Property Protect at 1 Million Cups Tulsa

 
Airbnb investor insurance claim

What do you do when you are new to a city and have a great idea but you want to reach out to local business leaders? You go to 1 Million Cups, meet interesting folks, and sign up to present!

Our very own Kate Yanov Birtch presented at 1 Million Cups in Tulsa, OK about Property Protect for Global Entrepreneurship Week. Here are the main points from the video found on the 1 Million Cups Tulsa Facebook page.

Lessons Learned:

Kate got her start as an Airbnb investor and she shared her story about “Frank” and his disastrous stay at her beloved vacation home.

She learned that the host guarantee offered did not actually offer insurance. Worse yet, Kate learned that the world of insurance was quite archaic and there were no options to get instant coverage for incidents like these. To get non-standard insurance, most folks need to find a broker or agent and meet with them in person to navigate this world. This requires lots of clunky paperwork and takes weeks to bind coverage.

Kate was inspired to create a digital insurance platform for plug-and-play options in the gig economy. She partnered with us to access a wide array of carriers and leverage existing relationships to develop new programs that respond to our ever changing world. This partnership has allowed for her to leapfrog past all the paperwork and red tape but still be nimble and innovative which really is what InsurTech is all about.

Programs Available:

The goal is to launch new products every 4-6 weeks. including property coverage, a gig-economy program , and healthcare plans

  • Automated Host Insurance: Guest bookings with instant policies connected to specific guest when they arrive. Highlights include:

    • $5 per night premium

    • $5,000 in coverage for damage or theft

    • $500 deductible

    • Benefits:

      • syncs with booking calendar platforms including Airbnb, VRBO, etc.

      • Available nationwide

      • on-demand insurance so you don’t pay when you don’t have guests

      • super simple to sign up

      • quick claims processing

  • Homeowners Policies for the home/dwelling/condo

  • Personal Property Coverage

  • Gig-Economy (ETA Q1 of 2020)

    • Beauty and wellness industry

    • Truckdrivers

  • Mobile Healthcare Plans - Primary care telemedicine

    • Personal assistant app

    • 24/7 nurse hotline

    • mHealth patient portal

    • Discount prescriptions

    • Discount chiropractic and wellness

    • Medical coverage and concierge

    • Discount dental

    • Discount vision

Robust Strategy Highlights:

  • Keep it super simple - Under 3 minutes from start to finish

  • Provide flat-fee subscription model

  • Market direct to consumer (B to C)

  • Partner with businesses (B to B)

  • Leverage affiliations and partner networks

  • Become a platform as a service product

Competition:

There really aren't any competitors in the market offering this in the insurance world.

Team:

  • Kate Birtch, CEO is a startup marketer that has scaled companies from MBP>$70M

  • Martin Burlingame, Co-founder of a now $25M Managing General Agency and Lloyds of London Coverholder

  • Kumar Thangdu, CTO who founded, bootstrapped, scaled, and sold 4 Saas companies

Timeline:

  • April 2018 - Launched Host Insurance

  • January 2019 - Posted Revenue

  • November 2019 - Launched Security Deposit Waivers

  • December 2019 - Launched health plan products

Looking Ahead:

  • February 2020 - Launch gig economy products

  • Q1 of 2020 - 100% Revenue growth

  • Q1 of 2020 - First hire

Main goal: Transform the way we protect what we care about most in a simple, easy-to-use way.

Questions? Email Kate Birtch.

 
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