Three years ago, I founded an Insurtech association. At the time, it seemed like the right move to foster collaboration and support the industry’s growth. But today, I believe it’s time to evolve, to move beyond the traditional structures of associations that feel too political, bureaucratic, and slow. Instead, I’m convinced we need something more tangible, more effective—something like venture builders.
The Problem with Traditional Associations
Associations, especially in sectors like Insurtech, often end up being driven by politics and industry positioning. They become gremial organizations, where decisions are shaped by agendas rather than the needs of entrepreneurs and carriers. These associations might host events, offer advice, and try to promote innovation, but the reality is that they often move too slowly for the fast-paced needs of the modern insurance world.
Here’s where my thinking shifted: entrepreneurs don’t need just advice or consultancy from so-called experts. What they need are co-creating hands, experienced partners who are in the trenches with them, building, iterating, and solving real problems.
The Rise of Venture Builders: Why We Need Them
Venture builders are a completely different beast from traditional associations or consultancy firms like McKinsey. I see consultancy firms as private gremial associations of consultants. They create long processes, add layers of complexity, and often slow things down. In today’s market, carriers don’t need to spend millions on consultants to solve their problems—they need speed, agility, and real solutions that can be tested and implemented quickly.
Venture builders offer exactly that. They help entrepreneurs:
- Validate hypotheses rapidly: No more endless analysis and discussions. It’s about building fast, testing ideas in real-time, and iterating quickly.
- Eliminate unnecessary intermediaries: Today, the relationship between carriers and entrepreneurs should be direct. There’s no need for middlemen complicating things. When entrepreneurs have the chance to directly connect with carriers, both sides move faster, and the results are better.
- Focus on action, not theory: Venture builders are about getting things done. They’re not here to pontificate or run endless workshops—they’re here to build real products, solve real problems, and push the industry forward.
Why We Need Fewer Think Tanks and More Innovation Factories
If you ask me, we don’t need more think tanks. We need more innovation factories, more venture builders who are hands-on and who understand the challenges entrepreneurs face. As an entrepreneur myself, I know that we don’t need more theoretical frameworks or strategies—we need results.
- 1+1 = 2, not 3 or 4: When you add consultants or extra intermediaries, the process becomes convoluted. It’s simple math: one entrepreneur plus one carrier equals results. Why add another layer when we know the market needs speed and efficiency?
- Veterans helping the next generation: Venture builders bring in seasoned professionals who have been there, done that. They work side by side with young entrepreneurs, sharing their experience and guiding them through the process.
At the end of the day, it’s all about reducing the fat and focusing on what matters—building, testing, and scaling. The insurance industry doesn’t need more talking; it needs more doing.
