Diesta

Here’s a quick recap of a productive October. Alongside our Seed announcement, we formed a strategic partnership with INARI.IO and their modern underwriting workbench, were recognised in an HSBC Innovation Banking and Dealroom.co report, and showcased the latest Diesta features live at InsureTech Connect in Las Vegas. If your looking to streamline premium payments for your organisation, reach out for a first conversation.

How did the UK innovation economy perform in Q3? Our latest innovation update, produced in partnership with Dealroom.co will answer some of your burning questions on VC investment volumes and sectors to watch. What you need to know in Q3: - Healthtech is the UK’s fastest growing sector for VC funding in Q3, with UK femtech, Flo, raising the largest investment round of the quarter - UK startups raised $2.9 billion in fresh funding in Q3 2024, with the largest share raised across Series B and C rounds - UK-based VC investors are on track to raise record levels of dry powder – $12.2 billion by the end of 2024. Find the full report, with commentary from some of our partners across the innovation economy here: https://grp.hsbc/6044qzZzn Thank you to Amelia Armour (Amadeus Capital Partners), Julian Schoemig (Diesta), Barney Hussey-Yeo (Cleo), Lilly B. (Oxford Science Enterprises), Remus Brett (LocalGlobe & Latitude) for your contributions to the report. #Innovation #UKTech #Fintech #Healthtech

We're thrilled to announce that Diesta has raised $3.8M in Seed funding, led by FinTech Collective with support from Commerce Ventures, Restive Ventures, and SixThirty! 🎉 Our mission to transform B2B premium payments with a custom solution for insurance finance teams is resonating with the industry. This round of funding will help us scale even further with everyone from startups to large enterprises and bring more digital payment journeys onto the Diesta platform. Huge thanks to our amazing investors—big things ahead!

There are big news on the horizon... InsureTech Connect week in Las Vegas has arrived, and we have something special to announce! Join us on the Demo Stage at 3:40 PM on Wednesday, October 16th, to be the first to hear the news live in person. Can’t make it? Stay tuned here for updates coming later this week.

✨ Looking Back at the MGAA 2024 Capacity Exchange! ✨ Thank you to everyone who joined us! With over 270 delegates, it was a fantastic day filled with valuable discussions and meaningful conversations among Market Practitioners and MGA members. We had the pleasure of gaining insights from representatives of Diesta, AM Best, Geo Underwriting, SCOR, Collinson, Carbon Underwriting, Great American International Insurance (UK) Limited and Ecclesiastical Insurance UK. Their perspectives highlighted the importance of collaboration in our industry. A special thanks to our event sponsors, AM Best and Diesta, along with our annual sponsors, for their unwavering support in making this event a success. 🎉 Your engagement is what makes these gatherings impactful. We can’t wait to welcome you to more MGAA events in the future! 🤝 Watch the showreel for highlights from the day! #MGAA #CapacityExchange #Networking #MGA #MarketPractitioners

I get asked about the name Diesta almost every week! Questions like, where does it come from, or what does it mean? The story actually ties back to our roots. We were the first company to come out of our accelerator program, so what better name than one that reflects that initial success and our diverse backgrounds? By putting a modern twist on ‘Die eerste’ in Afrikaans and ‘Die ersten’ in German, we arrived at our name. Today, Diesta stands for bringing, for the first time, a dedicated payment operations layer to finance teams in insurance. Since it's Friday afternoon, feel free to simply get the key info from the short video snippet below! #insurancepayments #thefirst

The insurance industry faces a fundamental operational reconciliation challenge. With payments flowing through a complex multi-party journey, insurers, MGAs and brokers have to pull information from multiple sources and duplicate efforts. This fragmentation isn’t just inefficient—it’s costly. Curious to see what this equates to? Check out the video below for the full story. And feel free to reach out at hello@diesta.co.uk if you’d like to dive deeper or share any insights!

Ever wondered why the insurance industry calls the payment for coverage a “premium”? The term has a fascinating history and a unique meaning in the world of insurance. Curious to learn more? Check out the video below for the full story. And feel free to reach out at hello@diesta.co.uk if you’d like to dive deeper or share any insights! #Payments #Insurance

We are still electrified ⚡ What an incredible week of conversations with MGA partners! We prepared a quick summary of the main points below. Conference Highlights: • Michael Keating set the right tone for the conference by highlighting that a clear value proposition and genuine connection trumps a 50 page PowerPoint any time of the day.  • Challenges of processing premium payments resonate across entities of all sizes and focus, whether it’s embedded insurance, broker distribution, or insurance schemes. • Many MGAs have a clear focus on expanding their proposition across multiple European countries and are looking for scalable solutions to support their growth in the continental market. Market Briefing Highlights: • We saw a diverse group of participants, from small start-up MGAs to global broking giants and insures joining our talk. • A clear takeaway from the session: most participants cited manual work over payment delays and hidden risks as the biggest challenge of premium payments.  • When it comes to the most effective feature in addressing the challenge, automation narrowly beat out centralising all data sources. Have you noticed similar trends in the MGA market? And would you have voted in the same way? Let us know your thoughts! Julian Schoemig Charissa Davis