Category Visionaries Cole Riccardi, CEO & Founder of Authentic: $16 Million Raised to Build the Future of Captive Insurance
Aug 6, 2024
21:54
Welcome to another episode of Category Visionaries — the show that explores GTM stories from tech's most innovative B2B founders. In today's episode, we're speaking with Cole Riccardi, CEO & Founder of Authentic, an insurance technology company that has raised $16 Million in funding.
Here are the most interesting points from our conversation:
- Authentic’s Captive Insurance Model: Cole introduces Authentic’s unique offering in the insurance market - a captive insurance platform that enables entities like franchisors and vertical software companies to create their own insurance programs.
- Simplifying Captive Insurance: Cole explains captive insurance in simple terms, making the concept accessible and highlighting Authentic’s role in simplifying the process for small business networks.
- The Genesis of Authentic: The inspiration behind Authentic stemmed from Cole’s background in financial services and a personal connection to the insurance industry, spotting a niche for a more efficient insurance offering.
- Early Challenges and Customer Feedback: Discussing the initial phase of building Authentic, Cole talks about the importance of market research, conversations with potential partners, and the positive feedback that helped refine the product.
- Marketing Philosophy and Target Customer: Cole shares Authentic’s strategy of focusing on service excellence to stimulate word-of-mouth within niche markets and discusses the importance of accurately identifying their Ideal Customer Profile (ICP).
- Navigating Regulatory Challenges: Cole touches on the regulatory landscape for captive insurance, detailing Authentic’s strategic approach to navigating these challenges and securing a competitive edge in the insurance technology space.
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