Company Announcements

Latest News

Q4/2022 – John Innes, Co-Founder & CEO
 

Futureproof selected for Asia’s global fintech event

Futureproof CEO, John Innes, tody announced that Futureproof has been selected by Invest HK and Fintech HK to participate in the 2022 Hong Kong Fintech Week
to be held 31 October – 4 November at the Hong Kong Conference and Exhibition Centre.
 
John Innes said: “Hong Kong Fintech Week is Asia’s premier fintech event hosting 20,000+ attendees from 85+ economies and renowned international and regional media. This event showcases the best fintech scale-ups and growth companies and Futureproof is excited to be selected to participate.  As we step out of ‘stealth’ mode, this is an important opportunity to showcase the Equity Preservation Mortgage™ to Asia’s leading banks, insurance carriers, fintech partners, financial regulators and VCs.”
 
Last year’s Hong Kong Fintech Week was a virtual event that drew more than 1.2 million on-line viewers, 500 exhibitors; hosted over 350 speakers, 230 journalists and 29 delegations from over 130 countries,  including The Wall Street Journal, South China Morning Post, CNBC, Thomson Reuters, Financial Times, Forbes, Yicai and Bloomberg  and generated more than 100 hours of content.
 
This year’s Hong Kong Fintech Week returns as a hybrid format with in-person and virtual participation.
 
This government-sponsored event features conferences with prominent speakers, the Global Fast Track programme, exhibitions, a deal floor, networking events, demo shows and start-up pitchfest. with the winner announced at the 2022 Hong Kong Fintech Week.

Latest News

Q3/2022 – James Huey, Executive Chairman
 

Futureproof chosen as an ‘Alpha Startup’

Futureproof is pleased to announce that it has been selected by FWD Insurance and 1337 Ventures as an
‘Alpha Startup’
to join this year’s Cohort 4 of leading insurtech’s in the
FWD Insurance Startup Studio.
 
FWD Insurance Group is a Hong Kong-based insurance carrier offering life insurance, general insurance, health insurance medical insurance and employee benefits.  DFW Insurance serves over 10 million customers in Hong Kong, Thailand, Malaysia, Singapore, Japan, The Philillipines, Macau, Cambodia, Vietnam and Indonesia. The company was founded in 2013 as the insurance arm of Pacific Century Group by its Chairman,
 
FWD Insurance is a rapidly growing insurance company focused on insurtech, product innovation, acquisition and growth.
 
Executive Chairman of Futureproof, James Huey said: “We are very pleased to be associated with FWD Insurance,  identified by Futureproof as  a leading Asian insurance carrier  that has always been very focused on insurtech and product innovation, making it an ideal partner of Futureproof in Asia. 
 
Participation in the FWD Insurance Startup Studio is an important initial step in developing our relationship and gaining  a better understanding of the FWD Insurance business ahead of a co-creation program to adapt the Equity Preservation Mortgage™ to key  Asian markets.”
 
The FWD Insurance Startup Studio is managed by

Latest News

Q3/2022 – James Huey, Executive Chairman
 

Futureproof selected for Global Fast Track Program 2022

 

 
 
 
Futureproof’s Executive Chairman, James Huey, today announced that Futureproof has been selected for the Global Fast Track Program 2022 managed by
Finnovasia.
 
Participating regulatory partners  include:
 
Hong Kong Monetary Authority
Insurance Authority
Securities and Futures Commission
  
Mr Huey said: “The Global Fast Track is a valuable program that matches the world’s most innovative fintechs and insurtechs with both Investors and Partners.  It also provides a unique opportunity to connect and consult directly with Regulators.”
 
The Hong Kong Monetary Authority owns the HOng Kong Mortgage Corporation which offers a reverse mortgage scheme for Hong Kong Seniors.
 
The program culminates in the annual Global Fast Track Awards to be announced at Asia’s largest global fintech event.
 
 
 
 

Latest News

Q3/2022 – James Huey, Executive Chairman
 

Dr  Peter Langkamp joins Futureproof

Dr Peter Langkamp, OAM, FAICD joins the Executive Team of Futureproof to lead the development and market launch of the institutional version of the Equity Preservation Mortgage™ in Australia, USA and UK.
 
The institutional Equity Preservation Mortgage™ is transformative for not-for-profits, religious institutions, charities, community-based organisations and property developers having portfolios of residential properties.  It monetises the capital tied up in residential properties used for social housing, defence housing, build-to-rent, independent living  and disability housing, to create tax-free income to fund on-going repairs & maintenance programs and new builds.
 
James Huey, Executive Chairman of Futureproof said: “We weclome Peter at this exciting time ahead of 2023 market launch in USA then UK and Australiasia.  Peter brings to Futureproof, strong ties with the not-for-profit sector, Australian banking & credit unions and a long association with Accenture, including three years as a strategic advisor.”
    
His experience includes Bendigo & Adelaide Bank,  Federal Government advisor on the NDIS, CEO of Novare Asia-Pacific (an Accenture joint venture) and he has led successful businesses including the establishment of the popular national Fly-Buys loyalty program between Coles, National Australia Bank and Shell.
 
Dr Langkamp is a Director of The Disability Trust, genU and Ermha365 Limited and has served as President of Carers Australia. 

Latest News

Q3/2022 – John Innes, Co-Founder & CEO
 

Pre-Series A USD$15M Funding Round

The Futureproof Board today approved  terms of a

Pre-Series A funding round of USD$15M

to be announced at the 2022 OnRamp Insurance Conference in Minneapolis, USA.

This capital investment is being offered to insurtech and fintech CVCs and VCs in USA, UK and Australasia, using SAFE Notes.

Investment capital is being raised to underwrite the final product development phase of the Equity Preservation Mortgage™ and provide an extended capital runway through to market launch.
 
CEO and Co-Founder, John Innes said: “We look for more than a cheque. Our focus is on identifying the right investment partners who not only understand the insurtech and fintech space in which we operate, but have the capacity to provide follow-on investment into our Series A USD$40M new share issue scheduled for early 2024 following market launch. 
 
Importantly, we look to those CVCs of financial institutions and VCs that have major banks, insurance carriers and investment banks as their LPs providing depth of investment capital.  For Futureproof, this provides not only funding support, but strong commitment from their supporting financial insitutions as Product Issuers of the Equity Preservation Mortgage™ in our key markets.”
 
Futureproof has instructed Squire Patton Boggs to advise and act in relation to this corporate funding transaction. 
 

Recent News

Q2/2022 – Margaret Rochford, Head of Marketing & Corporate Communications
 

 Futureproof Thought Leadership Series 1

The first of a new Futureproof Thought Leadership Series featuring short videos in which leaders in financial services and fintech innovation, each describe their personal Futureproof journey. 

Recent News

Q1/022 – John Innes, Co-Founder & CEO

Thank you to our talented team of legal interns

Futureproof’s Sydney-based R&D team includes a talented group of legal interns comprising the ‘best and-brightest’ graduates and senior under-grads specialising in tech law, corporate law, regulatory & compliance and intellectual property law drawn from Australia’s top law schools at University of Sydney, University of Technology, Sydney and University of New South Wales.

A late afternoon and dinner cruise on Sydney Harbour to thank them.

Recent News

Q4/2021 – Wesley Chow, Chief Financial Officer

 Futureproof opens new office in Channel Islands

Welsey Chow, Chief Financial Officer, today announced the opening of a new Channel Islands office in Guernsey from October 2021.

Located at the Polygon Collective Tech Hub at St Peter Port, this Futureproof office will house our Channel Islands team headed by local directors, supported by visiting resources from London.
 

This is an important operational move for Futureproof supporting its longer-term plans to re-domicile the Group from Hong Kong to the Channel Islands, which offer a robust and stable regulatory environment supportive of the activities of global businesses.

Recent News

Q4/2021 – James Huey, Executive Chairman

 Futureproof receives regulatory approval to operate incorporated cell structures in Guernsey

Futureproof Executive Chairman, James Huey, announced that on 1 November 2021, Futureproof ICC Limited received regulatory approval to operate. This is an important step in the strategic re-structure of Group operations from Hong Kong. 
 
Futureproof ICC Limited is now set to become the new principal operating company of the Group.
 
This is the first fintech/insurtech company (and only the third technology company) to receive approval to use an Incorporated Cell Structure, which are normally restricted to regulated financial activities (such as insurance, reinsurance and funds management), following recent amendments to The Companies (Guernsey) Law, 2008.
 
These are important legislative changes reflecting the new focus of States of Guernsey Government to attract technology companies.
 
Collas Crill (Lawyers) advise Futureproof in relation to local compliance and corporate matters.

Recent News

Q3/2021 – Ernst & Young

 2021 Australian Insurtech EcoSystem Map

Ernst & Young today released their 2021 Australian Insurtech EcoSystem Map.
 
The latest map features, for the first time, Futureproof.
EY reports that this 4th Edition of the EcoSystem Map shows a 52% increase in the number of Australian Insurtech’s since 2020.
Futureproof joins a select group of just 18 Insurtechs focused product innovation to deliver better Customer value.

 

Recent News

Q3/2021 – Your Life Choices

 Older Australians Insights Survey 2021

 

Leading digital media and retirement portal for older Australians, Your Life Choices today released their annual Older Australians Insights Survey.

This important survey provides a snapshot of the serious retirement funding shortfall  facing most Seniors.

72% own their home outright. However, the Survey highlights the dilemma Retirees face having so few financial product options. Your Life Choices reports that 58% are not considering downsizing their home (plus another 23% are unsure) yet, at the same time, 57% respond that their savings will not provide an income for life.

Recent News

Q3/2021 – John De Ravin, Senior Actuary

Optimal Draw Down Rate in Retirement

Advisory Board Member and Head of Technical & Product at Futureproof team, John De Ravin, together with colleagues Estelle Liu, Rein van Rooyen, Paul Scully and Shang Wu, look into what is the optimal account-based pension draw down rate in retirement.This important work develops new drawdown rules that yield improved total lifetime utility of consumption for Retirees.

Their new useful rule of thumb for single Retirees is to “Spend Your Decennial Age“.
This simply means, in your 60s draw down 6% of the beginning-of-year your account-based pension balance.  In your 70s draw down 7% and in your 80s draw down 8%.
In Australia, once you hit 85  the statutory minimum drawdown rates apply.

Past News

Q1/2021 – Insurtech Australia

 Voice of Australian Insurtech features Futureproof

Insurtech Australia today featured Futureproof in its May 2021 Newsletter. 

Insurtech Australia is the leading industry body fostering a diverse community of insurance innovation and collaboration by bringing together insurtechs, insurance practitioners, entrepreneurs, technologists, innovators, and industry stakeholders across Australia.

Our new type of equity release mortgage – the Equity Preservation Mortgage™ is due for Australian release in 2022.

 

 

 

 

 

 

 

 

 

Past News

Q2/2021 – Innovate | Finance UK

Voice of Global Fintech features Futureproof

Innovate | Finance is the independent industry body that represents and advances the global FinTech community in the UK.

Innovate | Finance UK today featured Futureproof in their Shining a Spotlight On Series –  a platform recognized as showcasing the brightest and best in UK FinTech.

Innovate | Finance plays UK’s leading role in the financial services sector by directly supporting the next generation of technology-led innovators.

The support of industry bodies such as Innovate | Finance that bring fintechs, financial institutions, regulators and governments together is an important part of Futureproof’s market launch in UK and Australia – the most highly regulated financial markets in the world.

The UK launch of our Equity Preservation Mortgage™ – a new form of equity release – is planned for late 2022 with Futureproof now inviting participation from an initial group of leading UK  financial institutions as Product Issuers.

 

Past News

Q3/2021 – Fintech Australia

Voice of Australian Fintech features Futureproof

Futureproof and its breakthrough equity release mortgage – the Equity Preservation Mortgage™ – was today featured by Fintech Australia in its weekly Five Fintechs, a series profiling the best of the Australian fintech community.

As the leading representative body for Australia’s fintech industry, Fintech Australia brings together all parts and players in the financial technology ecosystem.  Most important is its work with government and industry to develop new approaches to help accelerate innovation while ensuring a secure and stable financial system.

These objectives and values directly align with Futureproof’s design & development criteria – that no financial or product innovation should introduce any incremental or new systemic risks into the financial system that are not already being risk managed, underwritten and insured in the market today.

The Australian launch of our Equity Preservation Mortgage™  is planned for mid 2022 with Futureproof currently in discussions with an initial group of leading financial institutions in Australia as Product Issuers.

Past News

Q4/2020 – Royal Commission into Aged Care 

 Futureproof Submission

 

 

The response of Australia’s financial institutions to the Royal Commission has been under-whelming. 

Traditional banks & insurers need to decide whether to be part of the solution or continue to be part of the problem – because the team at Futureproof will continue to drive change for the better.

  Read more about fintech and insuretech innovation bringing whole-of-life funding solutions and breakthrough financial products for each life-stage of retirement & aged care, in our Submission to the Royal Commission into Aged Care.

A response from Government is expected after the May 2021 Federal Budget and ahead of the next Federal election due on or before 21 May 2022. 

 

 

Past News

Q1/2021 – Media Release – Aged Care Royal Commission

 New AUD $2.5M Trillion Capital Pool

Futureproof today issued a Media Release to the financial press in its Australian R&D test market. 

With an average mortgage loan size of AUD$880,000, our Equity Preservation Mortgage™ – an innovative new type of equity release mortgage – is identified as the only financial instrument in the world capable of responsibly unlocking substantial home equity. 

Through conversion to home capital, a new asset class is created to make available, for the first time, the $2.5 trillion capital pool for self-funding retirement and aged care in Australia.

Home capital is the last remaining asset class of sufficient size and capital depth to make a fiscal difference for Governments seeking solutions to funding shortfalls and to address fiscal issues arising from the rapidly deteriorating dependency ratio of taxpayers:retirees caused by the ageing population.

Past News

Q1/2021 – New Fintech Partnership

Futureproof Completes Investment in Stropro Technologies

Structured products can play an important role in the asset mix of investors alongside traditional asset classes. 

Depending upon the design of each, structured products can be used within a portfolio to remove market volatility, protect capital whilst investing tactically or enhance income in low interest rate environments.

Futureproof has recently entered into a strategic relationship with fintech disrupter, Stropro.

 Led by ex-Citi executives, Stropro has democratised structured products as a platform-enabled business bringing institutional capabilities to wholesale and sophisticated investors.

Structured products arranged by Stropro are issued by leading investment banks and supported by institutional guarantees.