4 hours ago
The first-customer-requires-coverage thing is the whole sale. Founders treat insurance like they treat security questionnaires: ignore it until a pilot is blocked, then they need a yes yesterday. I've sold through that motion a few times. The CAD-software denial is the same pattern as a form written for a bank. If you can get them covered without making them look like a different company, that's actually the product.
4 hours ago
Have you already gone through licensing and credentialing through the Division of Insurances in various states? Or are you just gauging interest at this point before the licensing steps? Asking because there is a whole E&O element on liability for you as the middleman.
3 hours ago
Thanks for asking! We are licensed in 15 states right now with the required E&O policies, and are expanding to more states in the coming weeks.
43 minutes ago
why cant i choose axa ?
2 hours ago
How is this different than Corgi?
2 hours ago
We focus on hardtech mainly, robotics, manufacturing, physical products. Corgi has not broken into this space as much as we hope to as these clients are typically much harder to insure than pure software companies. Also insurance is big: over $1.7 trillion dollars of premium was written last year.
19 minutes ago
Thank you - great response; so in other words, you can insure people that Corgi (and lots of other insurers) would eventually say "I'm sorry, but we just can't figure out how to insure you".
an hour ago
Risklytics are taking the boring, sensible approach of being a broker, modernizing the application process to broaden the type of clients that can be underwritten.
Corgi are taking the batshit insane approach of insuring clients directly through an esoteric insurance structure that dodges regulation.
Choosing Corgi over a typical broker is playing with fire.
https://reticulating.substack.com/p/ycombinators-corgi-insur...
18 minutes ago
I'm finding Corgi so far to be really difficult to understand. The sales reps (agents?) you work with don't seem to understand common insurance industry terms, like me asking "is that actual cash value or replacement cost?" when e.g. stating a value for replacing our computers.
I also have open questions on what paying out a claim is actually like, or what it will be like if they have to mount a defence if I were to actually get sued. Since no Corgi customers have been sued yet (as far as I can tell), the answer is "We have no idea".
I'm not trying to be anti-Corgi, but I'm having a hard time understanding how exactly their business model is going to work long term.
3 hours ago
Actually a great idea, wishing you guys success.
3 hours ago
Thanks so much!