At Capsule, we're all about making insurance work harder for fast-growth enterprises. So when Element – a cutting-edge secure messaging platform – came to us, we knew right away we could help them get better coverage while saving serious money.
Element had been paying over six figures for their insurance, and with their renewal coming up, they decided to see if there was a better option.
The team had heard good things about Capsule from the Startup CFO community, and after a few conversations, it became clear that we could deliver what they needed: a broker who truly understood their industry and was willing to go the extra mile to secure the best deal.
Element needed comprehensive coverage – from Professional Indemnity (PI) and Directors’ & Officers’ (D&O) cover, to Management Liability Protection (MLP). Given the nature of their business – secure messaging and collaboration – we knew we had to find them robust protection.
We took a fresh approach by organising an insurer day. This allowed Element to speak directly with multiple underwriters and make sure the intricacies of the business were properly understood. It also created competitive tension among insurers, pushing premiums down in the process.
By working closely with Element and the insurers, we optimised their coverage, guaranteeing they had the right protection in place while cutting out unnecessary costs, without detriment to their coverage.
The impact was huge. We significantly reduced Element’s insurance spend by more than 60%. But it wasn’t just about saving money – we also improved their coverage, particularly in areas like D&O, giving them greater peace of mind.
Where Capsule really made an impact was in maximising efficiency. We didn’t just rely on paperwork; we supported the client by putting them in front of insurers, giving them the opportunity to present their business in their own words. This approach meant less back-and-forth, faster decision-making, and ultimately, a much more attractive deal.
Our initial conversations with Element started in early July, when we carried out a free review of their existing insurance. During this process, we provided tailored advice and recommendations on how to improve their coverage and reduce their premiums. By mid-July, we’d been formally appointed, and by September, they had their new policies locked in – just in time for their renewal on September 21st.
After seeing what we could offer in comparison to their previous broker, switching to Capsule was a no-brainer for Element. Their new insurance package included all vital covers required for the smooth running of operations – all at a significantly lower cost.
“Capsule really got to know our business and put us in front of insurers who understood our risks. Not only did we make huge savings, we ended up with coverage that really works for us.”
While it’s still early days, by reducing Element’s insurance spend so dramatically, we’ve helped them free up resources to reinvest into other areas of their business.
For fast-moving companies like Element, having the right insurance at the right price is about more than just protection. It’s about enabling smart, sustainable growth – and that’s exactly what we helped them achieve.
Is your insurance working as hard as your business? With Capsule’s support, you’ll get the tailored solutions and savings you need as you grow. Speak to a member of our team to see how we can help you save while powering your future