Anina Lutz, co-founder of Calingo Insurance AG, discusses digitizing insurance, offering personalized coverage at competitive rates. They avoid health insurance due to saturation and aim for vet video calls. They partner with SwissRe and utilize convertible loans for funding, focusing on user-friendly digital solutions and fair pricing.
Digitizing insurance with easy digital solutions and personalized coverage for home and pets.
Strategic funding decisions using convertible loans and equity rounds for sustained growth and expansion.
Deep dives
Vision for Modernizing and Revolutionizing the Insurance Market
Identifying the huge potential in modernizing and revolutionizing the insurance market by introducing easy digital solutions, new products, and customer-centric approaches. Propelling towards a customer-oriented revolution in the insurance sector by emphasizing the need for innovative and modern products to meet evolving customer expectations.
Transition from Corporate Stability to Entrepreneurial Growth
Smooth transition from a stable corporate job at HelvyAsia to entrepreneurship with Colingo, driven by the desire to build something innovative and the opportunity that arose with likeminded co-founders. Embracing the challenges of entrepreneurship and departing from the safety of a stable career to pursue innovative ventures.
Balancing Risk and Reward in Entrepreneurial Ventures
Navigating the delicate balance between risk and stability in entrepreneurship, exemplified by the decision to venture into the stormy waters of entrepreneurship with Colingo after a successful corporate stint. Evaluating the trade-offs between corporate stability and entrepreneurial potential to drive growth and innovation.
Strategic Funding and Growth Plans for Sustained Business Success
Strategic funding decisions with convertible loans and equity rounds aligning with business growth stages, alongside plans for Series A funding and expansion into international markets like Germany. Focusing on customer-centric initiatives, service expansions, and sustained growth to establish a profitable and sustainable business model for Colingo.
8:47 - The potential of digital insurance solutions
19:50 - The health insurance market
29:24 - Collaborating with other insurance companies
32:57 - Convertible loan over equity rounds
Check out the LinkedIn event for our livestream with Aurelio Perucca on May 22nd: https://www.linkedin.com/events/makingmoneyfromalternativeinves7191374767680057345/theater/
About Anina Lutz:
Anina Lutz is the co-founder and CEO of Calingo Insurance AG, a digital insurance company. She holds a MSc in Business & Economics from the University of Basel and previously worked at Helvetia before starting Calingo in 2020.
As a digital insurance company, Calingo offers personalized insurance coverage at the point of sale in a hassle-free and digital way, for your home, your pets or your business. Their home insurance offer is 25% cheaper than market average, since they do not charge high commissions and have easy, low cost operations. Their pet insurance comes at a higher price at first, but since the premiums remain constant regardless of the pet’s age, the lifetime value ends up cheaper than other pet insurances.
They’ve partnered up with insurance companies like SwissRe to have them as risk carriers. Thus far they’ve decided not to delve into health insurance, since it is a rather saturated market. Instead they plan to use next year's series A funds (provided that the round closes successfully) to set up a system of vet video calls and bring their services to Germany.