Boost Insurance, Insurtech Development Platform
Finding Genius Podcast
Richard Jacobs
4.4 • 1K Ratings
🗓️ 7 June 2018
⏱️ 20 minutes
🧾️ Download transcript
Summary
Boost is a B2B insurtech development platform built to solve three critical issues faced by entrepreneurs in the insurance industry — (i) the glacial go-to-market pace for new products, (ii) the integration and data flow issues experienced between high tech startups and low-tech insurance companies, and (iii) the cultural disconnect between incumbents and startups.
Transcript
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| 0:00.0 | Welcome to Almost Here, Around the Corner of Future Technology Podcasts with Richard Jacobs. |
| 0:07.6 | Future technologies are always to transform our lives for better or worse or the focus of this podcast. |
| 0:13.3 | Almost here means these technologies are now here and starting to be used. |
| 0:17.8 | We're just around the corner, from Bitcoin to artificial intelligence, 3D printing, |
| 0:22.7 | blockchain, virtual reality, and more. |
| 0:25.9 | Hello, everyone, and welcome to Future Tech Podcast. I'm your host, Juliet Lamar. And we have |
| 0:31.9 | with us in the line, Alex Mofaio, the founder and CEO at Booth Insurance. Welcome, Alex. Hi, Julie. Thanks for having me. |
| 0:40.0 | So, Alex, tell us what are you giving insurance a boost. How Alice is working. |
| 0:45.1 | Sure. So I can give you a quick background of really how we got here because there was some personal |
| 0:50.4 | motivation to starting Boost. I spent the last 10 years or so in the venture capital |
| 0:55.8 | world, and I was focused on investing in early stage and growth stage technology companies in |
| 1:02.2 | the financial services industry. And one of my main areas of focus were companies that were |
| 1:08.3 | innovating in the insurance industry. And, you know, my investment experience kind of ranged from both, you know, |
| 1:14.8 | your traditional sleepy insurance investments. |
| 1:17.6 | And then more recently, this whole wave of innovation started happening in the insuretech world. |
| 1:25.0 | And you saw a whole batch of really talented technology-focused |
| 1:31.5 | entrepreneurs investing a lot of time, energy, and brainpower in the insurance industry for the first |
| 1:38.1 | time, basically ever. I think what they saw was, you know, a really huge, slow-moving, low-tech industry that was |
| 1:47.4 | ripe for, at minimum, improvement, but at most, actual disruption. And, you know, in our |
| 1:56.5 | experience at the VC firm, I was at, we had a lot of actual insurance experience. So we were pretty |
| 2:02.8 | well positioned, we thought, to take advantage of early stage opportunities. We understood both the |
| 2:08.3 | technology component, but also, and most importantly, the insurance aspect of things. So we started |
... |
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