The expert panel, which includes executives from top insurers as well as market-leading investment companies, will be exploring the challenges of the current investment market for insurtechs, and looking at ways companies can improve their odds of success through game-changing strategies.
Titled, ‘And For That Reason, I’m In: How To Win Over Investors In Your Pitch’, will see Gilad Shai, Managing Director, BMI Capital International, Dan Reed, Managing Director, American Family Ventures, Andy Lerner, Managing Partner, IA Capital Group and Alex Scherbakovsky, General Partner, AXA Venture Partners converge on the central stage at theNew York-based conference in June 2023.
Investment – and the challenges surrounding it for startups and even established incumbents, has been particularly challenging since the end of Q3 2022, when political issues raised by the war in Ukraine, and economic hardships caused by the COVID-19 pandemic, rose to the surface. The insurance industry is not the only space to have been hit by lower investment interest, as across the board, investors tighten their belts in anticipation of further disruptions.
Indeed, according to several data sources, including reports by Gallagher Re, It is estimated that from some of the largest and most established tech firms, approximately 120,000 layoffs across close to 800 companies has been recorded in the second half of 2022.
ITI USA expert panel participants on the challenges of investment: ‘And For That Reason, I’m In: How To Win Over Investors In Your Pitch’
– Gilad Shai, Managing Director, BMI Capital International
– Dan Reed, Managing Director, American Family Ventures
– Andy Lerner, Managing Partner, IA Capital Group
– Alex Scherbakovsky, General Partner, AXA Venture Partners
THREE ways to boost investor interest in your insurtech startup
While having a brilliant, market-gap plugging offering will be an attractive prospect to potential investors, there are a few other ways startup entrepreneurs can maximise their investment and fundraising chances – even in a difficult marketplace.
Have a deep understanding of the economic landscape
To gain the confidence of financial investors, companies must have a financial plan that demonstrates an understanding of the economic climate and prioritizes cash preservation. Companies should also have robust systems in place to track and report financial and business performance data, particularly in challenging times.
Establish a track record of success
It is essential to set clear and achievable milestones for all aspects of the business, not just sales targets. Meeting these milestones will inspire investor confidence, while missing them could signal a red flag. Companies should be realistic about timelines, as underestimating the time it takes to implement technology, for example, could undermine investor confidence.
Foster transparency and trust
To build trust with investors, companies must be proactive and transparent in communication. Regularly scheduled board meetings with materials submitted ahead of time are crucial, and the board should be notified of any urgent matters. Above all, investors should never be surprised by negative news, as this could signal incompetence on the company’s part.
Ultimately, successful fundraising requires a strong leadership team that can balance the demands of product, operations, and people while remaining focused on execution. Though raising capital may seem easier for some companies than others, building strong fundamentals and discipline now will pay off in the long run, especially as interest rates eventually stabilise and money returns to high-growth companies.
For more information on Insurtech Insights USA 2023, June 7th-8th, at the Javits Center, New York, visit here
