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SaaS Interviews with CEOs, Startups, Founders

EP 596: ClaimCompass Has Helped 1000 Airline Passengers Get $420 Each Back From Airlines for Cancelled Tickets and Lost Items with CEO Tatyana Mitkova

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

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

4.6683 Ratings

🗓️ 12 March 2017

⏱️ 16 minutes

🧾️ Download transcript

Summary

Tatyana Mitkova. She’s the CEO and founder of ClaimCompass, a company that helps airline passengers submit a claim online for cancelled, delayed or overbooked flights.

Famous Five:

  • Favorite Book? – How to Win Friends and Influence People
  • What CEO do you follow? –  Kathryn Minshew
  • Favorite online tool? — Slack
  • Do you get 8 hours of sleep?— No
  • If you could let your 20-year old self, know one thing, what would it be? – “Her life is to become more and more interesting with every decision she makes that takes her out of her comfort zone”

 

Time Stamped Show Notes:

  • 01:26 – Nathan introduces Tatyana to the show
  • 01:42 – ClaimCompass get airlines to pay up to $680 for cancelled flights
  • 01:51 – Flights could be delayed, cancelled or overbooked
  • 02:05 – ClaimCompass can help you get paid for your lost baggage
  • 02:13 – ClaimCompass is based on the regulations in Europe
  • 02:29 – More than 90% of airline passengers are unaware of their rights
  • 02:46 – ClaimCompass tries to speed up the claiming process for passengers
  • 02:49 – ClaimCompass has a web app and passengers can submit a claim online
  • 03:03 – ClaimCompass makes money by keeping a 25% success-based commission
  • 03:25 – ClaimCompass is growing 75% month over month, in the last 3 months
    • 03:39 – In January, ClaimCompass will reach a thousand claims
  • 03:43 – Average claim refund is $420
  • 03:58 – Average MRR
  • 04:11 – ClaimCompass has their own internal software for their claims management system
  • 04:36 – ClaimCompass has established relationships with more than 50 airlines
  • 04:55 – Team size
  • 05:24 – ClaimCompass was launched, in 2016, as a side project
  • 05:48 – Tatyana and the co-founders have their own stories about getting frustrated with an airline
  • 06:04 – Tatyana has a legal background
  • 06:24 – ClaimCompass was bootstrapped and got into the 500 Startups program, in Europe, 2 months ago
  • 06:40 – ClaimCompass has raised $150K
  • 07:02 – Plans for 2017
  • 07:10 – “Our goal is to reach as many passengers as possible”
  • 07:50 – CAC
  • 08:20 – ClaimCompass’ paid ads expenses are increasing
  • 08:53 – ClaimCompass had their demo day on the 15th of February at the 500 Startups program
  • 09:00 – Tatyana believes they will have their seed round in 6 months
  • 09:51 – Tatyana is looking to raise a million in their next round
  • 10:12 – One of ClaimCompass’ biggest competitors is AirHelp
  • 11:00 – Tatyana believes that if they partnered with online travel agencies, they can reach more people
  • 11:18 – Flight Right and Refund.me are some of ClaimCompass’ competitors, too
    • 11:31 – Some of ClaimCompass competitors’ business models can make you lose money
  • 13:00 – The Famous Five

 

3 Key Points:

  • More than 90% of airline passengers are unaware of their rights – we should know our rights to make an appropriate claim.
  • Not all business models are the same – study the company first, to be aware of the charges.
  • Every step out of your comfort zone, leads to something far more interesting for you.

 

Resources Mentioned:

  • Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
  • Drip – Nathan uses Drip’s email automation platform and visual campaign builder to build his sales funnel
  • Toptal – Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn’t have to hire a co-founder due to the quality of Toptal
  • Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
  • Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
  • The Top Inbox  – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
  • Jamf – Jamf helped Nathan keep his Macbook Air 11” secure even when he left it in the airplane’s back seat pocket
  • Freshbooks – Nathan doesn’t waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
  • Show Notes provided by Mallard Creatives

Transcript

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0:00.0

This is the top, where I interview entrepreneurs who are number one or number two in their industry in terms of revenue or customer base.

0:09.0

You'll learn how much revenue they're making, what their marketing funnel looks like, and how many customers they have.

0:16.0

I'm now at $20,000 per talk.

0:18.0

Five and six million.

0:19.0

He is hell-bent on global domination.

0:21.2

We just broke our $100,000 unit sole mark.

0:23.9

And I'm your host, Nathan Latka.

0:27.5

Okay, Top Tribe, this week's winner of the $100 is Zach Ferran.

0:32.7

He's a 22-year-old Apple employee, and he's listening to the show and loving it.

0:38.7

For your chance to win 100 bucks every Monday, simply subscribe to the podcast on iTunes now

0:43.8

and then text the word Nathan to 33444 to prove that you did it to enter.

0:50.1

Top Tribe, you know I don't have a lot of time to waste.

0:52.9

That's why I use fresh books to send out invoices and make sure I'm collecting my money.

0:58.4

To get your free month, go to Nathan Latka.com forward slash fresh books and enter the top in the How Did You Hear About Us section?

1:06.7

Nathan Latka here, this is episode 596, and coming up tomorrow morning, you'll learn from

1:11.9

Will Dinkle of Nova.AI. They've passed 100 customers and I've raised $2.2 million to help

1:19.2

sales development reps sell more using artificial intelligence. Good morning, everybody.

1:26.5

Nathan Latka here. Our guest today is Tadiana Mitkova. She is the CEO and founder of Claim Compass. We're going to dive into it today. Tatiana, are you ready to take us to the top?

1:36.0

Sure. All right, very good. Tell us what Claim Compass does and how you make money.

1:40.4

So in one sentence, we get airlines to pay up to $680 for screwing up your flight.

1:46.8

Very good. So what does that mean? Like it's delayed or it's canceled or what?

1:51.2

Exactly. It could be delayed, canceled, overbooked. The airline could have lost your luggage. It's a bunch of stuff that we help passengers deal with.

...

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