© 2019 Auto & General SEA.
Are you looking for an investor or business partner for your venture? Before you make any decisions, take a moment….
Do you really want to work with incumbent insurers or big corporates? Sure, they have digital villages, garages, hubs and labs. Whatever. They are still corporates. Ask yourself, what have any of these corporates actually disrupted, innovated, created and launched themselves in the last year, or even last five years? Is it really the best place for you? Jobs, Gates & Bezos used actual garages not some fancy big corporate version.
‘Mentors’– sure it is important to get quality advice. But ask yourself when talking to them. Have they ever actually built anything or are they consultants or “salarymen” who like the idea of working in the InsurTech/Tech space? Have they ever put their own money/personal reputation on the line and built something?
Capital raising – endless roadshows, pitches to those who have never built anything themselves. Exhausting, you never raise all the capital you need and you give away much of your idea/IP to the industry.
Is there an alternative? There is.
Like you, we are entrepreneurs and have been in the InsurTech space in Asia since 2006. We aren’t a big corporate or insurer with a ‘digital agenda’ – we are digital. Along the way I have learnt a lot and that the choice of co-investor is of course critical. Today I have a fantastic co-investor (with a track record of more than 35 years in InsurTech, and more recently Tech) who I know could be a fantastic co-investor for you. In less than two years in Southeast Asia, we’ve launched two licensed digitally-led consumer businesses – Budget Direct Insurance in Singapore and EasyCompare in Thailand. I am sure you would enjoy this environment as much as I do.
Why not join us and work with real entrepreneurs actually building things. Drop us a note at email@example.com and we’ll come back to you with next steps.
SimonFounding Director & CEOAuto & General, Southeast Asia