Fintech Leaders Alexis Pantazis, Co-Founder of Hellas Direct – A Contrarian Play That Led to $150M Annual Revenue, Mastering Product & Market Launches, The Future of Insurance
Aug 8, 2023
In this engaging discussion, Alexis Pantazis, Co-founder of Hellas Direct, shares his journey in transforming the insurance landscape in Greece, Cyprus, and Romania. He reveals strategies for successfully launching products in challenging markets and the importance of navigating through economic turbulence. Alexis also discusses their approach to tackling fraud with innovative data usage and highlights the critical role of technology in modernizing insurance. Additionally, he emphasizes the need to mentor future entrepreneurs and his commitment to community engagement.
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Hellas Direct's Contrarian Beginning
- Alexis Pantazis and Emilio started Hellas Direct in 2011 as a contrarian play during the Greek financial crisis.
- They focused on building their own technology and starting with motor insurance, which comprised 80% of the market.
Distribution Agnosticism
- Don't be dogmatic about distribution channels; adapt to the market.
- Hellas Direct initially focused on direct-to-consumer but later embraced aggregators and brokers.
Underwriting in Volatile Markets
- In volatile markets, strong underwriting is crucial for survival.
- Hellas Direct prioritized underwriting and achieved a loss ratio in the 50s and 60s.