“We’ve been working on the concept for the last 6 months, and the business model has been recently validated by a legal firm specializing in insurance. We founded the company in April 2016 with the purpose to make insurance more affordable, social and transparent”. Yuri Poletto, founder of DarWinsurance, told us the story of his company, which will be part of the startup exhibition at FinTechStage Milan on 5th May.
What’s the difference between DarWinsurance and other competitors?
As far as we are concerned we are the only peer-to-peer startup in Italy at the moment, and we are really looking forward to welcome other InsurTech startups like DarWinsurance in the next months in Italy. In Europe there are other peer-to-peer insurers and they are becoming very popular and successful.
As Italy is one the most “social” countries in the world, we believe that the peer-to-peer model is a perfect fit for the Italian market.
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Why did you quit your job in a consultancy company to found DarWinsurance? What do you like of the startup life?
DarWinsurance have three cofounders. The three of us have different professional paths, and it is nice that at certain point our professional careers merged to create DarWinsurance. We are really enjoying our new role of startuppers, and our consultancy and entrepreneurial experiences give us the mindset and the flexibility to work on such an engaging project.
We are 100% committed to make of DarWinsurance a credible and strong player in the insurance industry in Italy.
Who believed in your company? Tell me more about investments and about the team.
All feedback we received from people we involved in the project are absolutely encouraging. We decided to finance the first phase of the project by ourselves, and in the coming weeks we will start approaching the investors community with the aim to raise the funds we need to implement the project.
The team is composed by Kumar, our Chief Technology Officer, he has a solid background in computer science and a proven experience as a programmer and project manager. Tommaso is our Chief Operating Officer and Chief Financial Officer, he is a successful insurance broker and has a solid knowledge of all aspects related to the core insurance business and processes. I’m the Chief Executive Officer, I have 15 years experience in insurance, of which 10 in multinational insurance groups and the last 5 as a consultant, and my main area of expertise is sales and marketing. We are a perfect mix of experiences, cultures and personalities, but at the same time we all are very pragmatic, focused and committed to our mission.
What do you expect from FinTechStage?
We decided to present DarWinsurance at FinTechStage Milan because we believe we have a compelling and scalable business model and a qualified team, which is ready to be presented to such a vast community. Our expectations for the event are to start creating interest around DarWinsurance and to establish connections with the investors, insurers and Media communities.
What’s the difference between the Italian fintech ecosystem and the ones abroad?
We think there are not significant differences. Italy is one of the biggest economies in the world, with one of the highest number of SMEs and an established tradition of entrepreneurship and innovation. Italian fintech has definitely a big potential and we are very positive that in the coming months and years Italian fintech start-ups will be able to capture the attention of International VCs and to bring more investments into the Italian market.
Next steps for DarWinsurance?
Make insurance more affordable, friendly and popular, particularly among the young generations, and educate customers on the social role played by insurance.