Why the Insurance Industry Desperately Needs Startups : An Interview with Nico Stainfeld, FinTech Partner at Foundation Capital

Hello and welcome to the latest episode of the Leadership in Insurance Podcast where this week we are lucky enough to be joined by Nico Stainfeld, Partner at Foundation Capital.

Nico is an early-stage investment expert from the team at Foundation Capital, who since 1995 have been leading the way in fintech, enterprise, and consumer investments. Their tag line 'building companies is in our bones' summarises just that and these values are clear throughout this conversation.

We discuss a whole host of topics (and could have spoken for much longer!) but here are some of the highlights...

• Total early-stage focus - the value of honing in & the rarity of 'staying in your lane'
• Foundations 1+1+3 approach
• How many firms actually make it past their first fund?
• 'The Emperor Has No Tech' as Nico puts it - Why the Insurance Industry Desperately Needs Startups
• If they are not going to spend the money, then they need to bring on board the start-ups 
• There is no bad risk, only bad premium
• Do we need more of a sense of urgency?
• 2023 insurtech landscape - Profitability is not for losers anymore!
• Technology was meant to transform the insurance industry but it hasn’t - why?
• Embedded solutions and buying behaviour - is there trust?
• Next-generation risk needs next-generation data
• You're not still doing insurtech investing, are you?
• Insurtech locals vs. tourists?
• What's next for insurtech?

Thank you Nico for your time, it was great to speak to you!

This Podcast was brought to you by FinPro, an executive recruitment business that works in the Insurance and Insurtech space.

Our host in FinPro Director, Alex Bond

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