Challenge
A start-up had developed technology that could help insurers underwrite more profitably. It was working with a few insurance companies, but struggling to get noticed beyond its founders’ existing network. Even after positive conversations with prospective clients, it remained a challenge to gain the confidence of their prospect’s risk-averse colleagues.
Solution
The company joined InsTech as a corporate member to build its brand, refine its positioning and grow its business.
InsTech arranged a call with the start-up’s founders to learn more about the company and the problems it was facing. We discussed the product’s key strengths and differentiators and suggested how the company could position itself to get more attention from insurers. We introduced them to a later-stage insurance technology founder who experienced a similar problem a few years ago; they were pleased to offer advice.
When the company settled on some new messaging it wanted to try, we worked together to create a member spotlight article introducing the company to the community. We promoted the article through our newsletters and LinkedIn, and it was read by several key target clients.
During the membership, InsTech also published a report to help insurers understand the landscape for a particular type of technology. The report profiled this start-up alongside established companies in its field.
Result
The company’s new positioning has helped generate more interest from insurers. More initial conversations with prospects are turning into real opportunities in its pipeline.
The company’s brand is also becoming more recognised through featuring in InsTech reports and newsletters. One of the founders recently spoke to an underwriter they had never met at an InsTech event; the underwriter instantly repeated back their company’s tagline.
Networking opportunities at events and through direct introductions to other founders has helped the founders shape their strategy and build mutually beneficial partnerships with other technology companies.
Learn more about working with InsTech