Administration of UK InsurTech Company

Moorfields were appointed as Administrators over Get Honcho, a UK-based InsurTech company that developed a value comparison marketplace for insurance products.

The business had engaged in a prolonged period of discussions with prospective purchasers within the insurance industry. Despite these efforts, no sale materialised, and the company was unable to continue trading as a going concern. Moorfields were appointed to manage a structured wind-down while maximising the value of the company’s intellectual property (IP).

Objectives

• Wind down operations of the business in an orderly and compliant manner
• Protect and realise value from intellectual property (IP), including technology, software, and branding
• Engage with potential purchasers to market the IP and secure a sale where possible
• Ensure stakeholder compliance, including employee and regulatory obligations
• Maximise recoveries for creditors through structured asset realisation

Moorfields’ Actions

• Conducted a full review of the company’s IP portfolio and identified potential buyers within the insurance and InsurTech sectors
• Marketed the IP to prospective purchasers, seeking to maximise value for creditors
• Managed all employee redundancies and statutory obligations in accordance with employment law
• Maintained transparent communication with stakeholders to provide reassurance throughout the process

Results

• The business was successfully wound down in an orderly and compliant manner
• The company’s intellectual property was actively marketed to interested parties, preserving potential value
• Employees and stakeholders were managed professionally and statutory obligations were fulfilled
• Creditors’ recoveries were maximised through careful management of IP and other assets
• Moorfields delivered a controlled exit strategy, balancing operational wind-down with value preservation