Most insurtechs will fall by the wayside so before you spend your own working capital and/or investment funds ask these questions from Matthew Grant.
- Does the business solve one big problem?
- Does it do the job better than people can do it themselves?
- Does it at least address one of: REVENUE GENERATION, COST SAVINGS & COMPLIANCE/REGULATION?
- Is there a passionate user community?
- Are the required analytics included not optional?
- Has the product become a source of competitive advantage for existing users?
- Are others building products around the insurtech solution?
- The people- do your gut instincts say they are credible?
Read the full article below
Has the product becomes a source of competitive advantage for the users? In the early stages of adoption look out for companies that are gaining competitive edge by having a product before their competitors. As usage spreads, look out for those that are declaring publicly how effectively they use the product compared to their competitors. But once the product starts to get mentioned by insurance CEOs in their investor presentations, it will probably be too late to invest unless you have very deep pockets.
https://www.linkedin.com/pulse/falling-love-insurtech-doctor-see-you-now-matthew-grant/?published=t
unknownx500
