Bermuda Showcased at InsureTech Connect
The Bermuda Business Development Agency (BDA) made its presence known at the InsureTech Connect (ITC) event in Las Vegas, Nevada. Bermuda's Premier, The Hon. David Burt, took the main stage to discuss the island's risk capital leadership and its thriving innovation and tech ecosystem. Premier Burt emphasized Bermuda's regulatory excellence, abundance of human capital, and spirit of innovation as key advantages of the jurisdiction. Korrin Lightbourne, Senior Business Development Coordinator, also represented the BDA at the event. This participation follows Bermuda's recent fifth annual Bermuda Tech Summit and a business development mission to London, UK, where discussions were held with global capital allocators, wealth managers, and tech companies to explore opportunities for Bermuda's technology, high net worth services, and climate risk solutions industries.
Connecting Businesses and Promoting Investment
The BDA plays a vital role in encouraging direct investment and supporting companies in starting up, relocating, or expanding their operations in Bermuda. As an independent public-private partnership, the BDA facilitates connections with industry professionals, regulatory officials, and key contacts in the Bermuda government to assist businesses in making informed decisions about establishing their presence in Bermuda. By prioritizing business retention, attraction, and investment promotion, the BDA aims to create a smooth and beneficial environment for conducting business in Bermuda.
In conclusion, Bermuda's participation at InsureTech Connect highlights its commitment to fostering innovation and attracting investment in the insurance technology sector. The island's favorable business environment, combined with its strong regulatory framework and innovative spirit, positions Bermuda as a leading destination for businesses in the insurance and technology industries.
Implications of Bermuda's Presence at InsureTech Connect for New Businesses
Bermuda's prominent participation at the InsureTech Connect (ITC) event could have significant implications for new businesses in the insurance technology sector. The island's Premier, The Hon. David Burt, highlighted Bermuda's risk capital leadership, thriving innovation and tech ecosystem, and regulatory excellence, positioning Bermuda as an attractive destination for businesses in this industry.
Opportunities for New Businesses
The Bermuda Business Development Agency's (BDA) active role in promoting investment and supporting businesses could present ample opportunities for new businesses. By facilitating connections with industry professionals and government officials, the BDA helps businesses make informed decisions about establishing their operations in Bermuda. This could significantly ease the entry process for new businesses, particularly those in the insurance technology sector.
Impact on Business Strategy
Bermuda's strong presence at the ITC event underscores its commitment to fostering innovation and attracting investment in the insurance technology sector. This could influence the strategic decisions of new businesses, encouraging them to consider Bermuda as a potential location for their operations.
In conclusion, Bermuda's participation at InsureTech Connect could have far-reaching implications for new businesses in the insurance technology sector. The island's favorable business environment and commitment to innovation make it a compelling destination for businesses looking to establish or expand their operations.