S4E5: Allan Egbert’s Insurtech Startup, 3 Years Later
Ask Kodiak's co-founder shares an update and lessons learned along the way.
Allan Egbert, co-founder of Ask Kodiak, was last on the show in December 2015. He was just getting ready to announce general availability of the Ask Kodiak platform. On this episode, Allan gives an update on what his team has been working since then, as well as how they’ve grown and what he’s learned along the way.
3 Years Back
When Allan was last on the show, Ask Kodiak only had a few users on the platform. He remembers checking logs just to see if people were using it and what they were up to. Now the platform has thousands of users and it’s continuing to grow. Another impressive feat, three years ago Allan said Ask Kodiak had not sought outside investment, and that has remained the case. One of the company’s goals was to be run on revenue, and while it’s been a lot of work, Ask Kodiak has remained self-reliant. However, Allan is quick to point out he is not against investment; he just hasn’t seen the right opportunity present itself.
Blast from the Past
If Allan could go back three years and give himself advice it would be this: Prepare for the highs and lows of entrepreneurship. When Ask Kodiak was just starting, he wasn’t prepared for the rollercoaster of day-to-day operations. Everything might be fine in the morning, only to collapse at noon and have to be rebuilt by the end of the day. Allan would tell himself to keep an even keel though this, to not over celebrate the victories or mourn the losses because that can lead straight to exhaustion. Tune out the static and focus on the work and keeping your customers happy and fans of your brand.
When looking to the future, Allan hopes that more insurtech startups will reach out and learn to work together. There is a lot to be learned from everyone in the space, and it’s in this regard that he hopes the companies working behind the scenes in “stealth mode” come out and show what they are working on.