Version 1.0 of New Web App for Insurance Agents Spikes Investor Interest
Industry disruptors can come out of anywhere, but not out of anyone. Fortunately, Jake was exactly the type of guy that knew he could shake up the property insurance industry with his new idea: PropertyMaster. PropertyMaster is a new tool that allows property insurance agents that specialize in specific types…
Names have been changed, IPs have been protected, industries have been swapped, but the story is real
Industry disruptors can come out of anywhere, but not out of anyone. Fortunately, Jake was exactly the type of guy that knew he could shake up the property insurance industry with his new idea: PropertyWizard.
PropertyWizard is a new tool that allows property insurance agents that specialize in specific types of coverage to connect with clients and bid on jobs. If an agent is experienced with farm insurance, or large estate policies, or corporate-owned building chains for example, they’re able to search for requests that meet that criteria and connect with clients. PropertyWizard, of course, collects a small convenience fee from the agent every time they book a new client.
When Jake brought his idea to his first round of investors, interest was tepid. He was a man with a dream, and people were hesitant about putting money in his corner unless they could see some serious potential in a new web app.
You might see where this is going.
After some in-depth research and needs-based workshops, Worthwhile helped Jake’s team lay the roadmap for how the app development would work. Which users needed to be considered? How would agents be vetted in order to ensure that they actually had the experience they claimed? What sort of security features would be implemented to protect the information of the clients?
After a short time, an MVP that would allow clients to connect with agents was created; Clients would become attached to agents with the most experience and helpful advice, and agents would see a spike in business within a very short period. With PropertyWizard collecting a small user fee from the agents, it was a classic win-win-win scenario.
To say that investor interest spiked would be like saying that sliced bread became sort of popular.
Before the MVP, Jake had taken his idea to the biggest property insurance agency in the US. They told him that they weren’t interested because it was unfortunately too early in the process. After the MVP, they were chasing him down.
Jake and the PropertyWizard team are currently focused on Version 2.0 with Worthwhile, and the investor interest continues to grow. The man with the idea is riding the wave of early success with no predicted end to the swell.
Where does your business want to go next?