Emerging technology continues to create a wealth of opportunities for startups in the UK. One area where these opportunities are most apparent is risk management, a sector that has been fundamentally transformed by digital innovation. The Covid-19 pandemic has further accelerated this progress, as organisations have been forced to reassess their approach to risk in light of an unprecedented global crisis. This article will take a look at some of the UK’s most innovative risk management startups, showcasing the pioneering work they are doing in this increasingly important field.
The British risk management sector is rich, varied, and endlessly inventive. From companies utilising artificial intelligence and predictive analytics to improve their services, to those reimagining traditional industries like insurance and finance for the digital age, the startups in this list are revolutionising risk management in ways that will continue to impact us for years to come.
The 15 startups detailed below have been selected not only for their innovative approach to risk management, but also for the diverse range of industries they serve. Regardless of whether they specialise in financial services, technology, shipping or something else entirely, these companies demonstrate the breadth and depth of talent within UK’s risk management sector.
Apomatix
Apomatix offers an active audit management software that audits risks and conducts gap analysis. The startup, set up by Cam Keogh-Ly and Vartan Sarkissian, combines a range of services including Compliance, Cyber Security and Risk Management.
Cyber Covered
An insurance company that aims to make cyberspace safer, Cyber Covered provides cybersecurity, data insurance, claims management, and payment services. They blend cyber security and Risk Management with Insurance and Payments to provide an integrated and comprehensive service.
ShareAction AODP is a nonprofit organisation offering analysis and risk management services for retirement savings. They strive to ensure financial service providers manage risks effectively.
Edilora
With a software designed to make expeditions safer and easier to manage, Edilora is bringing risk management to the adventure industry. The software provides a tailored Risk Management solution for trip organisers.
Risk Ledger
Co-founded by Daniel Saul and Haydn Brooks, Risk Ledger claims to be the world’s most innovative vendor risk management platform, offering a secure social network model to manage cyber and network security risks.
Raise
Raise, established by Bea Stafford and Tim Bailey, is pioneering the future of invoice finance. Bridging the gap between Financial Services, FinTech and Risk Management, Raise offers a fresh take on funding platforms.
Refinitiv
Refinitiv, founded by David Craig, is a provider of financial markets data and infrastructure, focusing on Risk Management in the financial sector.
CourtQuant
CourtQuant utilises AI to provide quantitative litigation risk assessment solutions for litigation funders, merging the world of Risk Management with Artificial Intelligence and Information Technology.
HILO MARITIME RISK MANAGEMENT LIMITED
HiLo Maritime Risk Management, with their website here, focuses on the shipping industry, carrying 90% of goods transported globally, utilising risk management to ensure smooth transactions.
RISC Vision
RISC Vision provides cloud-based risk intelligence management solutions, bringing risk management and business intelligence together.
Abacus FX
Financial technology firm Abacus FX specialises in foreign exchange and risk management, offering innovative solutions for transaction processing.
The Insurer
The Insurer provides insurance news, analysis, and data service, focusing on Risk Management within Insurance and Financial Services.
Credenxia
Credenxia is a digital platform managing workforce in government, healthcare, transportation, construction and resources. Cofounded by Grant Thomas, Credenxia uses risk management to ensure a secure and proficient workforce.
Quod Orbis
Quod Orbis delivers peace of mind and cost reduction to clients by helping them reduce their digital risk and improve service. They provide Risk Management services within Information Technology and Professional Services.
Aleph Commodities
Aleph Commodities is a trading company that offers investment, logistics and risk management solutions across commodities supply chain.
The startups showcased in this article demonstrate the exciting opportunities within the risk management sector. As risk and uncertainty continue to shape our world, their innovative approaches will only become more important in steering us safely into the future.
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