Co-Found with Founders Factory Italy - B2C Insurtech
Milan
Founders Factory Milan – Studio /
Full-time /
Hybrid
Founders Factory builds and funds startups together with exceptional entrepreneurs and the world’s leading companies. Created by IPO-exited founders, we offer founders capital, operational support from a team of hands-on experts, and unrivalled access to a coalition of industry-leading corporate partners. Since 2015, our 300+ portfolio companies have raised $900mm follow-on funding from a roster of notable investors.
Our Studio partners with entrepreneurs at day one, developing new ideas, technologies and business models into high growth companies. We’re now exploring concepts at the intersection of insurance and technology.
We’re looking for an experienced operator with entrepreneurial ambitions to lead a new venture as Founder & CEO with our investment and the full backing of Founders Factory.
Neoinsurance startup in Italy
The Italian insurance market is unlike others in Western Europe:
- Marked by slow growth with significant untapped potential, hindered by bureaucracy and a rigid labour market.
- Incumbent insurers project single-digit growth, contributing to limited product innovation.
- Dominated by brokers and agents, the market sees particularly low penetration in property and casualty (P&C) insurance compared to the rest of Europe, partly due to reliance on family for asset security and traditionally high motor insurance costs.
- Traditionally, motor premiums have dominated share of wallet but have fallen lately, presenting opportunities for increased share of wallet in other insurance lines
But things are about to change. Insurance is expected to be the 2nd most impacted industry by GenAI, revolutionising the customer experience and underlying ops model by:
- Innovating on the actuarial model with new sources of data
- Making the majority of claims parametric through automation
- Lowering the cost of world-class customer service
We're currently exploring the following concepts:
Mobile-first, adaptive LLM-powered home and contents insurance subscription
- Bringing contents insurance to the burgeoning number of young, urban italian renters
- Using modern integrations to understand customers needs, update their coverage, and use smart home devices as a deterrent to thieves
All-in-one subscription service simplifying insurance and utility bills
- Become a trusted financial partner analysing market pricing to suggest deals and intelligently roll customers into white-label services as their existing contracts end
Our offer
- Co-found a company with Founders Factory’s team of IPO-exited founders and entrepreneurs to develop a new venture at the intersection of insurance and technology
- Access to an expert team through our Venture Studio and 6-month accelerator programme
- Unlock €700k investment and hands-on support from our experienced team
- A validated concept and intellectual property
- A dedicated studio budget (including the founder stipend, specialist resource and infrastructure budget)
What we're looking for
- Experienced founder, builder or operator, capable of operating from zero to one
- Unique market insight, top 1% skills or other advantage that makes you a suitable and compelling Insurtech founder
- Proven ability to build a world-class team, attract customers and investors
- Evidence of thriving in ambiguous environments and a high aptitude for calculated risks
- A clear vision for the opportunity (including product direction) - with the drive and expertise to execute on it
- High IQ and EQ - strong opinions loosely held
Note - We are reviewing applications on an ongoing basis. If your background and application meets our criteria, we will be in touch to schedule a call.
