British business insurance challenger Digital Risks has rebranded to Superscript as it continues its ambitions to become a global leader in insurance for SMEs.
Cameron Shearer, CEO, and Ben Rose, Chief Underwriting Officer, together founded Digital Risks in 2015 with the aim of empowering entrepreneurs and modern businesses to thrive by providing better, fairer and more personalised insurance.
The insurtech initially launched with services geared towards tech-based businesses; a growing sector that was heavily underserved by insurance providers which, laboured by dated approaches or technology, didn’t reflect these digital-first, modern businesses.
Since then, the company’s scope and capability have grown beyond digital risks. With rapid scaling amongst thousands of trades, the company has quickly become trusted by SMEs across all sectors of the economy to protect their business.
The name Superscript embodies the insurtech’s ambition to raise the bar on how insurance is delivered for SMEs, by prioritising and elevating SMEs’ needs to give them the freedom to do what they do best.
Superscript is an insurance provider for the new normal of business, delivering flexible insurance to match SMEs’ changing needs, whether to unlock new revenue-driving activities, evolve their business models at short notice or use their supply chain in new ways. Where incumbent insurance providers are unable to adapt their policies fast enough, through its proprietary technology Superscript has built a reputation for reacting quickly with personalised, affordable and flexible subscription-based cover that helps SMEs adapt to changing environments, grow and scale.
Cameron Shearer, Co-Founder and CEO at Superscript, comments: “Through our unique mix of technology and underwriting innovation, Superscript aims to meet all insurance requirements for any SME, without forcing them into lengthy and expensive contracts. As we have developed and grown as a business, our proposition has evolved beyond how our original brand described us. To reflect and fuel this continued growth, we need a new brand that encapsulates our strong position in our market and our ambitions for the future.“
Ben Rose, Chief Underwriting Officer at Superscript, comments: “Current SME insurance policies are rigid and inflexible. They’re also very broad-brush, offering cover that doesn’t understand the needs of startups, that’s unable to adapt as business activities pivot, or that doesn’t keep up with businesses on a fast growth trajectory. These requirements were always important, but they’re now even more so as SMEs face some of the most challenging business conditions out there.
“The SME community won’t look the same in a post-pandemic world. Incumbent insurance providers don’t move quickly enough to help these businesses to adapt – that’s why Superscript exists. Our approach looks at every insurance cover from a new perspective. Rather than just selling policies that insurers want to sell, we ask what businesses need and then find the right solution.”
In February 2020, Superscript received $10.4m in Series A funding led by BHL Holdings – following a period of scale and, delivering up to 25% month-on-month customer growth – and is set to have doubled its headcount by the end of the year. Superscript has a number of partnerships with well-known SME-focused brands including Starling Bank, Revolut, Urban and Appear Here.
