KnowRisk

Founded: 2019

Location (head office): London, UK

Other offices : South Africa, US, Senegal

Locations served: Global

Employee count: 10

KnowRisk is helping insurers with power machine breakdown insurance by providing insights that reduce failures in power assets and improve insurer loss ratios. KnowRisk has commenced its journey to establish a MGA shaped by these insights.

The SAMPRisk / KnowRisk Energy team developed two new products during their time in the Lab: their SAMP Risk Platform as a value added service offering and a Deductible Buy-Down for power generation owners that will be offered by KnowRisk as a nascent MGA. Their SAMP Risk service is live and running for 3 policyholders, with a fourth and fifth policies imminent. The KnowRisk team is in the process of securing capacity for the Deductible Buy-Down product, with clients already lined up. The team had more than 150 productive meetings during their 10 weeks and learnt a great amount of valuable knowledge on how the market works. They said they progressed their growth by “at least a year", in the 10 weeks that they were in the Lab.