“There’s a lot of software out there that does very similar things, built by other software professionals who know how to build good software for problems they’ve experienced,” he said. “We just felt Silicon Valley didn’t need more software for itself.”
So they intentionally changed focus to insurance, he said, an area they knew very little about.
It was a lucky hunch. Insurance is one of the many industries that seem tech-adjacent (it’s often coupled with financial services) but in truth has been largely ignored when it comes to new technology, in particular vertical-specific solutions.