Sir Richard Branson (2012)
Oldest man to kitesurf
across the English Channel.
THERE ARE A BUNCH OF CRAZY THINGS YOU
COULD DO TO PICK YOURSELF UP
Hugh Hefner (2013)Felix Baumgartner (2012)
Married to a 26-year old
when he turned 86.
Skydived from space,
breaking the speed of sound.
… IN INSURANCE, IN GREECE, IN 2012!
OR YOU COULD START A NEW VENTURE
SO, WHO ARE WE? WHAT DO WE DO? HOW DID WE GET HERE?
TIP OF THE DAY:
BE BAD FOR
A LONG, LONG TIME AGO IN A GALAXY* FAR FAR AWAY…
* IN LONDON
Larry Page + Sergey Brin
LIKE MOST ENTREPRENEURS, WE SET OFF
THINKING WE’D BE THE NEXT GOOGLE GUYS …
* until this
GOOGLE: Largest tech IPO in history*.
PRE-SEED SEED ROUND I
ROUND II ROUND III ROUND IV
<EUR 100k EUR 500k-1m EUR 1-5m EUR 5-10m
… KNOWING THAT REALITY CAN BE HARSH
(9/10 START-UPS FAIL)
1/2 2/3 4/5
EUR 30-50m EUR 50m>
SO, WHY GREECE?
A COUNTRY RUN BY
GOING THROUGH A
LARGE ENOUGH –
AND WHY CAR INSURANCE?
OBLIGATORY BY LAW
– HIGH COSTS AND
MIDDLEMAN IS STILL THE
KING WITH OBSENE
COMMISSIONS – BROKERS
EUR 2BN MARKET SIZE
THE RISE OF THE
BEST TIME TO
BUILD A BRAND
¡ 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!
¡ 23 PEOPLE IN 3 COUNTRIES.
¡ A LONG JOURNEY: 3 YEARS FROM START TO OUR FIRST SALE.
¡ WE HAVE FACED THREE KEY CHALLENGES ALONG THE WAY…
Invest in technology
Close ties with academia
Keep innovatingHire the right people
A drive to make things better
A year of paperwork
Detailed business planning
Latest EU regulations
THERE ARE THREE BASIC INGREDIENTS TO
BUILDING A GREAT INSURANCE COMPANY
LIKE ANY NEW IDEA, APPEAL TO THE
INNOVATORS AND EARLY ADOPTERS FIRST
(NOT EVERYONE WILL GET IT – TARGET YOUR TRIBE FIRST!)
SOME DAYS ARE TOUGHER THAN OTHERS …
Tel Aviv, IsraelLondon, UK Athens, Greece
“Shaken not stirred”
“Press 4 for help”
South African investor
… BUT IT IS THE LITTLE THINGS THAT
MAKE IT ALL WORTHWHILE
I have just insured my car with Hellas
Direct in under 5’. If all other
services (private or public) were as
friendly to the user as this one, our
productivity would be much higher
and we would all be much calmer…
- a client’s facebook post