Innovation UnderCover had a beautiful conversation with Kate Terry, Co-founder and Chief Operating Officer at Surround Insurance. Aimed at satisfying the insurance needs of young adults, this company reinvents insurance through innovation and technology.

Applying advanced technologies opens a broad range of growth possibilities in insurance. For instance, by introducing mobile health services BIMA, Sweden's microinsurer, reached 20 million seekers in 15 countries whose citizens live on less than 10$ a day. That is why developing the insurtech sphere is very important, as it helps reach the people whose needs were unmet before.

Renu and Michael chatted with Kate about how it is to build an innovative insurtech business from scratch compared to her experience in a safe, corporate environment and how she generally ended up in this industry after graduating from Harvard. In this episode, you’ll also discover what are Kate’s two factors that impacted her success.

Some of the topics we discussed:

1. Helping people do something that matters
2. Putting people back together when life is unfair
3. Adapting insurance to what matters to the younger generation
4. Helping young adults establish their financial independence
5. Understanding how you set things up changes how people perceive risks

Other titles we considered:

• You Do Not Hesitate, You Do Not Pass Go, You Say Yes
• Taking on the Impossible Projects
• Once You Make the Jump, You Are Conditioned to Make the Jump
• What Game Do You Want To Play?
• I Am Not Going To Stop

This episode was produced by Khrystyna Khmilovska.