InsurTech FAQ

Professional discussion between an actuary and start-up.
Example discussion topics: strategy validation, position refinement, market validation.

Please articulate what expertise you are interested in leveraging.
- Line of business expertise: Life insurance, P&C, Health, Retirement, Reinsurance, etc.
- Specific expertise: insight on regulations, distribution channels, claim management for a given market, etc.
Please articulate what areas you would like to collect feedback.
- e.g., validation of the pain point identified, and suggested solution

While either could lead, it makes sense for the start-up to lead the discussion, present the necessary background (company and/or product) and the question it wants feedback on.
While the company and product should be presented, please note that the advisor is not a potential buyer but will provide feedback on the positioning of the product (e.g., refining the sales pitch), on identifying decision-makers and influencers, on the business model, on possible sources of revenue or go to market strategy.

Consider yourself as an actuary, not only knowledgeable of actuarial processes but also knowledgeable of the inner working of the insurance industry with expertise in insurance.
Find a way to support the initiative, acknowledge if this is outside of your expertise (but don’t undersell your general knowledge of the insurance industry), provide constructive feedback.

You are not expected to commit to anything after the first meeting. However, you are allowed (and in fact, encouraged) to explore further engagements as long as there's mutual interest in doing so, in a respectful and professional manner. These are examples of possible outcomes: Startup gains informal/formal mentorship/advisor involvement from the actuary; actuary gains an opportunity to consult with the startup, helping each other make valuable connections with potential business partners, etc.
Start-ups can request an exchange with another advisor, based on availability.