Prince Insure

insurtechp2p insurance

FOUNDING YEAR:
LOCATION: Australia
Last Update: 01/05/2020

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About

Prince Insure is an early stage InsurTech start up looking to innovate through a technology platform the affinity/professional lines space world-wide. We are currently developing a professional to professional insurance platform, based on the peer to peer insurance concept. Prince in partnership with professional member associations will provide professional liabilities insurance to professional communities & bring professional communities together. It’s aim is to change the way professionals interact with their professional insurance & build social communities where professionals can engage with their peers/colleagues. This interaction will make them change their behaviour that give rise to claims & improve insurance portfolio performance. Professional Insurance Communities (PIC) will also be able to see in real time how their insurance portfolio is performing from a claims, expense and profit point of view. All profits get paid back to the professional communities. All these functions will be on the digital insurance platform which is in development. Prince is all about protecting, investing & enhancing professional communities

Focus

PRODUCTS & SERVICES

Professional to Professional Insurance Platform Professional Liability Insurance Risk Management Member Benefits Platform

PRIMARY PROBLEM SOLVED

- Purchasing Professional Insurance is a grudge purchase for many Professionals - Many Professionals must have Insurance to work in their chosen Profession - This can be time consuming & difficult dealing with Insurance Companies/Brokers - The net result is high levels of dissatisfaction with the Insurance process

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

People

FOUNDERS

Dino Fedele

David Piacentino

Drew Fisher

BOARD MEMBERS AND ADVISORS

Drew Fisher

NUMBER OF EMPLOYEES

1-10

COMMENT:

My team & advisor have over 50 years experience in the General Insurance Industry. We understand what the customers wants & believe technology will power a customer experience that leaves the client feeling good about their insurance Please see pitch deck on this link https://1drv.ms/p/s!Auop6Lux8stxn3k4bACV1HTnHdF1

Momentum

FUNDED

NO

LISTED

NO

For Investors

FUNDING NEEDED:

$200 K

USES OF FUNDS RAISED:

1. MVP

MONTHS LEFT WITH CURRENT CASH BURN RATE:

6 months from 10 Oct, 2016

COMPETITORS:

Lemonade

Friendsurance

Guevara

Innovation Programs

BASICS

Views:

460 VISITORS | 815 VIEWS

About

Prince Insure is an early stage InsurTech start up looking to innovate through a technology platform the affinity/professional lines space world-wide. We are currently developing a professional to professional insurance platform, based on the peer to peer insurance concept. Prince in partnership with professional member associations will provide professional liabilities insurance to professional communities & bring professional communities together. It’s aim is to change the way professionals interact with their professional insurance & build social communities where professionals can engage with their peers/colleagues. This interaction will make them change their behaviour that give rise to claims & improve insurance portfolio performance. Professional Insurance Communities (PIC) will also be able to see in real time how their insurance portfolio is performing from a claims, expense and profit point of view. All profits get paid back to the professional communities. All these functions will be on the digital insurance platform which is in development. Prince is all about protecting, investing & enhancing professional communities

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

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Momentum+
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Innovation Programs

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Prince Insure

About

Prince Insure is an early stage InsurTech start up looking to innovate through a technology platform the affinity/professional lines space world-wide. We are currently developing a professional to professional insurance platform, based on the peer to peer insurance concept. Prince in partnership with professional member associations will provide professional liabilities insurance to professional communities & bring professional communities together. It’s aim is to change the way professionals interact with their professional insurance & build social communities where professionals can engage with their peers/colleagues. This interaction will make them change their behaviour that give rise to claims & improve insurance portfolio performance. Professional Insurance Communities (PIC) will also be able to see in real time how their insurance portfolio is performing from a claims, expense and profit point of view. All profits get paid back to the professional communities. All these functions will be on the digital insurance platform which is in development. Prince is all about protecting, investing & enhancing professional communities

Focus

PRODUCTS & SERVICES

Professional to Professional Insurance Platform Professional Liability Insurance Risk Management Member Benefits Platform

TOP PROBLEM SOLVED

- Purchasing Professional Insurance is a grudge purchase for many Professionals - Many Professionals must have Insurance to work in their chosen Profession - This can be time consuming & difficult dealing with Insurance Companies/Brokers - The net result is high levels of dissatisfaction with the Insurance process

PRODUCT DEVELOPMENT STAGE

PROTOTYPE

PRODUCT DEVELOPMENT COMMENT

Currently working on MVP with Appster This will facilitated by a rapid concept workshop in October 2016

KEY DIFFERENTIATORS

First Professional to Professional Insurance Platform on the market Ease of Use – Simple full life cycle process Low Cost Model – All Insurance Processes are governed on the app Profit Share – All profits are paid back to PIC Members (Share Economy) Transparency – All members can view performance of their PIC in real time (Claims, Expenses & Profit) Pro Group Pressure – Members will change attitudes towards claiming & minimise moral hazard Engagement – All members are actively engaged in all parts of the Insurance process Membership Platform - Providing products & services to benefit members

PRIMARY CUSTOMER TYPE

Enterprise - Retailers

Enterprise - Others

Small and Medium Business - Online Retail

Small And Medium Business - Other

People

FOUNDERS

Dino Fedele

David Piacentino

Drew Fisher

NUMBER OF EMPLOYEES

1-10

KEY EMPLOYEES:

CEO, FOUNDER: Dino Fedele

CTO, FOUNDER: David Piacentino

FOUNDER: Drew Fisher

TEAM COMMENT:

My team & advisor have over 50 years experience in the General Insurance Industry. We understand what the customers wants & believe technology will power a customer experience that leaves the client feeling good about their insurance Please see pitch deck on this link https://1drv.ms/p/s!Auop6Lux8stxn3k4bACV1HTnHdF1

BOARD MEMBERS AND ADVISORS:

Drew Fisher

Momentum

FUNDED

NO

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES