Candidature YC de Goodcover

Summer 2017Active

Goodcover a été sélectionné par Y Combinator dans le cadre du batch Summer 2017 en tant qu'entreprise Fintech. Ci-dessous : ce que fait l'entreprise, qui l'a fondée, et sa candidature à YC, reconstruite question par question dans le vrai formulaire YC.

Batch YC: Summer 2017
Secteur d'activité: FintechInsurance
Taille de l'équipe: 1
Statut: Active
Lancé: 2019

Fondateurs

Christopher LotzFounder/CEO
Daniel Di SpaltroFounder

Ce que fait Goodcover

Goodcover provides its Members with Good Renters Insurance for 50% less than legacy companies and an Annual Dividend of the money left over after claims obligations are met. Goodcover is a Managing General Agent (MGA) that administers personal insurance on behalf of our Membership, a bit like how USAA does it. Member's premiums are pooled and used to pay claims. We take a fixed fee, and the remainder is returned in our Annual Member Dividend. We work with multi-billion dollar capital partners to ensure regulations are followed, adequate claims capital is always available, and we have emergency capacity for catastrophes. Technology allows us to eliminate waste, saving roughly 25% of the cost. We are 100% digital, but not bots - we invest in tech that enables our experts to help Members. As an Invitation Only Membership served by an MGA, **we can give Members Free Insurance** when they invite others, turning our "Marketing Budget" into savings for Members. This eliminates Lizards and Sales Agents, saving the other 25%. We do not use the standard industry models, instead using a multiperil model to more granularly price risk. This means that for a few of you we are more expensive... but everyone else pays much less than they would otherwise pay. Our granular, multiperil model allows us to offer a superior policy over the standard market including: - coverage for if your place is flooded by a neighbor - Replacement Cost Coverage (meaning new stuff for your old) - All Risk coverage for high value items you tell us about - including computers (almost no one does that amazingly) - added coverage for mold removal Our MGA business model allows us to be capital efficient, "renting" capacity as we need it. All this adds up to our government approved pricing being 40-60% cheaper on average than that of our competitors.

Candidature YC de Goodcover, reconstruite

Candidature Y Combinator

Goodcover, promotion Summer 2017. Les vraies questions de candidature, répondues à partir de données publiques.

Founders2
Company7
Progress7
Idea4
Equity3
Curious2
Batch Preference1

Company

Company name

Goodcover

Describe what your company does in 50 characters or less.

Digital co-op renters insurance half the price.

What is your company going to make? Please describe your product and what it does or will do.

We make Good Renters Insurance, an invitation-only membership that pools premiums, pays claims, returns leftover funds as dividends, and offers better coverage at about half the price of legacy insurers. We run as a Managing General Agent using technology for granular multiperil risk pricing and to eliminate sales agents, turning marketing into member savings.

Where do you live now, and where would the company be based after YC?

We live in San Francisco, CA, and the company is based there after YC.

Explain your decision regarding location.

San Francisco is the insurance tech hub where our capital partners and regulatory networks are. We want to stay close to partners and talent.

21 réponses supplémentaires dans la candidature complète

se trouvent dans la version complète. Créez un compte gratuit pour l'ouvrir dans YC Insights, à côté de tous les autres batches YC.

Voir la candidature complète

Questions fréquemment posées

Est-ce la vraie candidature YC de Goodcover ?

Non. Y Combinator garde les candidatures soumises privées. Ceci est une reconstruction : les vraies questions du formulaire YC, répondues à partir des données publiques de Goodcover (notes de lancement, parcours des fondateurs, description du produit). Cela montre comment une entreprise comme Goodcover se présenterait à YC, pas le texte qu'ils ont soumis.

À quel batch YC Goodcover appartenait-il ?

Goodcover faisait partie du batch Summer 2017 de Y Combinator.

Qui a fondé Goodcover ?

Goodcover a été fondé par Christopher Lotz, Daniel Di Spaltro.

Que fait Goodcover ?

Digital Co-op Renters Insurance = half the price, better coverage.

Comment lire la candidature complète reconstruite ?

Créez un compte Round Funded gratuit. La version complète de la candidature de Goodcover en 26 réponses, et de chaque autre promotion YC, se trouve dans YC Insights.