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INSEVO Advisory [SMART 100, 2018]

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This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

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1. THE BEGINNING

This innovation initially came to life when…

When I realised that insurtech and underwriting startups had no access to specialised expertise when it came to compliance, licensing, APRA, ASIC and insurance operations. I identified a segment in the market where tech based entrepreneurs were entering the insurance market as ‘insurtechs’ but had no knowledge or experience with the day to day operations of an insurance company, it’s requirements or the highly regulated market. They were shooting themselves in the foot when talking to insurers in an attempt to find insurance partners due to their lack of understanding, skills and knowhow when it came to insurance.

2. WHAT & HOW

The purpose of this innovation is to…

…provide experience, expertise and knowhow to insurtechs that we’ve accumulated over many years in the industry and by providing them with access to global insurance relationships that have been in place for decades.

It does this by…

…making it affordable, accessible and flexible to insurtechs that aren’t cash flow positive, that do not have the capital to hire CFO’s, risk and compliance managers, insurance financial managers and etc. The service provides bite size pieces of all the necessary skills and experience to get operational and into the insurance market.

3. PURPOSE & BENEFITS

This innovation improves on what came before because…

…it gives insurtechs a better survival rate and a better chance at success. It allows founders to focus on their core strengths in delivering technology and sales without the operational distraction.

Its various benefits to the customer/end-user include…

A focus on driving sales rather than getting stuck in red tape compliance, operations and licensing issues. A plug and go, hassle free and holistic approach to becoming operational and entering the market much faster and efficiently.

4. COMPETITIVE LANDSCAPE

In the past, this problem was solved by…

Expensive consulting firms.

5. TARGET MARKET

It is made for…

Insurtech startups, underwriting startups as well as existing insurance and reinsurance companies.

It is available for sale through…

Directly through our advisory and services arm on a flexible no lock in monthly arrangement.

Our marketing strategy is to…

Continue discussions with insurers / reinsurers and large brokerages to continue to understand their appetite on insurtech and investments so that we can continue to match make our clients with insurance partners. By also staying active in the insurtech scene and startup hubs.

 

FINE PRINT: This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

Maven Judge Vote: INSEVO Advisory – Smart 100 2018
(Please note – The form below is for judging purposes only and is restricted to the public)

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