A major new alliance has been launched to forge partnerships between UK and US insurtech companies.

Representatives from the UK Government, Connecticut Insurance & Financial Services (CT IFS), the MetroHartford Alliance (MHA), the Connecticut Insurance Department, and Insurtech UK gathered at Nassau Financial Group in Hartford to sign the formal agreement which paves the way for the new InsurTech Corridor.

Her Majesty’s Trade Commissioner to North America Emma Wade-Smith said: “This is an historic moment building on a longstanding relationship and collaboration. The UK can now leverage our local insurance ecosystem, and Connecticut has increased exposure to the UK insurance market – creating a fast track for those seeking to internationalize.”

Connecticut Insurance Commissioner Andrew Mais added: “Today marks a significant milestone, accelerating innovation and InsurTech, and benefitting consumers. We want to make sure this industry prospers, and consumers have easy and affordable access to the products they need.

“There’s a reason we’re known as the Insurance Capital of the World. Connecticut’s government and organizations are committed to job growth, innovation, and furthering the industry.”

The UK-Connecticut Insurtech Corridor establishes useful resources, offers access to unique benefits, and provides connections to relevant professional services and stakeholders.

Connecticut Department of Economic and Community Development Commissioner David Lehman stated: “This unique partnership is an example of how Connecticut continues to innovate. Our economy provides a framework of collaboration, innovation, and encouragement.”

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