Building an insurance startup ? Alan, Luko, Coverd & Balderton

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At The Family, we believe that anyone can become a great entrepreneur. Find more info here:
With Rob Moffat, partner at Balderton Capital
Hugo Saias, CEO at Coverd
Léa Joussaume, Head of Marketing at Luko
& Mihaela Albu, Growth & Sales Strategy at Alan

You can find the slides here:

The insurance industry might look dusty at first glance but in fact it is full of opportunities. Let’s unveil the hidden secrets of the multi-trillion dollar insurance market ?

When we think about insurance, we automatically think about insurers themselves. Companies that we believe have lost contact with us, their customers, as we definitely don’t feel the love anymore.

The customer service side of things is the most visible opportunity for new players: If you put the right energy into reinventing the insurance experience, you’ll probably end up growing. But then there are also opportunities in data, distribution, new verticals (IoT, smartphones), new geographies… Many things are still out there waiting to be built on the entire insurance value chain. Even though the likes of Oscar, Root or Lemonade are now well-established in the US, new actors are still emerging here in Europe.

There are obstacles, for sure: regulations, balance sheet (need for capital), partnering with incumbents, historic data. But these aren’t going to stop an ambitious entrepreneur from tackling the problems they see.

After a global overview of the sector & today’s insurance trends by Rob from Balderton, we welcomed 3 startups on stage, with each delivering a talk on:

? How to build insurance brand awareness
By Hugo Saias, CEO at Coverd

? How to be an insurer without historical data & capital
By Léa Joussaume, Head of Marketing at Luko

? Beyond product and coverage
By Mihaela Albu, Growth & Sales Strategy at Alan

After the overview and talks, they all came back on stage to discuss shared topics during a mini-panel & answer the audience’s questions.

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