Fractional CFO for InsurTech companies
InsurTech accounting depends on whether the company carries underwriting risk. MGA and broker models recognise commission and override revenue with standard mechanics; full-stack carriers run statutory accounting, unearned premium reserves, loss reserves and reinsurance ceding alongside their GAAP books. Loss ratio, combined ratio and reserve adequacy have to be defensible quarter to quarter under both views.
MGA work centres on commission recognition, carrier accounting and the working capital cycle around premium collection and remittance. Carrier work is heavier: premium recognition over policy lifetimes, IBNR reserving, treaty accounting, acquisition cost amortisation under ASC 944 and the bridge between statutory filings and the GAAP books. Both have to satisfy actuarial sign-off, which is a different bar from software-style finance.
Flow provides financial modelling, FP&A and fractional CFO advisory to InsurTech companies across MGAs and digital brokers, full-stack carriers, embedded insurance platforms, claims technology and underwriting analytics.
KPIs to track for "InsurTech" startups
We're very 'KPI-driven' fractional CFOs, and we make sure to monitor the right metrics for your startup.
Gross written premium
Net earned premium
Loss ratio
Expense ratio
Combined ratio
Policies in force
Renewal rate
Commission revenue
Claims frequency
Reserves adequacy
Financial modelling for "InsurTech" startups
As fractional CFOs, we build KPI-driven financial models that are insightful and easy to maintain.
Financial modelling is both art and science - models must be robust, but also understandable, and useful for both internal planning and VC fundraising purposes. Hire a fractional CFO who knows how to handle both sides of the equation.
Loss ratio and reserves
Earned premium against paid claims, case reserves and IBNR by line and accident year, with reserve adequacy stress-tested against actuarial ranges. The single number carriers and reinsurers price the book on.
Combined ratio walk
Loss ratio, LAE, acquisition cost and operating expense ratio built up from the underlying ledgers, with the gap to the underwriting result of comparable carriers explained line by line. The metric that decides whether the book is structurally profitable.
Premium recognition and UPR
Written premium earned ratably over policy lifetimes, with unearned premium reserve rolled forward and reinsurance ceding applied at the right layer. Bridges the gap between top-line bookings narrative and accounted earned premium.
MGA commission and override model
Base commission, profit commission, contingent overrides and ceding commission modelled against forecast loss performance, with clawback provisions where loss ratios miss carrier thresholds. The MGA P&L lives or dies on the next renewal cycle's overrides.
Reinsurance treaty economics
Quota share, excess of loss and stop loss treaties run against gross written premium and modelled losses to derive net retention. Tells the board how much capital the treaty actually saves and how reinsurance hardening reshapes economics.
Statutory to GAAP bridge
Statutory surplus, risk-based capital and admitted assets reconciled to GAAP equity, with DAC amortisation under ASC 944 and the treatment of acquisition costs explained. The two books answer to different regulators and both have to be defensible.
Founders and investors we've worked with
We've supported winning builders across InsurTech and beyond.
Lemonade
As a fractional CFO we performed a confidential valuation of Lemonade, the publicly listed full-stack insurer powered by AI and behavioral economics, supporting Elevator Fund's portfolio management.
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Marcura
We acted as fractional CFO to Dubai-based Marcura, owner of maritime payroll and B2B payments platform MarTrust, advising on the strategic e-Wallet vendor selection and supporting product/finance integration.
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Bonart
We've worked as fractional CFO with Bonart, a Zurich-based independent Swiss strategic advisory and execution platform for PE and investor fundraising, providing long-term confidential valuation guidance.
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TBô
We acted as fractional CFO to TBô, a Zurich-based tech-enabled DTC male underwear brand, building a bottom-up financial / operating model with cohort-level KPIs and positioning the company for its next venture round.
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Onlogist
We acted as fractional CFO to Onlogist, a Hamburg-based online marketplace for last-mile vehicle transfer, providing confidential valuation guidance and operating model support.
See moreRecent fractional CFO track record
See our fractional CFO and financial modelling experience across InsurTech and beyond.
Simple pricing
No hidden costs, no complicated long-term contracts. We understand how important flexibility is for InsurTech startups.
Per month
- Accounting / FP&A tech stack implementation
- Monthly financial statements and reporting pack
- Quarterly board pack with detailed financial analysis (with variance analysis vs. budget, relevant KPI observations etc.)
- Investor-friendly output
Per month
- Everything in Core, plus
- Operating model (via an online platform like Runway or Excel-based)
- Ongoing model maintenance, refining projections, burn/runway management
- Customer cohorts modelling, churn and retention analysis
- LTV / CAC, unit economics analysis
- Cap table management
Per month
- Everything in Grow, plus
- M&A / fundraising support; review of business plan
- Pitch deck preparation
- Investor approach strategy / list building
- Due diligence support and deal negotiation
- Valuation as required and free access to Multiples Pro
Packages shown are illustrative, final pricing is tailored to client requirements.
Explore our fractional CFO offering for similar verticals
We're a specialized fractional CFO to fintech companies.
Our fractional CFO experience spans across all fintech verticals.
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We know tech inside & out.
We provide fractional CFO services to companies operating across the entire tech.
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We help you scale by providing fractional CFO advice, through fundraising and a successful M&A exit.
VC fundraising for InsurTech companies
We help you prepare materials, reach out to investors in our extensive network, negotiate fair term sheets and structure the VC round.
Learn moreM&A for InsurTech companies
We advise winning tech companies on M&A exits, and over the years successfully executed numerous transactions with both financial and strategic buyers.
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