1307 Insurance ChatBot Increases Quote Close Rate, $20k MRR

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6 • 683 Ratings

🗓️ 21 February 2019

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Jake Diner is an innovation and technology expert with two decades of experience in product management. He graduated from MSU with a degree in computer science.
After working for over a decade in corporate leadership roles, including positions at Belkin and Dell, Jake decided to use his experience to build start-ups with a focus on those serving the insurance industry. After exiting from his first InsureTech venture-backed startup he co-founded seven years ago, he currently serves as CEO of Elafris, a San Francisco-based company that has built artificial intelligence-powered chatbot technology designed to help insurers meet the engagement expectations of today’s consumer.

Transcript

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0:00.0	I had a lot of experience at Dell. Other companies decide to take the leap in 2016, put in about
0:04.7	500 grand, him and his co-founder of their own money to build El-Oferes, which basically is, again,
0:10.3	a chatbot for insurance agencies. It helps them get more payments. It helps them make more money
0:15.2	from their customers. They currently have four customers paying five grand a month, so 20 grand
0:18.6	a month and monthly recurring revenue. Their team of 14 based between San Francisco, Ohio, and Kiev, Russia.
0:25.7	Again, they're raising about $1.5 million right now, hoping to get a five or six cap on that.
0:30.5	This is the top entrepreneurs podcast where founders share how they started their companies and got
0:37.0	filthy rich or crash and
0:40.2	burn. Each episode features revenue numbers, customer counts, and other insider information
0:47.5	that creates business news headlines. We went from a couple of hundred thousand dollars to
0:53.2	$2. seven million.
0:54.4	I had no money when I started the company. It was a hundred and sixty million dollars,
0:58.0	which is the size of any IPOs. We're a bit strapped. We have like a 22,000 customers.
1:04.6	With over five million downloads in a very short amount of time,
1:08.8	major outlets like Inc are calling us the fastest growing business show on iTunes.
1:13.8	I'm your host, Nathan Latka, and here's today's episode.
1:18.3	Hello, everyone.
1:18.7	My guest today is Jake Diner.
1:21.3	He's an innovation and technology expert with two decades of experience in product management.
1:25.3	Currently, the company he's working on it is Elefris. We'll talk about that in a second, but first he graduated from MSU with a degree in product management. Currently, the company is working on it is Elefris.
1:28.0	We'll talk about that in a second, but first he graduated from MSU with a degree in computer
1:31.4	science. And after working for over a decade in corporate leadership roles, including positions
	...

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