With over 25 years in the UK insurance industry and a background that blends law, regulation, and consumer protection, Melissa Collett brings a unique perspective to her role as CEO of Insurtech UK.
From her early career in insurance law to senior roles at the Financial Ombudsman Service and the Chartered Insurance Institute, Melissa has seen the market from every angle. Today, she’s leading the UK’s only trade association dedicated exclusively to insurtechs, helping more than 140 insurtech members, 40 insurers, and partners drive innovation across the sector.
From Law to Leading Insurtech UK
Melissa took on the CEO role in 2023, describing it as a “dream job” that combines her passion for insurance, technology, and consumer outcomes.
“It’s really advantageous in this role to understand how all the pieces fit together and to bring a regulatory perspective. Every organisation is regulated slightly differently, and it’s important to know where you stand.”
Her legal grounding gives her an edge in helping insurtechs thrive, particularly when navigating regulation and consumer protection.
Insurtech as “the Grit in the Oyster”
Since its formation in 2018, Insurtech UK has grown rapidly – expanding by 25% since Melissa’s appointment.
Melissa is determined to ensure the sector gets the recognition it deserves:
- The UK has the largest number of insurtechs per capita in the world.
It is home to more insurtechs than any other European country, and second only to the US globally. - The sector is already worth £20 billion to the UK economy.
- A McKinsey-backed report called insurtech “the grit in the oyster” of UK insurance—an apt description of how startups spark innovation within a traditionally conservative industry.
Driving Change Through Technology
Melissa points to several waves of UK-led insurance innovation:
- Price comparison websites – among the earliest forms of insurtech, revolutionising distribution.
- Telematics – enabling fairer, behaviour-based pricing, particularly for young drivers.
- Wearables – supporting personalised life and health insurance pricing.
Sensors and parametric insurance – allowing for faster payouts on events like floods, triggered automatically by data rather than lengthy claims processes.
“These are fundamental examples of how technology is driving change – creating new markets, improving access to insurance, and shifting the customer experience from reactive to proactive.”
From Disruption to Partnership
Early insurtechs were often cast as disruptors. Today, Melissa sees more collaboration and partnership with established insurers:
- Distribution power – large incumbents have customer bases and marketing budgets that startups need.
- Capacity – insurtechs require underwriting partners to scale.
- Regulatory status – many insurtechs are not licensed to sell insurance directly and instead operate as SaaS providers or value chain enablers.
This has created a dynamic ecosystem where startups act as enablers, helping incumbents process claims faster, price more accurately, and underwrite with greater efficiency.
What’s Next for Insurance Innovation?
Melissa has a clear wish list for how technology should continue to transform insurance:
- Digital-first experiences – eliminating repetitive data requests by using the rich information already available online.
- AI-powered efficiency – accelerating underwriting, claims, and customer service while reducing delays and inefficiencies.
- Proactive risk management – shifting insurance from “paying when something goes wrong” to helping customers prevent losses in the first place.
“There’s every reason to digitalise every interaction we have with insurance. AI and data should not just make the process faster but also give customers the tools to manage and reduce their risks.”
A Call to Action!
Melissa closes with an invitation to the market:
“If you’re an insurtech, an insurer working with insurtechs, or even an advisor who wants to learn more – join Insurtech UK. We’re here to advocate for the sector, connect innovators, and create the right environment for startups and scaleups to thrive.”
Insurers must evolve with new market realities – contact us at [email protected] to see how we can help you embrace AI, boost quote journeys and revenue, and lower costs.
