Build Your InsurTech MVP in 6 Weeks
Greta builds InsurTech MVPs faster and cheaper than any traditional agency. Policy management, claims processing, underwriting rules engines, risk scoring, and customer self-service portals — delivered in 6 weeks, FCA-aware from day one.
Whether you are launching a new MGA (a company that designs and distributes insurance products under someone else's licence), building embedded insurance APIs, or digitising a legacy broker workflow — you have the insurance product idea and we build the platform. No nine-month timelines. No £150,000 price tags.
6 weeks
Delivery timeline
Policy engine
Rules-based underwriting
Claims portal
End-to-end digital claims
From £15k
Fixed project price
What is InsurTech MVP development — in plain English?
InsurTech means using software to do insurance better. That sounds obvious — but the insurance industry is one of the last major sectors still running on fax machines, spreadsheets, and systems built in the 1990s. InsurTech is the wave of companies fixing that. Think of it like this: traditional insurance is a filing cabinet in a back office. InsurTech is the same filing cabinet, but it updates itself, talks to other systems automatically, and fits in your pocket.
An MVP (Minimum Viable Product) is the first working version of your product. Think of it like the first pancake you make when testing a new recipe. It is not perfect — but it tells you if the batter is right before you cook for forty people. An InsurTech MVP means: build the smallest version of your digital insurance platform that real people can actually use. Get a quote. Buy a policy. Submit a claim. Do those three things well before adding anything else.
InsurTech MVP development is the process of building that first working version quickly and cheaply. Working with a specialist MVP development agency like Greta means you do not spend twelve months and £200,000 learning what your customers actually want. You spend six weeks and £15,000, launch something real, and use the feedback to decide what to build next. The global InsurTech market exceeded $15 billion in investment in 2023 — driven by founders doing exactly this.
InsurTech is also a regulated industry. Every insurance product sold in the UK has rules around how it can be sold, what data you can store, and how claims must be handled. This is not a reason to avoid it — it is actually a reason to move faster than your competitors who are stuck waiting for traditional software agencies to understand those rules. Greta already knows them. We have built enough insurance platforms to know where the compliance traps are and how to avoid them from the start. You can also explore our InsurTech solutions overview for more context on the market opportunity.
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5 signs you need an InsurTech MVP right now
Not sure whether you are ready to build? These five situations are the clearest signals that an MVP is the right next move — not more planning, not more fundraising, not more waiting.
- 1
You have a broker or MGA relationship but no digital front end
You can already sell insurance, but your customers still email PDFs or call a phone line to get a quote. Every competitor is launching a self-serve portal. Building a digital quoting and policy portal in 6 weeks gives you the same capabilities — without hiring a team of developers.
- 2
You are applying for FCA authorisation
Regulators want to see a working product, not just a slide deck. Having a real platform — even an MVP — demonstrates technical capability and operational readiness. It also shows you have thought through the data flows, audit trails, and complaint handling workflows that the FCA looks for.
- 3
You have investment interest but need a working demo
Investors in InsurTech want to see a working product before writing a cheque. A polished MVP — with real policy creation, a working underwriting engine, and a claims submission flow — converts investor conversations into term sheets. A PowerPoint does not.
- 4
You are losing customers to a competitor with a better digital product
If policyholders or brokers are choosing a competitor purely because their portal is easier to use — that is a product problem, not a pricing problem. An MVP lets you ship a competitive digital experience quickly without rewriting your entire legacy stack.
- 5
You have insurance domain expertise but no tech team
You know the underwriting rules, the claims workflows, and the compliance requirements inside out. You do not have engineers. That is the exact scenario Greta is built for. You bring the insurance knowledge; we build the platform.
InsurTech features Greta builds in your MVP
Every InsurTech MVP we build is assembled from the core modules your specific insurance product requires. Here are the six technical areas we specialise in. Each one is grounded in real insurance workflows — not generic software patterns lifted from a SaaS template.
Policy creation and lifecycle management
Full policy lifecycle from quote to bind to renewal to cancellation. Configurable coverage options, endorsements, and exclusions. Policy document generation in PDF with insurer branding. Mid-term adjustments, NCD (No Claims Discount) tracking, and automated renewal invitations with premium recalculation.
Digital claims submission and processing
First Notice of Loss (FNOL — the form a policyholder fills in when something goes wrong) digital intake with guided question flows tailored to your line of business. Document and photo upload, third-party details capture, and automated acknowledgement. Claims handler dashboard with status tracking, reserve setting, and settlement workflows.
Underwriting rules engine
Rules-based underwriting logic that evaluates risk factors and returns accept, decline, or refer decisions in real time. Configurable by your underwriters through an admin panel — no developer required to update rating factors, eligibility criteria, or referral triggers. Think of it like a decision tree your team can edit themselves.
Risk scoring models
Structured risk input capture with weighted scoring that feeds your underwriting decisions. Integrations with third-party data enrichment — flood risk, credit reference, telematics, or Companies House — to supplement what applicants tell you and improve pricing accuracy from day one.
Customer self-service portal
Policyholder dashboard to view active policies, download documents, manage payment methods, update contact details, and initiate mid-term changes or cancellations. Reduces inbound contact centre volume. Similar to what we build in our custom dashboard development service.
Broker management and regulatory tools
Appointed representative portal for broker-distributed products — scheme quoting, client portfolio management, and commission tracking. Audit trail, complaints log, TCF (Treating Customers Fairly) reporting, and data retention controls built in for FCA regulatory requirements.
BUILD IT FAST
Ready to build your digital insurance platform?
Greta builds InsurTech MVPs in 6 weeks — policy engines, claims portals, and underwriting tools built for compliance from day one.
TALK TO A FOUNDER
Not sure where to start?
Book a 20-minute call. We'll map out your scope, tech stack, and go-to-market plan — for free.
Real examples: what Greta has built for InsurTech founders
These are three representative examples of InsurTech products we have built. Names and specific details are illustrative, but the technical scope, timelines, and outcomes are real.
Vero Cover
Digital MGA — SME commercial liability
The Challenge
An ex-Lloyd's underwriter with a panel of capacity providers wanted to distribute SME public liability insurance digitally. He had a detailed underwriting model but no technology background and no tech team.
What We Built
A full digital MGA portal with a rules-based underwriting engine covering 47 risk classes, PDF policy issuance, a broker portal for appointed representatives, and a claims FNOL flow with automatic handler assignment. Integrated with Stripe for premium collection and Onfido for business identity verification.
The Outcome
Launched to 3 broker partners in week 7. Processed 142 policies in the first month. Used the traction to raise a £1.2m seed round at a £6m valuation.
Rainflow Parametric
Parametric crop insurance — emerging markets
The Challenge
A climate finance startup wanted to build a parametric rainfall insurance product for smallholder farmers. The product needed to automatically pay claims when rainfall data from weather APIs dropped below a defined threshold — no claims form, no adjuster.
What We Built
A parametric insurance platform integrating with Open-Meteo weather API, a policyholder onboarding flow with GPS farm boundary capture, an automated payout engine that checked daily rainfall data and triggered mobile money payouts when thresholds were breached, and a reinsurance reporting dashboard. Built as a B2B SaaS platform with multi-tenant architecture.
The Outcome
Piloted with 800 farmers in Kenya in the first growing season. Zero manual claims processing. 100% automatic payout to eligible policyholders within 48 hours of threshold breach.
NestSafe
Embedded home insurance — proptech platform
The Challenge
A property management SaaS platform wanted to offer tenants contents insurance at the point of signing a new tenancy. They needed an embedded insurance API that sat inside their existing tenant onboarding flow — invisible to the user, instant quotes, no separate signup.
What We Built
An embedded insurance API that connected to the property management platform via webhook, generated real-time contents insurance quotes based on property postcode and coverage amount, and issued policies automatically on tenant acceptance. A white-labelled claims portal was also built.
The Outcome
Deployed to 12,000 active tenants on launch day. 18% opt-in rate on first day — significantly above industry benchmark. The property management platform generates recurring commission revenue from every policy without any additional staff.
How Greta builds your InsurTech MVP — step by step
This is the exact process we follow for every InsurTech build. No surprises. No scope creep. Each step has a clear deliverable and a clear sign-off moment.
- 01
InsurTech discovery and regulatory mapping (1 hour)
A focused session to understand your insurance product type — personal lines, commercial, embedded, or parametric — your distribution model, and target policyholders. We identify FCA or PRA authorisation requirements, GDPR obligations for sensitive health or financial data, and Solvency II considerations before any development begins. No regulatory surprises mid-build.
- 02
Underwriting model and product scope definition
We translate your insurance product logic into a precise technical scope. This defines your rating factors, policy states, claims workflow steps, and integration requirements. You receive a written scope document, a compliance checklist, and a fixed price — no estimates that double once work begins.
- 03
UX design and policyholder journey prototype (3–5 days)
Clickable prototypes (interactive mockups — like a preview of the app before it is real) of every policyholder-facing screen — quoting, coverage selection, payment, policy management, and claims submission. Your underwriting team and compliance officers review the broker and admin interfaces. All feedback is incorporated before production build starts.
- 04
InsurTech build with integrations (4–5 weeks)
Our AI-assisted platform builds your policy management system, underwriting rules engine, and claims portal in parallel. Third-party integrations — identity verification (Onfido, Jumio), open banking for direct debit setup, telematics data feeds, or reinsurance bordereaux exports — are connected and tested throughout this phase. Weekly builds on a private staging environment so you can see progress every week.
- 05
Quality assurance and compliance testing
End-to-end testing of every user journey — quoting, binding, mid-term changes, claims, and renewals. Compliance controls are tested against your regulatory checklist. Load testing ensures the platform handles peak demand without failures.
- 06
Launch, compliance handover, and iteration roadmap
Your InsurTech MVP goes live with full code ownership, technical documentation, and a compliance handover pack covering data flows, retention policies, and audit trail locations. We map the post-launch iteration roadmap based on real policyholder behaviour and conversion data from your first operational weeks.
Common mistakes InsurTech founders make — and how to avoid them
We have worked with enough insurance founders to know where the expensive mistakes happen. Here are the five most common ones — and the plain English explanation of why they happen.
Mistake: Building the full platform before validating the product
The most common and most expensive mistake. A founder spends £180,000 and 14 months building a complete insurance platform — full broker portal, reinsurance integrations, claims analytics dashboard — and then discovers that brokers do not want to use it because the quoting flow takes too long. The fix: build the smallest thing that can be sold to real people first. Get 10 paying customers before building for 10,000.
Mistake: Treating compliance as something to sort out after launch
Insurance is regulated. You cannot "add compliance later" the same way you might add a dark mode. If you build your data architecture without GDPR in mind, you will need to rip it out and rebuild it. If you do not build an audit trail from the start, you will need to add it retrospectively — which is far more expensive. Greta maps compliance requirements in week one, not month twelve.
Mistake: Hiring a generic software agency without insurance knowledge
A good React developer who has never seen a policy administration system will spend three weeks learning what a policy state machine is. An agency without insurance experience will ask you to explain underwriting logic, claims workflows, and bordereaux formats in every meeting — at £150 per hour. Greta has built insurance platforms. We already know the vocabulary.
Mistake: Underestimating integration complexity
Insurance involves connecting to a lot of external systems: payment providers, identity verification, credit reference agencies, property risk databases, Lloyd's market systems. Each integration takes time and has its own compliance requirements. Founders often budget for the software build and forget to budget for integrations. We scope every integration in the discovery call so the price does not change mid-build.
Mistake: Skipping the broker or policyholder prototype review
We show every founder a clickable prototype before writing a line of production code. Some founders skip the review to save time. Then the product launches and the underwriting team finds the admin interface unusable, or policyholders drop off during claims submission because a question is confusing. Getting ten minutes of feedback on a prototype saves weeks of rework. Always do the prototype review.
InsurTech MVP cost and timeline comparison — 2026
Building insurance technology is expensive the traditional way. Legacy IT vendors and traditional agencies charge a premium for insurance domain knowledge. Greta combines that domain knowledge with an AI-assisted build platform to deliver the same quality in a fraction of the time and cost. Here is an honest 2026 comparison. You can also compare us to a LegalTech MVP build to understand how regulated-industry pricing works across sectors.
| Option | Cost | Timeline | Insurance expertise |
|---|---|---|---|
| Traditional agency | £80,000–£200,000 | 9–18 months | Variable — often limited |
| Freelancer team | £20,000–£60,000 | 3–9 months | You manage it yourself |
| No-code tools | £0–£500/month | Weeks | Very limited — compliance gaps |
| Greta | From £15,000 | 6 weeks | Deep — built into process |
BUILD IT FAST
Seen enough? Let's scope your InsurTech MVP.
Tell us your insurance product idea — we will map the underwriting logic, compliance requirements, and build timeline in one free 30-minute call.
TALK TO A FOUNDER
Not sure where to start?
Book a 20-minute call. We'll map out your scope, tech stack, and go-to-market plan — for free.
InsurTech MVP development — common questions
What is an InsurTech MVP?+
An InsurTech MVP (Minimum Viable Product) is the first working version of a digital insurance product. It covers the core policyholder journey — getting a quote, buying a policy, managing their coverage, and submitting a claim — without every feature a full platform would have. Think of it like opening a corner shop before building a supermarket. You serve real customers, learn what they actually want, and prove the business works — before spending £200,000 on the full version. The goal is evidence, not perfection.
How long does it take to build an InsurTech MVP?+
With Greta, most InsurTech MVPs are delivered in 6 weeks. Simple digital insurance portals with quoting and policy purchase can be done in 4–5 weeks. More complex products with full underwriting rules engines, telematics integrations, or multi-party broker networks take 7–9 weeks. Traditional agencies typically quote 9–18 months for the same scope. The difference is our AI-assisted build platform, which handles the repetitive engineering work so our team focuses on the insurance-specific logic.
Do you handle FCA compliance for insurance products?+
Greta builds with FCA-aware architecture. We identify whether your product requires direct FCA authorisation or can operate as an appointed representative of an authorised firm. We implement the technical controls — audit trails, data retention, complaint handling workflows, and TCF (Treating Customers Fairly) documentation — that your compliance consultants specify. We do not provide legal or regulatory advice, but we build exactly what your lawyers and compliance officers require.
What types of insurance products does Greta build?+
Greta builds digital insurance platforms across all lines of business: personal lines (home, motor, travel, pet), commercial lines (SME liability, professional indemnity), embedded insurance (point-of-sale API products that sit inside another company's checkout), parametric insurance (trigger-based automatic payouts), and health and protection products. We build for MGAs, digital insurers, embedded insurance startups, and broker technology platforms.
How much does an InsurTech MVP cost with Greta?+
Traditional agencies charge £80,000–£200,000 for an InsurTech MVP. Greta delivers the same quality starting from £15,000 because we use our own AI platform instead of large developer teams. The exact price depends on your underwriting complexity, number of third-party integrations, and regulatory requirements. A straightforward digital MGA portal is at the lower end. A full parametric insurance platform with IoT data feeds and automated claims processing is at the higher end. Book a free call and we will give you a real fixed price within 48 hours.
What integrations can Greta connect to my InsurTech MVP?+
We connect InsurTech MVPs to a wide range of third-party services: identity verification providers (Onfido, Jumio, Stripe Identity), open banking APIs for premium collection via direct debit (GoCardless, Yapily), telematics data feeds for usage-based insurance, credit reference bureaus (Experian, Equifax), flood and property risk data, payment gateways (Stripe, Adyen), and reinsurance bordereaux export formats. We also build internal reporting dashboards for underwriters and claims managers.
Can I own the code after the build?+
Yes. You get full code ownership at the end of the project. This means you own the source code outright, you can take it to any developer or agency in the future, and you are never locked into Greta for ongoing work. We hand over a private GitHub repository with complete documentation, deployment instructions, and environment variable management. No licensing fees, no usage-based pricing, no vendor lock-in.
What makes InsurTech different from other software projects?+
Insurance software has a few characteristics that make it genuinely harder than most software: complex state machines (a policy moves through quote, bound, active, lapsed, renewed, cancelled — each state has rules), regulated data handling (policyholders' health and financial data require GDPR-compliant storage and FCA-specified retention periods), actuarial logic (pricing needs to be auditable and defensible to regulators), and legacy integration (you often need to connect to Lloyd's, Xchanging, or a cedant's bordereaux system). Greta has built enough insurance platforms to know where these traps are — and to scope them accurately from the start.
How is an InsurTech MVP different from a FinTech MVP?+
There is significant overlap — both deal with regulated financial products, both require audit trails and GDPR compliance. The key difference is the domain logic. A fintech MVP might involve payment flows, lending calculations, or account management. An InsurTech MVP adds insurance-specific complexity: policy state machines, underwriting rules engines, claims adjudication workflows, and reinsurance reporting. The regulatory frameworks also differ — FCA ICOBS rules for insurance versus FCA CONC rules for consumer credit, for example. We build both, but always scope them separately because the domain logic is genuinely different.
BUILD IT FAST
Questions about your specific insurance product?
Speak to our team — we will tell you exactly what is possible, what it will cost, and how long it will take. No obligation.
TALK TO A FOUNDER
Not sure where to start?
Book a 20-minute call. We'll map out your scope, tech stack, and go-to-market plan — for free.
Sources & further reading
External references cited on this page.
FCA Insurance Conduct of Business Sourcebook (ICOBS)
The FCA's official conduct rules for insurance distribution — covers product governance, customer disclosure, and claims handling requirements.
EIOPA — European Insurance and Occupational Pensions Authority
EU insurance regulatory body overseeing Solvency II implementation, InsurTech guidelines, and digital insurance product standards.
McKinsey — The InsurTech Value Chain
McKinsey research on how InsurTech startups are reshaping distribution, underwriting, and claims processing across the global insurance industry.
Association of British Insurers — Digital Innovation Report
ABI research on digital transformation trends in UK insurance, including technology investment, customer expectations, and regulatory developments.
Related services
Other products and sectors Greta builds MVPs for.
Fintech MVP Development
Build payment apps, lending platforms, and neobanks in 6 weeks.
LegalTech MVP Development
Document automation, contract management, and legal workflow tools.
B2B SaaS MVP Development
Build broker portals, MGA platforms, and insurance distribution tools.
Dashboard Development
Custom analytics dashboards for underwriters and claims managers.
MVP Development Agency
Our main MVP development service for all digital product types.
InsurTech Solutions
Overview of the InsurTech market and where Greta fits in the ecosystem.
Launch your digital insurance product in 6 weeks with Greta.
You have the insurance product idea. We have the platform, the process, and the InsurTech domain expertise. Policy engine, claims portal, underwriting rules — FCA-aware and production-ready in weeks, not months.
Our MVP development agency has helped InsurTech founders from early-stage startups to established MGAs wanting to go digital. Whether you need a full policy management platform or a focused embedded insurance API, speak to our team today and we will give you a real price within 48 hours.
Free 30-minute discovery call. Real pricing within 48 hours. No obligation.