Lovys, One Year After
This post originally appeared on blog.up.co
by the Lovys team, from Techstars Class 111
Roughly one year ago we started our new adventure in France by setting big goals! We were thrilled by the ambition of giving to french customers a better solution for the way they buy any type of insurance. We were getting to a market that had been seen little changes since 15 to 20 years ago and whose actors have not been changing much either. France was known in this market by its solid insurance groups that despite their incredible resources were not managing to reinvent the way people relate to insurance products. What was wrong with the market? In many cases, purchasing and claim reporting were not 100% digital. In most of the cases, the interface with customer were full of jargon and poorly designed. In almost every case, insurance companies were giving no freedom to people to cancel their insurance whenever they wanted to.
So one year ago we challenged ourselves to build the most flexible digital insurance of the market. We wanted to offer people a faster purchase, clearer language and a painless management. All this in a form of a monthly subscription where everything they pay is clear and that they cancel or change anytime. One year after, we are glad to say we already launched insurance for smartphones - and home insurance is just about to being launched! Also, we are very glad with our UI/UX design of our website we are just finishing and can’t wait to launch. Our next step is to build our car insurance service to launched early next year.
We are proud of the pace and that is thanks to our amazing team’s energy. Our crew has a very diversified background with one thing in common: our ambition to make the company grow fast (in addition to our taste for mexican food, of course). They have created the first insurance comparison websites in Brazil, led projects of new product development for cosmetics brands and worked for the first Uber’s pilot for helicopters pooling. And they are eager for what is to come.
Last but (definitely) not least: Techstars’ role in Lovys first steps! More than providing useful business advice and putting us in contact with great mentors and advisers (which they did more than we could have expected), the Techstars team created an unforgettable working atmosphere. They were the first ones to believe in our project and we would never be where we are today if it was not for their very early support. Techstars also greatly helped in our development by putting us in contact with large players in the insurance industry and give us the credibility to develop meaningful partnerships.
If we were to sum up our time at Techstars in two words: Dynamic and enthusiastic (or Family Dinner)