(Connecticut State House, Hartford. Photo by author.)
Hartford InsurTech Hub, a collaborative initiative between Hartford-based insurers and the Startupbootcamp (London) InsurTech startup accelerator, has announced that international law firm, Clyde & Co. (London) will act as the entity’s exclusive legal partner, providing the startups in the Hartford program with high-level advice on how to tackle the legal issues they might experience.
Clyde & Co is a well-established law firm with specialist expertise in the insurance sector, covering a broad range of corporate and insurance regulatory areas, including entity licensing, and products. Hartford InsurTech Hub’s aim in collaborating with Clyde & Co is to provide comprehensive coverage of the issues that are most pressing for the startups engaged in the program. These challenges might include, but are not limited to: incorporating in different jurisdictions, as not all of the startups are US based; and direction on looking to do business in a highly regulated industry, such as insurance, according to a Hartford InsurTech Hub statement.
Hartford InsurTech Hub places the Clyde & Co news in the context of the recent partnership struck with claims management firm, Crawford & Company. Other important industry names working with Hartford InsurTech Hub, in addition to Crawford & Company include Cigna, The Hartford, Travelers, USAA, White Mountains, and CTNext.
“We are elated to welcome such a prestigious law firm as Clyde & Co on-board as our newest collaborator,” Sabine VanderLinden, CEO, Startupbootcamp InsurTech. “The wealth of specialist insurance knowledge that the Clyde & Co team brings will be invaluable and a great fit to deliver much needed legal expertise to the startups.”
Providing Legal Monitoring, Clinics and Resources
“We are delighted to be working with Hartford InsurTech Hub, and hope to provide guidance to the startups on their most pressing legal challenges and be part of the development of their businesses,” comments Vikram Sidhu, Partner, Clyde & Co. “By providing legal mentoring, clinics and resources on insurance regulation and corporate matters, we aim to help the startups navigate the world of insurance laws and regulations as they launch their dreams.”
“We’re thrilled to have the Clyde & Co team on board for the program, and I look forward to connecting them with our startups, so the startups can take full advantage of the legal insight they have to offer,” comments Erika Bothma, Program Director, Hartford InsurTech Hub.
Hartford InsurTech Hub notes that the range of technologies represented by the 10 startups selected for its inaugural Demo Day on April 18 includes artificial intelligence, Big Data analytics, natural language processing, cyber security, and smart home. The event will showcase the 10 companies, observe the transformation they have undergone and demonstrate the results they have achieved since the beginning of the program in January.