Silicon Valley – Where Tech Meets . . . Insurance?
Apple, Google, Facebook. When you think of these companies we doubt insurance pops into your mind. But in Silicon Valley, insurance is undergoing, let’s call it a “makeover”.
An organization called Plug and Play has an insurance vertical program connecting startups from around the world to companies and investors.
So what is coming out of these connections which could impact your life in the near future?
Heard of Airbnb or Lyft? Most of us are utilizing these sharing services for travel and transport but what happens if there is an incident? Whose insurance kicks in? Does your current coverage even cover guests?
Slice provides Homeshare Insurance for Airbnb renters and Auto Coverage for rideshare drivers. What is great about this coverage? You only pay for when you are conducting business. Imagine pressing the start coverage button when you pick up a passenger and stop coverage button when you drop them off.
Enter Westfield. Providing Tools for Real Advantage
Westfield partnered with Plug and Play this past March with the hope that these innovations will better the insurance industry for consumers, agents and carriers alike.
“With Plug and Play’s direct reach to startups across the world, Westfield has a global view into innovation trends within the insurance industry and across other industries in which we serve.” – Stuart Rosenberg, Westfield Innovation Leader
Sizing Up Your Competition
Wouldn’t it be great to access detailed data about your competition, potential customers and the best places to advertise all for free?
Thanks to Plug and Play, Westfield was able to answer this question by connecting with a competitive analysis tool called SizeUp.
And how exactly will SizeUp answer the question? “With a simple click of the mouse, entrepreneurs can access valuable industry data and research insights – complete with easy-to-understand interactive maps and graphs.” Says Anatalio Ubalde, CEO of SizeUp.
Cheeseburger in Paradise. A SizeUp Example
Since your first job at McDonald’s you have wanted to open your own burger joint, but life got in the way. One Friday movie night while watching, The Founder, about the rise of McDonald, your entrepreneurial spirit is rekindled.
So where do you begin? Where should you build your location? Who do you target? Where do you place ads promoting your grand opening?
With SizeUp, all those questions can be answered with a few simple clicks (see below):
- Type in burger restaurants
- Search Cleveland, OH
- Click on consumer spending – dinner
The residents of Rocky River love going out to eat and also enjoy the beaches of Lake Erie. The lack of competition in the northern part of the city coupled with spending habits and also the amount of foot traffic near the beach get your creative juices flowing.
Now you have to advertise your beach front burger restaurant and hire employees. SizeUp can help with that too!
Westfield is proud to put competitive data in the hands of small business owners. SizeUp is just one way in which we deliver tools to give you the edge in the marketplace.