Insurtech and
R&D Tax Relief

In any sector, you can find an insurance policy. In the past, the insurance sector struggled to qualify for R&D tax relief. However, the development of modern technology and its application in the insurance sphere gave rise to insurtech, which now enjoys a lean digital operational model, and thus has become a strong candidate for the R&D tax credits scheme.

As insurtech businesses are enhancing the customer experience, they are continually creating R&D worthy innovation.

Insurtech brought innovative offerings that have helped the insurance industry reconnect with their customers. By leveraging emerging technology, such as artificial intelligence, machine learning, and advanced analytics, insurtech is able to drive exponential innovation in this sector.   

Although the industry is still in its infancy, the UK is already considered the world capital for insurtech and there is more funding available through the R&D tax relief scheme. With most insurtech products relying on proprietary technology, there is a high likelihood that your business may qualify for R&D tax credits, helping to fund your business.

What is R&D tax credit?

The UK Government’s Research and Development Tax Relief scheme is a way to encourage and reward companies that are investing in innovation.  

What qualifies as innovation? 

For tax purposes, R&D takes place when you are creating something that will advance the overall knowledge or capability in the field of science and technology. In simple terms, if you are solving industry problems, creating new software, process or materials, you qualify.



learn more.

what qualifies?

Most insurtech projects come with their own set of challenges, and the process of solving these challenges may be eligible for R&D tax credits. New software requirements, technologies and approaches can all count toward an R&D tax credits claim.

Innovative Software

  • Have you created a software that  increases the performance of other technology out there?
  • Have you built a software that integrates third party systems?
  • Have you developed new data analytics tools?
  • Have you created software that incorporates blockchain, in a new way?
  • Have you developed new encryption and protection software for your platform that wasn’t available before?

Innovative Product

  • Have you created an app that provides robo-advice through a digital customer interface?
  • Do you have a product that sells insurance in an innovative way that hasn’t been done before?
  • Are you creating a product that is fully automated that hasn’t been available before?

System Improvements

  • Have you developed a new machine-learning technique to process data or to personalise products?
  • Have you made innovative advances in A.I. that add to the insurtech sector as a whole?
  • Have you created technology that improves and personalises customer service?
  • Have you developed advanced analytics that will enhance the availability of insurance? 

Want to find out whether you can claim 33% of your R&D costs back?

There is a reason it's called innovation.

Think your project qualifies but we did not mention it above? Get in touch with us and let us see whether you qualify for an R&D tax credit.


sector Specialist Consultants

Each case is handled by our sector specialist R&D consultant that will help ensure that we identify as many activities as possible that qualify for R&D tax relief.


we get to know you

To get you the maximum benefit from your claim, we take the time to get to know your business so when it comes to writing the report, we create a claim that maximises your reward potential.


Supporting your every step

We will prepare and submit your claim to HMRC so you don't have to worry. Alternatively, we can work with your accountant to help, and manage the process.


R&D specialist accountants

Did you know that many companies only claim back a fraction of their costs, rather than the full sum? We have a team of trained accountants to identify all possible eligible expenditures to ensure that the above never happens to you.

Are you eligible for
R&D Tax Relief?

1. Are you a limited company based in the UK?

2. Have you been trading for at least a year?

3. Do you employ less than 500 people?

4. Is your turnover less than £85 million a year?

5. Are you improving existing products or creating something new that will advance science & technology?

Did you answer “yes” to all those questions? Great! You are most likely eligible.

Still have questions? Just hop on a call with us and we will help discuss with you whether you qualify.