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 VC 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.
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.