How would you like to have had 300+ meetings in the past few months?
That’s what Telematic Co-Founder Marti Ryan has gone through after gaining so many contacts from her time in the Global Insurance Accelerator Feb. 9-May 18 in Des Moines, Iowa.
The accelerator program also provided a seed investment of $40,000, one-on-one mentorship and business development training.
She and Thomas Yates’ SaaS platform monitors both car driving and mobile phone usage behaviors that will provide insurance companies with a 360-degree view of their customers. Among the challenges they face, the two learned that the small- and mid-sized auto insurance companies are not ready to adopt their technology, and large ones already have something similar in place.
“It was heartbreaking,” Ryan said. “(Plus) the legacy culture (of insurance companies) became very aware to me.”
The founders’ roles did not change following the accelerator, as Ryan continues to do the front-facing tasks, and Yates continues coding.
In the next six months, Telematic hopes to land a piloted contract from a client. This would allow the company to invest in building an iOS version of its software.
“If we had 12-15 months of runway, I know we have a home-run (with Telematic),” Ryan said. “In fact, I’m very optimistic about our future.”