At Hedera we believe knowledge is learned by doing, not merely by reading books. That is why one of our consultant went to Kenya to be immersed in an early stage Insure Tech. This company offers micro insurance to the low-income class to provide financial inclusion and avoid financial disasters following unfortunate events. Their digital solution has the potential to disrupt this traditional complex and paper driven sector.
Unfortunately, the company was lacking market traction. Our consultant together with 3 other international consultants helped to pivot the company’s business by implementing the fundament of the Lean Start-up Methodology.
However, the biggest lesson learnt from the entire experience is that the Lean Start-up Methodology is not just for young start-ups. The era of simply using a cost-cutting strategy to increase efficiency and assuming to know what your customer wants is over. To secure the survival and growth of existing companies, they will need to keep reinventing their business. Organisational Agility will be required if a company doesn’t merely want to survive but still wants to thrive in the future.
Discover the story of GrassRoots Bima, an insure-tech business in Kenya which digital solution, WazInsure, has the potential to disrupt this traditional, complex and paper driven sector.DOWNLOAD