Show notes
In this episode, James and guest host Peter talk with Tomer Kashi, Co-Founder & CEO of VOOM Insurance and SkyWatch.
To learn more about VOOM Insurance, visit https://www.voominsurance.com/.
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Episode Highlights:
Tomer explains how his company, VOOM Insurance, and InsurTech MGA that creates usage-based insurance products for underserved niche segments within the mobility world. (4:24)
Tomer discusses his education and background in the Israeli army, which led him to become a tech founder in the insurance industry. (7:52)
Tomer shares the founding story of SkyWatch and how it started as a commercial drone insurance solution. (13:03)
Tomer explains how SkyWatch expanded into other niche insurance segments, such as motorcycle insurance, and the advantages of a pay-per-mile basis. (19:50)
Tomer explains how SkyWatch prices its drone insurance policies based on utilization and offers an optional telematics service to provide a risk score. (26:21)
Tomer mentions that drone insurance is currently a product that is pulled by commercial drone operators and their customers, rather than pushed by brokers and that it is not yet necessary for generalist agencies to offer it across the board. (34:05)
Tomer explains that SkyWatch works with aggregators like First Connect for distribution, but also offers direct appointments for those with relevant customers. (41:23)
Tomer shares their teamwork within the company, with a core value of "It's never not my problem." (47:02)
Key Quotes:
“Skywatch started as a commercial drone insurance solution. You see drones everywhere, from wedding photographers, to drone deliveries and in agriculture inspection. Really, everyone like even doing live shows, and we have customers in all of these segments.” - Tomer Kash
“We need to help these newcomers to join the industry,. We also see ourselves as a part of the ecosystem that wants to help this industry to thrive because we're, you know, benefiting from that. So, we work with flight schools, and we work with other organizations to promote flight safety, and also, you know, promote insurance.” - Tomer Kash
“One of the core values of our company is, “It's never not my problem”. Meaning, the R&D really cares about what the sales are doing in a day to day, and vice versa, and marketing and compliance everything. Really, everyone walks together. And this is what really drives everyone to work every day. It goes through different time zones, which is not easy.” - Tomer Kash