InsureVite

A full stack hybrid neo-insurer advancing inclusive insurance

Beta product launched Jan to Sep
33% month over month growth
735 users onboarded
30% retention rate

Insurance carriers that offers personal lines in the following:
a) Property & Casualty lines
b) Health/Hospitalization
c) Auto
d) Term life

In Indonesia, 120m rural people have little access to insurance. They are priced out, traditional agency and digital direct models do not reach them, leading to a gap in insurance coverage

A full stack insurer underwriting suitable products, with the ability to nimbly adapt to market shifts, as well as a hybrid distribution model, utilizing offline to online or fully online approach.

Reply.ai
InsureMi.com
Pypestream.com
Pand.ai
Hi Marley
Intercom.com

Transactional AI embedded within Conversational AI
Processes are automated on messaging apps via cloud
Flexibility in deployment (Webbot, App bot, etc.)

8 months runway left
6500 burn rate
10k revenue collected

Monthly fee

Quadrupling annual revenue in target markets (US, Japan)
Business Development
Technology advancement
Operational expenses

Option 1:
US$1m SAFE note
20% discount, no valuation cap

Option 2:
US$1m at 20% equity

1) Generalist startups crowding insurtech markets
2) Insurers developing internally
3) Poor user experience causing lack of utilization
4) Messaging apps disallowing APIs
5) Section of employees resisting new innovation

Global Insurance Accelerator (Des Moines Iowa) 2020
Startupbootcamp Melbourne (Melbourne, Australia) 2019
Plug and Play Japan (Tokyo, Japan) 2019
Fintech Hive Accelerator (Dubai, UAE) 2018

Invention (No patent):
1) OCR
2) Process automation bot within conversational AI