Tune in to the full podcast
Episode 3: Being Enterprise Ready
4. Avoiding bottlenecks
To prevent last-minute scrambling that can derail partnerships or fundraising, proactivity is key. Establishing insurance programs and governance frameworks early on ensures a smoother process. This foresight prevents unnecessary delays and keeps the momentum of potential collaborations intact.
5. Social capital vs. financial capital
In the intricate insurance ecosystem, networks, trusted advisors, and community support are invaluable. The Insurtech sector boasts a collaborative culture, encouraging founders to leverage the wisdom of peers, mentors, and industry organisations like Insurtech UK and BIBA. This “social capital” can be just as crucial as financial backing in managing the complexities of the industry.
6. Transparency builds trust
Building trust is paramount, and transparency is the foundation. Both insurers and Insurtechs must be candid about timelines, potential blockers, and requirements. Founders should be wary of the “slow no”- it’s far better to receive clear feedback early than to waste months of effort. Moreover, Insurtechs should feel empowered to ask insurers to clarify jargon and acronyms rather than making assumptions.
7. Mutual empathy
A greater degree of mutual empathy is needed between insurers and startups. Insurers can contribute by streamlining procurement and onboarding processes, enhancing transparency, and even seconding staff into Insurtechs to gain a deeper understanding of founder challenges. Such initiatives would help bridge the cultural gap between corporates and startups, creating stronger, more collaborative partnerships.
Conclusion
Ultimately, success in Insurtech isn’t solely about groundbreaking innovation; it’s about meticulous preparation. Enterprise readiness, robust risk management, and unwavering transparency form the bedrock of trust. Simultaneously, leveraging social capital and cultivating mutual empathy ensure that partnerships not only form but truly thrive. For founders, the challenge lies in harmonising a visionary spirit with disciplined execution, proving that they are not just disruptive, but also dependable.
You can listen to the full 26 minute podcast here: https://www.aviva.com/about-us/innovation/#podcast
Contact us
Don’t let your groundbreaking ideas go unnoticed! Connect with Eloise to discuss how you can achieve enterprise readiness and secure successful partnerships with insurers.

Eloise Morgan
Managing Director, Ventures
Price Forbes
Eloise.Morgan@priceforbes.com