Insurtech start-ups need to consider timing and their teams if they want to succeed in the sector, according to five founders of failed companies. The founders told Insurance Post that start-ups must make sure their products meet a market need, have adequate funding, remain agile and ensure that team members are united around the same goals. “Companies should be thinking about how do we create an environment where people can work together on projects without having to worry too much about whether or not they’re going to get paid,” said one founder
Insurtech start-ups need to consider timing and their teams if they want to succeed in the sector, according to five founders of failed companies. The founders told Insurance Post that start-ups must make sure their products meet a market need, have adequate funding, remain agile and ensure that team members are united around the same goals. When one unnamed interviewee built a mobile-only insurance app in 2010, "the market was just not ready," they said.