My second startup failed because we thought distribution was the solution to low insurance penetration in Africa, @Pay_UTech is well on it's way to $1million premium bootstrapped
How do you embed an existing offering whose price point is out of reach of those it's intended for!
I am seeing a new generation of insurtech entrants and mid-level managers that think distribution is insurance's problem in Nigeria/Africa.
I want to tell them that Gtbank won the retail market because of product innovation before the likes of Zenithbank and others...
Gtbank in the early 20s had the least number of branches (distribution channel) but had the highest number of accounts opened because zero naira was required to open an account while the likes of Zenithbank maintained a 100k account opening.
Gtbank in the early 20s had the least number of branches (distribution channel) but had the highest number of accounts opened because zero naira was required to open an account while the likes of Zenithbank maintained a 100k account opening.
I am seeing a new generation of insurtech entrants and mid-level managers that think distribution is insurance's problem in Nigeria/Africa.
I want to tell them that Gtbank won the retail market because of product innovation before the likes of Zenithbank and others...
90% of startups is just ignoring haters and doubters trying to slow you down, proceeding to prove them wrong, then having them move the goalpost to a new level of hate and doubt. Then, once growth decelerates and you’re no longer doing important work, everyone is your friend
90% of startups is just ignoring haters and doubters trying to slow you down, proceeding to prove them wrong, then having them move the goalpost to a new level of hate and doubt. Then, once growth decelerates and you’re no longer doing important work, everyone is your friend
SMS,voice call and Internet data bundle are unlimited with as low as $20 monthly phone bill hence there isn't a use case that's strong for Americans to use WhatsApp.
@Ssaasquatch Olumide & Kola decided they will invest which they did but wasn't the amount i asked for
I later found out that liquidity event was why they didn't go all-in
That feedback is the reason why we are now live in Botswana,registered & preping to launch in the U.S &Canada as an MGA
@Ssaasquatch Olumide was at the pitch in-person while Kola joined virtually amongst others.
The fire worked,i guess because i was prepared.
Olumide downloaded Pay-U app and on first screen told me 'I love this UI'...I felt love from a man i have watched from afar.