99bros is a digital insurance brokerage platform that allows customers to choose the most suitable solutions for their risk profile thanks to an integrated system made of artificial intelligence, multimedia content, and specialized consultants. Users can deepen the topics of interest through the thematic guides created by the 99bros experts and obtain support from a customer service available 24/7. On top of that, by answering some quick questions on the website, the 99bros machine learning algorithm suggests the most suitable insurance coverage in real-time, which can be purchased online by the customers in a few seconds.
Tell us about yourself?
I’ve got a degree in Finance and I have been working in Insurance Companies during the last 15 years.
What is the inspiration behind your business?
Inspiration for 99bros came from the comparison between my Country, Italy and other Countires in UE. Millennials are the generation most exposed to risk and yet the least insured. I would therefore like 99bros to become insurance for Millennials and for Italy to fill the coverage gap towards other European countries.
What is your magic sauce?
We are different because we just don’t want to sell insurance policies. We want millennials to understand their risk situation and make sure they are aware of the importance of insurance and of all the tools there are to manage risk. Risks are everywhere and so are also the tools to mitigate them. We want to create an insurance culture, explain insurance in a simple way and give value to our customers and also to those who will not become our customers.
Where do you see your company going in 5 years time?
In 5 years I see 99bros as an important insurance broker in Italy and Spain, the first foreign market we would like to land on. We want to make insurance accessible to our young people, digitally and on mobile, with the possibility of having the support of a professional 24 hours a day but the possibility of subscribing to policies even 100% digitally and independently.
What has been your biggest setback so far?
The insurance market requires large investments and after 18 months from the launch we had to downsize due to the great effort required. But we are reorganizing and in the second half of 2022 we will restart with a very ambitious project together with an important partner in Italy.
What is the next big challenge for your business?
the next big challenge for the insurance business is to be able to create an insurance culture. Make people understand the importance of risk planning and management. We have already managed to reach people exactly when they need insurance coverage, and allow them to purchase the policy instantly and on demand. Creating insurance culture is the next step. The most difficult but also the most important one.