The Reinventing Finance Podcast - Episode 6 with Steven Mendel, CEO and Co-Founder at Bought By Many

Reinventing Finance

Steven Mendel is the CEO and Co-Founder of Bought by Many, which is disrupting the world of pet insurance through its innovative use of tech. He has over 25 years of experience as an actuary in financial services which has included leading Close Brothers Wealth Management during the launch of their non-advised offering; creating the world’s first art-focused wealth advice offering for Christie’s; working as part of the team that formed Barclays Wealth and heading the McKinsey UK Savings and Investment Group.

In this episode, Steven sat down with us to discuss the following questions and topics:

➡️ Why did Bought by Many decide to focus on Pet insurance exclusively?

➡️ Having started Bought by Many in 2012, you “only” decided to take venture funding end of 2016, can you walk us through the why and the how?

➡️ What does it take to build a successful insurtech MGA and what advice could you give in terms of product, distribution and what to focus on when looking to introduce the MGA model?

➡️ How do you decide on where to expand to next (why Sweden?) and can you share a bit on your US market entry strategy?

➡️ Do you focus on insurance brokers as well or do you only focus on the direct market place?

➡️ How could insurers collaborate with you?

➡️ What are the highlights in store for 2021 and the future, what are you most excited about?

➡️ What are your lessons learned and experiences with Munich Re?

➡️ In hindsight, are there any things or mistakes you made that you regret?

To watch the video of the recording: https://www.youtube.com/watch?v=LtmeFpZFdqE