Photo - YellowMay
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YellowMay

The global AI-marketplace for insurances

Finland
Market: Insurance, Artificial Intelligence
Stage of the project: Prototype or product is ready

Date of last change: 21.09.2020
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Idea

Only global, independent and transparent online AI- marketplace for insurances evaluating products based on terms&conditions using Ymay-algorith

Current Status

Results
• Over 2500 insurance products from more
than 100 insurances out of 43 countries
listed in database (travel-, mobile-gadget
and identity-theft insurance)
• increase of 62% of users in July
• 9,5% Conversion rate
• CAC 0,29€
• 1.8 Million people reached since Okt.´19
• Platform delivers up to 70% profit margin
for it´s products.

Market

B2B (Insurance companies that seek their place to be able to keep interested products in the pressure of global tech giants moving to insurance space).

The market size (amount of used for sales and marketing on insurances) 1 trillion $. Global view of the insurances with comparison created by interpreting terms&conditions on behalf of the potential insurance buyers.


Problem or Opportunity

Problem
• Insurances are boring and products are complex
• Consumers cannot find suitable insurance products
• Global market access for insurances is costly and
complicated
• Brokers and aggregators are dead and new
approach is needed

Solution (product or service)

Solution
• Global window shopping of insurances for endusers
with a fun, easy and transparent approach
• Delivering a unique global marketing and sales
channel for insurance companies

Competitors

Aggregators pushing buying to users:
Wefox (Germany and some countries in Europe),
Moneysupermarket (UK)

Marketing on using Google.

Advantages or differentiators

We have enabled the window shopping to users with one question process to see the insurance option being evaluated them with terms&conditions that gives the value for the end user.

We aim to have all insurances on our platfrom to have them indexed from the online world to buyers.

Finance

Year Revenue EBITDA
2019 47.148 € - 157.413 €
2020* 134.378 € - 93.222 €
2021* 957.470 € 323.150 €
2022* 1.521.861 € 491.061 €
2023* 18.674.667 € 13.970.667 €

Marketing packages for insurance companies. Future streams beside the platform are analysis of products space, consulting to build digital approach to insurance companies and teaching insurances to users.

Business model

Subscription model.

Channels are mobile driven app and marketing on Facebook.

Money will be spent on

Development of the product offering, enabling the latter stages of holistic view of insurances, marketing efforts to inrease the brand awareness.

Offer for investor

Asking up to a 1.200k € , with a minimum of 600k € with the intention
to use 20% max of share capital for the investment.

Team or Management

Risks

That we can increase the traction of our platfrom with the speed we have been able to deliver an increasingly pace. To have the balance between users and customers to fulfill the requirements.

Incubation/Acceleration programs accomplishment

-

Won the competition and other awards

Thought Leadership
• FIBAN 2018 (Speaker)
• Insurtech Insights Asia 2019 (Speaker)
• Bitcom2020 (Speaker)
• DIICA 2020 (Speaker and Panel member)
• DIA 2020 (Speaker)
• Fintech Virtual Trade Mission (Speaker)
• GTAI 10 start-up nomination

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video