Innovation

What Innovation does

Innovation (legal entity: Innovation Business Vision) is a privately held specialist consultancy founded around 1992, headquartered in Hong Kong with regional offices in Singapore and Stirling, United Kingdom. The firm delivers complex change projects on behalf of insurers and investment firms, supplying expert project and programme managers who support actuaries, accountants, and senior business users across actuarial/risk modelling, business transformation, corporate strategy, finance transformation, regulatory change (IFRS 17, RBC, IBOR), Target Operating Model development, M&A, and outsourcing initiatives. The company's stated track record spans 33 years in the insurance industry, with marquee engagements including the London Stock Exchange 'Big Bang' (1983), the Prudential HK transformation from UK branch to standalone subsidiary, AIA Group TOM projects, and a Manulife actuarial modelling programme.

Innovation operates two productised offerings alongside its consulting practice. Keystone is a RegTech document management platform designed to draft, approve, and publish complex and regulated documents from a single interface, targeted at financial services and other regulated industries, and built on technology provided by partner Objective. Keystone Resources is a supplementary support and resource layer for Keystone users. The Innovation Delivery Centre (IDC) is an outsourced project support office solution intended to embed project management standards and delivery consistency across major client engagements. The firm uses cloud-based project management tools (including Clarizen) and an in-house delivery framework.

Revenue derives from two streams: professional services (consultancy project delivery, the dominant revenue line) and Keystone software licensing under multi-year enterprise contracts with custom quote-based pricing. Distribution is direct enterprise sales to financial services and increasingly energy/utilities buyers across Asia and Europe, supported by a curated partner ecosystem that includes Objective, Legerity, Actuarial Partners, The Digital Insurer, and several implementation partners. No external funding, M&A, or institutional ownership has been disclosed.

Name

Innovation

Legal name

Innovation Business Vision

Website

https://innovation.co.uk

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Short description

Innovation (Innovation Business Vision) is a privately held specialist consultancy delivering complex change projects and specialist project managers to insurance and investment firms across Asia and Europe, with a RegTech document management product, Keystone.

Ownership category

akta.pro rank

Product category

Financial Services Consulting

NAICS

Management Consulting Services (54161), Software Publishers (51321), Computer Systems Design Services (541512)

SIC

Services-Management Consulting Services (8742), Services-Engineering, Accounting, Research, Management (8700), Services-Computer Programming Services (7371)

akta.pro primary industry

Organization Design & Change Management Consulting (BPAHACAD)

akta.pro secondary industries

Change Management & Transformation Consulting (BPAHAGAC), Digital Strategy & Transformation (BPAHAEAA), Enterprise Application Training, Change Management & Adoption Services (BPAEAGAN)

Keywords

• Insurance consulting services
• Regulatory change advisory
• Target operating model
• Actuarial transformation consulting
• Document management platform

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Professional Services / Consulting: Innovation provides specialist consultancy services delivering change projects for insurers and investment firms. Services include actuarial/risk modelling, business transformation, corporate strategy, customer proposition, finance transformation, market entry, risk-based capital, regulatory change, automation projects, capital management, M&A/bancassurance, outsourcing, product development, and TOM delivery.
2. Keystone Software Licensing: Keystone is a RegTech product for document management in regulated industries. Revenue likely comes from software licensing or subscription fees for the platform.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Innovation is a specialist consultancy that delivers complex change projects on behalf of insurers and investment firms, supplying expert project and programme managers who support large organisations in actuarial/risk modelling, regulatory change (IFRS 17, RBC, IBOR), finance transformation, Target Operating Model delivery, M&A, and business transformation. The firm also sells Keystone, a proprietary document management platform for regulated industries, and runs Innovation Delivery Centres (IDC) that embed project management standards at client sites.

Product overview

Innovation is a consulting and professional services firm specializing in project delivery and change management for financial services (insurance, banking, investment, M&A, risk), energy, and regulated industries. The company's product portfolio centers on Keystone, a document management platform designed for regulated document production and content management in financial services. Keystone Resources provides supplementary support materials. Innovation offers consulting services including actuarial/risk modelling, business transformation, corporate strategy, finance transformation, market entry, regulatory change (RBC, IFRS 17, IBOR), and Target Operating Model development. The firm operates Innovation Delivery Centres to support large assignment delivery.

Differentiator

Problem solved

Functional benefit

Brands

• Keystone: A document management and content collaboration platform designed to help regulated industries manage complex document workflows, version control, and compliance verification.
• Innovation Delivery Centre (IDC)

Products and services

• Specialist Project and Programme Management Consulting Specialist consultancy delivering complex change projects on behalf of insurers and investment firms. Services include actuarial/risk modelling, business transformation, corporate strategy, customer proposition, finance transformation, market entry, risk-based capital, regulatory change (IFRS 17, IBOR), automation projects, capital management, M&A/bancassurance, outsourcing, product development, and TOM delivery. For enterprise financial services organisations.
• Keystone A document management platform designed to manage complex and regulated documents with ease. Enables users to draft, approve, and publish documents with speed and accuracy from a single platform, with specific features for regulated industries such as financial services.
• Keystone Resources Resource materials and support tools for Keystone document management platform users.
• Innovation Delivery Centre (IDC) An outsourced project support office solution designed to embed project management standards and deliver consistency across major projects at client organisations.

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Seven partnerships are on record, tiered core and minor.

• Objective (Keystone)coreTechnology or IntegrationObjective provides the technology platform for Keystone, Innovation's RegTech product for managing regulated documents. This appears to be a technology partnership for the Keystone document management solution.
• Actuarial PartnersminorStrategic or Co-development PartnerActuarial consulting partner providing subject-matter expertise in insurance actuarial work.
• Distinctive PerformanceminorImplementation/ SI/ Consulting PartnerConsulting partner providing performance improvement and delivery expertise.
• Hallmark Engineering GroupminorImplementation/ SI/ Consulting PartnerEngineering partner providing technical implementation support.
• Legerity FinancialsminorImplementation/ SI/ Consulting PartnerFinancial consulting partner offering IFRS 17/9 customisable-off-the-shelf solutions, mentioned in IFRS 17 implementation content.
• The Digital InsurerminorChannel Partner/ Reseller/ DistributorPartner providing digital insurance market access and distribution expertise.
• EES-Solutions EngineeringminorImplementation/ SI/ Consulting PartnerEngineering solutions partner for technical implementations.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Delta Capita: Financial services consulting and services firm with strong regulatory, capital markets, and insurance operations focus. Directly comparable to Innovation in supporting insurers and investment firms through regulatory and operational change.
• Baringa Partners: Independent consultancy specialising in energy, financial services, and commodities. Closely comparable to Innovation in its focus on complex change and regulatory projects for FS clients, including insurance and risk.
• Capco: Global financial services management and technology consultancy. Directly comparable to Innovation in serving banks, insurers, and investment firms on change, regulatory, and transformation programmes, with overlap on insurance transformation and risk/regulatory change.
• Projective Group: Specialist consultancy for financial services, with strong insurance, pensions, and risk practices. Comparable to Innovation in delivering large-scale change, IFRS 17, and regulatory projects in the insurance sector.
• Alpha FMC: Asset and wealth management consultancy serving investment firms and insurers. Comparable to Innovation in its FS-vertical focus, particularly in investment, risk, and operating model work for insurance and asset managers.

Broad incumbents

• Accenture: Global professional services firm with a large financial services practice. Overlaps with Innovation on insurance transformation, regulatory change, and finance transformation, but operates at vastly greater scale and breadth.
• KPMG: Big 4 firm offering insurance consulting, actuarial, and risk advisory services. Overlaps directly with Innovation's regulatory change, risk-based capital, and finance transformation offerings.
• EY (Insurance and FS Consulting): Big 4 firm with a major insurance and actuarial consulting practice. Competes with Innovation on IFRS 17, Target Operating Model, and finance transformation projects for insurers globally.

Emerging players

• Onit: Enterprise workflow and document management platform with RegTech capabilities for financial services. Closely comparable to Keystone as a regulated document drafting, approval, and publishing platform for banks and insurers.
• ClauseMatch: RegTech vendor providing document and policy management for regulated financial institutions. Comparable to Innovation's Keystone product for managing complex regulatory documents and compliance workflows.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Innovation