SaaS Interviews with CEOs, Startups, Founders EP 596: ClaimCompass Has Helped 1000 Airline Passengers Get $420 Each Back From Airlines for Cancelled Tickets and Lost Items with CEO Tatyana Mitkova
Mar 12, 2017
16:10
Tatyana Mitkova. She's the CEO and founder of ClaimCompass, a company that helps airline passengers submit a claim online for cancelled, delayed or overbooked flights.
Famous Five:
- Favorite Book? – How to Win Friends and Influence People
- What CEO do you follow? – Kathryn Minshew
- Favorite online tool? — Slack
- Do you get 8 hours of sleep?— No
- If you could let your 20-year old self, know one thing, what would it be? – "Her life is to become more and more interesting with every decision she makes that takes her out of her comfort zone"
Time Stamped Show Notes:
- 01:26 – Nathan introduces Tatyana to the show
- 01:42 – ClaimCompass get airlines to pay up to $680 for cancelled flights
- 01:51 – Flights could be delayed, cancelled or overbooked
- 02:05 – ClaimCompass can help you get paid for your lost baggage
- 02:13 – ClaimCompass is based on the regulations in Europe
- 02:29 – More than 90% of airline passengers are unaware of their rights
- 02:46 – ClaimCompass tries to speed up the claiming process for passengers
- 02:49 – ClaimCompass has a web app and passengers can submit a claim online
- 03:03 – ClaimCompass makes money by keeping a 25% success-based commission
- 03:25 – ClaimCompass is growing 75% month over month, in the last 3 months
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- 03:39 – In January, ClaimCompass will reach a thousand claims
- 03:43 – Average claim refund is $420
- 03:58 – Average MRR
- 04:11 – ClaimCompass has their own internal software for their claims management system
- 04:36 – ClaimCompass has established relationships with more than 50 airlines
- 04:55 – Team size
- 05:24 – ClaimCompass was launched, in 2016, as a side project
- 05:48 – Tatyana and the co-founders have their own stories about getting frustrated with an airline
- 06:04 – Tatyana has a legal background
- 06:24 – ClaimCompass was bootstrapped and got into the 500 Startups program, in Europe, 2 months ago
- 06:40 – ClaimCompass has raised $150K
- 07:02 – Plans for 2017
- 07:10 – "Our goal is to reach as many passengers as possible"
- 07:50 – CAC
- 08:20 – ClaimCompass' paid ads expenses are increasing
- 08:53 – ClaimCompass had their demo day on the 15th of February at the 500 Startups program
- 09:00 – Tatyana believes they will have their seed round in 6 months
- 09:51 – Tatyana is looking to raise a million in their next round
- 10:12 – One of ClaimCompass' biggest competitors is AirHelp
- 11:00 – Tatyana believes that if they partnered with online travel agencies, they can reach more people
- 11:18 – Flight Right and Refund.me are some of ClaimCompass' competitors, too
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- 11:31 – Some of ClaimCompass competitors' business models can make you lose money
- 13:00 – The Famous Five
3 Key Points:
- More than 90% of airline passengers are unaware of their rights – we should know our rights to make an appropriate claim.
- Not all business models are the same – study the company first, to be aware of the charges.
- Every step out of your comfort zone, leads to something far more interesting for you.
Resources Mentioned:
- Acuity Scheduling – Nathan uses Acuity to schedule his podcast interviews and appointments
- Drip – Nathan uses Drip's email automation platform and visual campaign builder to build his sales funnel
- Toptal – Nathan found his development team using Toptal for his new business Send Later. He was able to keep 100% equity and didn't have to hire a co-founder due to the quality of Toptal
- Host Gator – The site Nathan uses to buy his domain names and hosting for the cheapest price possible.
- Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5-hour drive) to listen to audio books.
- The Top Inbox – The site Nathan uses to schedule emails to be sent later, set reminders in inbox, track opens, and follow-up with email sequences
- Jamf – Jamf helped Nathan keep his Macbook Air 11" secure even when he left it in the airplane's back seat pocket
- Freshbooks – Nathan doesn't waste time so he uses Freshbooks to send out invoices and collect his money. Get your free month NOW
- Show Notes provided by Mallard Creatives