goBundl is ready to shake up the established insurance industry with their groundbreaking idea
What if you could save money on your insurance by sharing all costs with trusted family, friends and colleagues? Meet the team behind the startup goBundl who will make it easier and cheaper for you to have an insurance.
The team behind goBundl have worked tirelessly on their groundbreaking idea that will shake up the insurance industry and re-think normal procedures. Their platform is now LIVE and they are ready to conquer the world!
We’ve asked them to share a few words about the concept behind goBundl, why they think that they can add something new to a very established and at times conservative industry and what is going to happen on the road ahead.
Who is goBundl?
goBundl is the future Peer-to-Peer insurance platform with which we intend to fight moral hazard with the aid of modern solidarity.
We have created an online platform where people can bundle together to create their own insurance groups composed of family, friends or sports clubs – people who know and care about each other. If the group performs better than what might normally be expected, they will see the return of some of their money at the end of the year.
When goBundl won the FinTech track in our Venture Cup Challenge back in January, you won free office space at CPH FinTech Lab which gave you the opportunity to sit among like-minded fintech-focused startups, be surrounded by experts within the field and really boost your idea. What does this mean to an early-stage startup?
Winning the Venture Cup Challenge has proven that our idea has both potential and credibility. It’s a quality stamp that we can refer to whenever talking to investors, insurance partners or other interesting stakeholders. In the beginning, it gave us a lot of attention and spirit, and we have used the title to brand goBundl.
Working from CPH FinTech Lab gives us access to an impressive network. There are so many interesting startups here that work in the same areas as we do, all of them being at different development stages. Some are more mature than us, thus they can guide us and give us advice about what they have experienced. Others are brand new and have some early stage and very interesting ideas. We all face the same challenge, thus, doing FinTech or InsurTech: We have to convince large companies about our new idea and prove that it’s interesting!
Just start. Test your idea and, while waiting for answers from investors, partners and stakeholders, build your platform. You learn so much in the process.
goBundl and Simon Schou from CPH FinTech at the stage at the Venture Cup Challenge 2017
Is the Danish ecosystem Fintech-friendly? Are there challenges as a insurtech startup in Copenhagen?
We haven’t really been in the ecosystem long enough to really answer this. What we have experienced is that everyone has a huge interest in what we are doing, mainly because it’s really new and innovative. We have been lucky to get a lot of advice and help from connections of ourselves and through the Lab.
According to Simon Schou from Copenhagen FinTech:
“FinTech in Denmark is booming at the moment – and investments in Danish fintech has more the 8-doublet in two years – making it the fastest growing startup sector both in Denmark and the rest of the Nordic Countries.”
What does the future hold for you?
We have been working really hard on several things: First of all, to create a platform that can actually do some pretty cool insurance stuff. And secondly, to convince the insurance companies to work with us. Luckily, a lot has happened and we are ready to prove that our concept has a place in the Danish insurance scene.
Next step is to onboard customers, find interesting partnerships and get more funding. We are going to raise 3-5 MDKK, which will give us the ability to expand and scale our solution… And of course build some cool, customer-centric solutions.
Read more here www.gobundl.dk.