0
STARTING A CAR
INSURANCE
COMPANY
IN GREECE
LAUNCHING A START-UP
AT A TIME OF CRISIS
THE CHANGE IS YOU
PRESENTATION
APRIL 2...
¡  A NEW, DIRECT INSURANCE COMPANY IN GREECE.
¡  “CHANGING THE GREEK INSURANCE MARKET, ONE POLICY AT A TIME”.
¡  WE ARE...
PRE-SEED SEED ROUND I
CUMULATIVECASHFLOW
ROUND II ROUND III ROUND IV
ANGELS
<EUR 100k EUR 500k-1m EUR 1-5m EUR 5-10m
8-10 ...
WHY
GREECE?
A SCREWED UP COUNTRY:
GREECE IS RUN BY CROOKS
AND INCOMPETENT
POLITICIANS.
A RESET OPPORTUNITY:
GOING THROUGH ...
WHY CAR
INSURANCE?
OBLIGATORY BY LAW:
EUR 2BN MARKET SIZE.
LETHARGIC COMPETITION:
HIGH COSTS AND
INEFFICIENCIES.
MIDDLEMAN...
WHY
NOW?
STRUCTURAL CHANGES:
TROIKA INTRODUCED
BETTER REGULATION.
STRONGER DEMAND:
TECHNOLOGY FUELLING
THE RISE OF THE
CON...
CHALLENGES
THREE
BIG
SECURE (REAL) FUNDING.
2,500 APPROACHES
300 MEETINGS
11 INVESTORS
1.5 YEARS
FINDING INVESTORS WASN’T EASY …
1 IN 8
1 IN 27
99.56%
REJECTION
RATE.
THERE IS A HIGHER
CHANCE OF BETTING
ALL YOUR MONEY ON
BLACK IN A LAS VEGAS
ROULETTE AND
WINNING…
… ...
BUILD A GREAT COMPANY.
INVEST IN TECHNOLOGY.
ALGORITHMIC PRICING.
CLOSE TIES WITH
ACADEMIA.
KEEP INNOVATING:HIRE THE BEST:
INTELLIGENCE.
PASSION....
GET YOUR MESSAGE OUT.
APPEAL TO THE INNOVATORS FIRST.
NOT EVERYONE WILL GET IT – TARGET YOUR TRIBE FIRST!
Word of
Mouth
“SHAKEN NOT STIRRED”.
RUSSIAN
INVESTOR.
ATHENS, GREECETEL AVIV, ISRAEL
“HAPPY HANNOUKAH”.
ISRAELI
INVESTOR.
LONDON, UK
“PR...
SELECTED AS
ENDEAVOR
ENTREPRENEURS
IN 2012.
WON FOUR
E-VOLUTION
AWARDS
IN 2013 AND 2014.
CHOSEN AS A
BEST PLACE
TO WORK
IN...
THANK
YOU!
WWW.HELLASDIRECT.GR
ALEXIS.PANTAZIS@HELLASDIRECT.GR
EMILIOS.MARKOU@HELLASDIRECT.GR
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Hellas Direct - The Change is YOU Presentation (Apr 2014)

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Presentation by Emilios and Alexis, co-founders of Hellas Direct, at the The Change is YOU event in Nicosia, Cyprus. [Occhio Club - 24 Apr 2014]

Published in: Business, Economy & Finance
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Transcript of "Hellas Direct - The Change is YOU Presentation (Apr 2014)"

  1. 1. STARTING A CAR INSURANCE COMPANY IN GREECE LAUNCHING A START-UP AT A TIME OF CRISIS THE CHANGE IS YOU PRESENTATION APRIL 2014
  2. 2. ¡  A NEW, DIRECT INSURANCE COMPANY IN GREECE. ¡  “CHANGING THE GREEK INSURANCE MARKET, ONE POLICY AT A TIME”. ¡  WE ARE HIGHLY SPECIALISED. ¡  WE LIVE AND BREATHE TECHNOLOGY. ¡  WE LOVE NUMBERS. ¡  WE SERVICE THE CONSUMER, NOT THE BROKER! ¡  32 PEOPLE IN 3 COUNTRIES. ¡  A LONG JOURNEY: 3 YEARS FROM START TO OUR FIRST SALE. ¡  RAISED EUR 12M FROM A GROUP OF ANGEL INVESTORS. HELLAS DIRECT: OUR STORY.
  3. 3. PRE-SEED SEED ROUND I CUMULATIVECASHFLOW ROUND II ROUND III ROUND IV ANGELS <EUR 100k EUR 500k-1m EUR 1-5m EUR 5-10m 8-10 YEARS 1/3 IPO EUR 100-500k ‘VALLEY OF DEATH” xx EARLY-STAGE LATE-STAGE 1/2 2/3 4/5 EXPANSION FOLLOW-ON EUR 30-50m EUR 50m> GROWTH EUR 10-30m BREAK EVEN START-UP SURVIVAL RATE THE ‘WHAT THE FUCK’CHART OF THE DAY. ENTREPRENEURS LIVE IN A REALITY DISTORTION FIELD.
  4. 4. WHY GREECE? A SCREWED UP COUNTRY: GREECE IS RUN BY CROOKS AND INCOMPETENT POLITICIANS. A RESET OPPORTUNITY: GOING THROUGH A HUGE TRANSFORMATION. LARGE ENOUGH: A MARKET OF 11M PEOPLE.
  5. 5. WHY CAR INSURANCE? OBLIGATORY BY LAW: EUR 2BN MARKET SIZE. LETHARGIC COMPETITION: HIGH COSTS AND INEFFICIENCIES. MIDDLEMAN IS STILL KING: OBSENE COMMISSIONS.
  6. 6. WHY NOW? STRUCTURAL CHANGES: TROIKA INTRODUCED BETTER REGULATION. STRONGER DEMAND: TECHNOLOGY FUELLING THE RISE OF THE CONSUMER. DROPPING COSTS: THIS IS THE BEST TIME TO BUILD A BRAND.
  7. 7. CHALLENGES THREE BIG
  8. 8. SECURE (REAL) FUNDING.
  9. 9. 2,500 APPROACHES 300 MEETINGS 11 INVESTORS 1.5 YEARS FINDING INVESTORS WASN’T EASY … 1 IN 8 1 IN 27
  10. 10. 99.56% REJECTION RATE. THERE IS A HIGHER CHANCE OF BETTING ALL YOUR MONEY ON BLACK IN A LAS VEGAS ROULETTE AND WINNING… … 7 CONSECUTIVE TIMES! … AND THE ODDS WERE NOT ON OUR SIDE.
  11. 11. BUILD A GREAT COMPANY.
  12. 12. INVEST IN TECHNOLOGY. ALGORITHMIC PRICING. CLOSE TIES WITH ACADEMIA. KEEP INNOVATING:HIRE THE BEST: INTELLIGENCE. PASSION. A DRIVE TO MAKE THINGS BETTER. GET LICENCED: A YEAR OF PAPERWORK. DETAILED BUSINESS PLANNING. LATEST EU REGULATIONS. THREE BASIC INGREDIENTS NEEDED.
  13. 13. GET YOUR MESSAGE OUT.
  14. 14. APPEAL TO THE INNOVATORS FIRST. NOT EVERYONE WILL GET IT – TARGET YOUR TRIBE FIRST! Word of Mouth
  15. 15. “SHAKEN NOT STIRRED”. RUSSIAN INVESTOR. ATHENS, GREECETEL AVIV, ISRAEL “HAPPY HANNOUKAH”. ISRAELI INVESTOR. LONDON, UK “PRESS 4 FOR HELP”. SOUTH AFRICAN INVESTOR. SOME DAYS ARE TOUGHER THAN OTHERS.
  16. 16. SELECTED AS ENDEAVOR ENTREPRENEURS IN 2012. WON FOUR E-VOLUTION AWARDS IN 2013 AND 2014. CHOSEN AS A BEST PLACE TO WORK IN 2014. THE LITTLE THINGS MAKE IT ALL WORTHWILE.
  17. 17. THANK YOU! WWW.HELLASDIRECT.GR ALEXIS.PANTAZIS@HELLASDIRECT.GR EMILIOS.MARKOU@HELLASDIRECT.GR
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