[HN Gopher] Launch HN: Tint (YC W21) - Embed insurance into any ...
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Launch HN: Tint (YC W21) - Embed insurance into any product
Hi HN! We're Matheus & Jerome and we're the co-founders of
Tint(http://www.tint.ai). We help companies add insurance to their
products. Many companies, such as marketplaces, merchants, and
travel agents could include insurance as part of their products and
services to make them more valuable to their customers. For
example, insurance will be included when you rent a campervan for a
weekend trip at Outdoorsy, to protect you if anything goes wrong.
Our platform provides everything that is needed: software, access
to insurers, compliance--everything required to manage risk and
protect users, profitably. We met in 2014 when we were early
employees at Turo, the car-sharing startup. While there, we saw the
potential that insurance products have and also saw how hard it was
to fully capitalize on it. Turo has an obvious and pressing need
for insurance, but to fill it, they had to build their own systems,
find insurers to back the program, and ensure compliance with state
laws. None of this was their core business. We got inspired by the
problem and by the opportunity to solve it, so we decided to create
Tint. Here is a real example from Riders Share, one of our
clients: you go to their website/app to rent a motorbike for the
weekend and find an awesome Harley Davidson. You proceed to
checkout, see a few protection/insurance options, select one, and
book the trip. You won't notice, but Riders Share's app has used
Tint to risk-score the transaction, decide if it should be
confirmed, and calculate how much the protection should cost. Now,
imagine you are a developer working on this project and need to add
insurance to the product. What do you do? Instead of reinventing
the wheel and adding more lines of code to maintain, you can
leverage our APIs to integrate all the touchpoints required to sell
insurance to your users (risk selection, quotes, issuing policy,
claims, ...). All the logic for the API responses is configured
from our app so your insurance team can easily iterate on the next
versions of your insurance product. Oh, and we also train machine
learning models so we can recommend ways to improve its
performance. We're live in production and have helped our clients
embed hundreds of thousands of insurance policies. While our tech
applies to any insurance use case, we are initially targeting
marketplaces that embed insurance. We'd love to hear any of your
ideas or experiences in this space. Thanks, Matheus + Jerome
Author : mriolfi
Score : 85 points
Date : 2021-02-04 16:02 UTC (6 hours ago)
| jld wrote:
| I've always thought Kickstarter should offer insurance that the
| creator will deliver the products they're selling.
|
| It would be hard to assess risk between all the different kinds
| of creators/levels of experience delivering/types of products
| sold, but I think it would be an interesting product for them.
| mriolfi wrote:
| That could definitely be explored. The key here, and to other
| new insurance products is: what unique data is Kickstarter
| generating about its campaigns that didn't exist before? I bet
| they have a lot of data on campaign types, product type, how
| much is being raised, etc, that could be used to assess the
| risk and eventually price insurance.
|
| The explosion in the volume of data that companies generate
| will definitely help accelerate innovation in insurance.
| nikunjverma wrote:
| Mind boggling idea. Thinking of how it could apply to the
| marketplaces that offer non physical goods.
| mriolfi wrote:
| Hi nikunjverma, it can definitely be done. For instance, a
| marketplace that connects software developers/designers with
| companies could offer professional liability as part of the
| offering.
|
| Can you think of other ideas?
| totaldude87 wrote:
| Notch it up a step further and provide insurance for security
| mess ups like someone accidentally posting ftp credentials to
| github. Enterprises would love to have their risks hedged
| razin wrote:
| Congrats on the launch, Matheus and Jerome! How are you
| differentiating Tint from other embedded insurance APIs like Sure
| and Boost?
| mriolfi wrote:
| Thanks! Our platform gives full control to the users, from
| setting up their product, to deciding which insurers to use, to
| running A/B tests with different pricing logics to optimize
| profitability. Think of us as the infrastructure/OS that helps
| the risk teams do their job better.
|
| Boost/Sure are good services, but they don't provide the same
| level of transparency and control. They work more like
| agencies/outsourcing than insurance infrastructure
| rubyfan wrote:
| Can you elaborate a bit? Your website seems to make it more
| confusing for me. There are a lot of buzzwords like AI, No
| Code and Embedded Insurance but I'm having a hard time
| understanding from the site and your description above what
| the platform does.
| mriolfi wrote:
| Thanks for the feedback, we should definitely improve the
| website - and the product communication overall.
|
| Say you want to embed insurance into your product - i.e.,
| let your users purchase it or automatically get from your
| sale/membership, etc.
|
| You have to do 3 things:
|
| * Design: figure out what you want to protect, the options
| you offer, when in your user journey, if you charge for it,
| etc. And find an insurer to take the risk.
|
| * Launch: you have to write code to plug the logic on your
| website, how to keep track, know who paid what, implement
| the logic that the insurer requires (e.g., don't insurer
| users younger than 25yo), etc
|
| * Optimize: after launched, you need to figure out if it's
| working (conversion, profitability, etc), what do you need
| to improve, and actually make the changes. It's a ongoing
| optimization problem.
|
| Our platform provides the tools to help your team do all of
| that, in different modules. We abstract all the complexity
| from your core product and give a GUI so your business
| users can launch and make changes (e.g., increase the price
| to certain categories of policies, remove age restrictions,
| etc) without asking you to change hard-coded rules in your
| product.
|
| I hope this helps, we'd be happy to chat more with you or
| any others that have questions or suggestions!
| dopeboy wrote:
| My first startup was in the equipment sharing space (specifically
| camera equipment). Back then (in 2013), getting insurance was
| either going through brokers and spending $ to get them to craft
| a policy for you. I would have loved something like this that's
| instant for the end user & plug & play on the business side.
|
| Fantastic idea, good luck.
| bberenberg wrote:
| Link?
| mriolfi wrote:
| We're at http://www.tint.ai
| Mizza wrote:
| This is the worst kind of feedback, I'm so sorry.. (website
| looks clean, product makes sense, value prop is pretty clear,
| I'm sure you'll do great)..
|
| ..but seeing "tint" and "ai" next to each other just makes me
| read "taint". As in, "the patch of skin between the testicles
| and the asshole".
|
| ..maybe try a different TLD?
|
| Again, so, so sorry.
| jeromesls wrote:
| oops! https://www.tint.ai
| radihuq wrote:
| This looks really useful! Is it available in Canada?
| mriolfi wrote:
| The software part is available anywhere, and we have clients in
| the US, Canada, Europe and Australia.
|
| We are only licensed as insurance brokers in the US, so we
| would have to work with partners in Canada and other countries
| to secure the insurance policy.
| [deleted]
| tln wrote:
| I worked at another startup called Tint - doing social media
| walls (www.tintup.com).
|
| Mildly curious -- how did you pick the name?
|
| Cool concept & best of luck
| jabo wrote:
| Oh hey, Tint (up) was the first thing that came to my mind as
| well!
|
| Now I'm curious too.
| mriolfi wrote:
| I wish I had a super interesting story, but here is the
| truth: we're building a product that covers many types of
| insurance, so we came up with "different tints of insurance".
| Like in the definition "any of various lighter or darker
| shades of a color".
| phonon wrote:
| How does this differ from https://www.qover.com/ ?
|
| Are you acting as a pure software vendor, or as a licensed
| entity?
| mriolfi wrote:
| We are a combination of software + marketplace (i.e. licensed
| insurance broker that provides full transparency to the
| clients).
|
| Qover is cool, the overall concept is similar to ours. It looks
| like they don't allow the companies to customize the insurance
| products, our platform can provide more tailor-made products
| phonon wrote:
| They do custom as well. I don't know what "marketplace" and
| "full transparency to the clients" means in this
| context...sorry :-(
| jolewy wrote:
| Parabens
| jedgardyson wrote:
| Congrats guys!
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(page generated 2021-02-04 23:01 UTC)