The insurance industry is extremely complex and can be very challenging to break into as an industry outsider. After being in a minor car accident, Snejina’s premium increased. Like any of us, she went online to find a better option only to realize that a marketplace for insurance didn’t exist. Existing sites were all lead gen. The complexity of the insurance industry probably kept other entrepreneurs from trying to build this type of marketplace, but it was the a-ha moment that led Snejina to take on this challenge, which has required a tremendous amount of grit and determination.
Insurify is reimagining the way you compare, buy, and manage your insurance online. Through artificial intelligence, they make insurance shopping simple, affordable, and hassle-free. The company recently announced $23M in Series A funding led by MTech Capital and Viola FinTech, with participation from Nationwide, Hearst Ventures, and MassMutual Ventures.
In this episode of our podcast, we cover:
* Snejina’s background growing up in Bulgaria and her professional career, including her move to the U.S.
* What led her down the path of starting Insurify and why she spoke with hundreds of people in the insurance industry before even starting to build out the core product.
* How she landed her first insurance carrier which created a snowball effect.
* The current state and scale of Insurify, plus its growth plans ahead.
* Advice on building a customer acquisition strategy.
* And so much more.
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