Insurtech Equipsme, which is led by a former AXA executive, has twice the reason to celebrate. The healthcare MGA has a new investor and chair, all rolled into one.
Russell Kilpatrick, who set up Dual Corporate Risks in 2003, has been managing and developing MGAs since 1990. Now he has been appointed as chair at the British start-up, subject to regulatory approval, and has apparently provided funding.
“It’s great that Russell has chosen not only to be an angel investor in our business, but has accepted the position of chairman,” said Matthew Reed, Equipsme managing director and former commercial intermediary MD at AXA. “He’s going to be a tremendous asset as we explore further funding options that will allow us to take advantage of strategic opportunities.
“And of course, he knows how to build a successful MGA. His achievements at Dual alone speak volumes for his business acumen and industry expertise. His experience will be invaluable in guiding us and challenging us as we grow Equipsme over the coming months and years.”
Equipsme started offering “easy to understand” and affordable health insurance plans for small- and medium-sized enterprises (SMEs) just this month, with policies available exclusively via the top independent brokers across the UK.
“I am delighted to become part of the Equipsme team,” commented Kilpatrick. “They have taken great care to build a proposition that will open up the benefits of healthcare to businesses of all sizes who have previously struggled to find cover that really works for them.
“I genuinely believe that this business can bring about significant change and is going to have a major, positive impact on the health of the nation’s working population.”
