Wayne Slavin On Raising $123 Million To Build The Rails That Connect Consumers To Digital Insurance

From a humble beginning in South Africa to becoming a serial entrepreneur in the United States, Wayne Slavin’s story is one of perseverance, adaptability, and relentless pursuit of innovation. As a young immigrant in Southern California during the late 80s, Wayne experienced a world where possibilities seemed endless despite the initial challenges his family faced.

Wayne’s latest company is Sure that has attracted funding from top-tier investors like BluePointe Ventures, FTAC Ventures, Menlo Ventures, and Cohen Circle.

In this episode, you will learn:

• Wayne Slavin’s immigrant background in Southern California instilled a strong work ethic and entrepreneurial spirit.
• Wayne’s passion for technology started early, leading him to pursue education and hands-on experience in tech management.
• His entrepreneurial journey began with bootstrapped startups, learning the importance of controlling destiny and profitability.
• Wayne transitioned from bootstrapped ventures to seeking external capital and mentorship to scale businesses effectively.
• His experience across consumer electronics, enterprise software, and payments led to the creation of Sure, a contextual insurance platform.
• Sure evolved from a consumer-facing app to an enterprise-focused SaaS infrastructure provider for the insurance industry.
• Despite significant venture capital raised, Slavin emphasizes the importance of profitability and financial prudence for sustainable growth

 

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About Wayne Slavin:

Wayne Slavin is the CEO and Co-Founder of Sure, a VC backed insurtech startup. Prior to Sure he was the VP of Product Management at Tapingo, TechCrunch’s Most Innovative Company of 2013.

His other past projects and companies include NetStumbler, a consumer app with more than 1,500,000,000+ billion downloads, the Barnes & Noble Nook eBook reader, Buddy Media (now part of salesforce), and BackupRight the enterprise SaaS company he sold in 2012.

He has a Masters Degree from Columbia University.

Connect with Wayne Slavin:

• LinkedIn
• Crunchbase
• TheOrg
• F6S

Read the Full Transcription of the Interview:

Alejandro Cremades: All righty hello everyone and welcome to the dealmakerrs show. So today. We have a really exciting founder. You know a founder that has done it a couple of times you know I would say and you know the building the scaling the financing the exiting. So all the things you know that we like to hear you know in this show you know. Also we’re going to be hearing what he’s up to with his latest baby. You know which is quite a ah rocket ship. You know that he has been pushing now for 9 years but really exciting and inspiring conversation ahead of us so without further ado. Let’s welcome. Our guest Today. Wayne Slaben welcome to the show. Thanks.

Wayne Slavin: Thanks so much for having me lovely intro happy to be here.

Alejandro Cemades: So so originally from outside of the us South Africa but obviously you came you ended up coming here. You know to Southern California San Diego and then the rest is history so give us how walk through memory lane. How is life grow00:54.54

Wayne Slavin: So yeah, life growing up. Um, was something that I think probably tough to replicate these days but it seemed like an amazing time a coming with an immigrant family to the states. Into Southern California in the late 80 s ah time where I think there was anything was possible. Feels like that was ah in hindsight how the world looked from a place like San Diego in the early eighty s you know the freeways were empty I remember being told stories about how. Freeways were so empty that the cars would gather together because it was too lonely to be on the freeways by yourself and you know here we are thirty years later and wow how things have changed and progressed but very blessed to have ended up in a place like that. And ah grateful for ah for my family for having brought me out of Africa quite literally to the states and let me pursue my dreams and.

Alejandro Cremades: How was I like to of um, you know how do you think it has shan you up to have um, immigrant parents. You know to to come here. You know with nothing build a better you know future for the family. How do you think that has shapen you up.

Wayne Slavin: I think the the key there is sharing stories sharing knowledge sharing perspective of each generation getting getting to a different place and having an appreciation for. Generation before was just was just awesome and and the work ethic is also really touching reflecting a couple of years ago during covid as a parent now as a parent of ah you know ah of young kids. Really thinking about where the next thirty years are going to be that were like the thirty years I you know really enjoyed in California before I made my way around the states and and reflecting on that moment and how you know the stories repeat in people’s lives generation after generation. And picking my family up and leaving California and going to you know Texas in this case during covid but really ah, having that appreciation for I’d say the grit and the the bravery to just pick up from a place where you quite literally had to leave everything behind. It’s hard for us to imagine these days. It was a country that people were leaving and you actually had to leave your stuff. You couldn’t just book a flight on Delta put your stuff in a bag and just go you actually had to leave things that you wanted to bring with you. You had to leave them and start quite literally fresh and and that.

Wayne Slavin: That grit I think is just embedded in your Dna after after you, you see your parents go through it. So.

Alejandro Cremades: So in your case, you ended up getting your undergrad in San Diego then you got your grad in in New York City actually in Columbia but it sounds like management. You know it’s all over whether it is technology management. You know, but management you know seems to be like something that you really were going for so white management.

Wayne Slavin: Yeah, um, say that there’s people who love to ah, go deep. They want they figure out what they love and they go deep but they want to go deep in the area that they’re already passionate about and they go academically deep as well. And then there’s folks who go after the thing that like that is not their sweet spot by default and so I grew up in tech my entire life right? It started with dos and dial up and. Bulletin boards and literally breaking the computer every day my dad would have to fix it. My older brother would have to fix it and I would break it from like 3 years old and eventually I started to fix the computer for other people for for my parents etc and so the tech part. Came easy for me and I maybe naively believed that like the best product would win. It didn’t matter all the other stuff didn’t matter. It was like a tech beauty perfection purist right? If you built the best product you would win and. As I had built early businesses early experiments early ways of trying to make money on the internet in like pre two thousand it became clear that that wasn’t the case and so I think always knew that the piece that would be hard because it just wasn’t a natural skill.

Wayne Slavin: Would be how to build and scale out a company and a team and a culture and so rather than go get a degree in the thing that I already knew how to do and had been doing for 20 years why not go to that other thing that is I think more art than science. And more situational than actually data-driven and empirical which is code product things working together and people don’t always behave rationally systems don’t always congregate around the most efficient solution. Maybe over millions and hundreds of millions of years you could argue an organism does that but companies don’t usually live that long and so what are the things that you could learn about managing that ah more effectively and so didn’t see the need to like go get a stamp of approval for technology. When as an undergrad is a funny side story here as an undergrad went to you had to pass a mandatory technology course went to the professor and said hey after the first class hey’ going to come visit you during office hours in the office hours. It’s probably a little. Cocky about it but said literally either I’m going to disrupt the class and correct you every time you make a mistake or I just want to show up and take the final and he said know what we can do though is you could teach a class I will.

Wayne Slavin: Let you take 1 of the semester classes and teach the whole class something and decided to do that and it was funny as an undergrad was waking up at seven thirty a m to take classes leaving by lunch to go to my day job. Which was like running a data center for a big startup in San Diego and so um, didn’t didn’t see the need to like get the stamp of approval that I could do tech it was always It was always there. So.

Alejandro Cremades: So then talk to us about venturing into the world of entrepreneurship.

Wayne Slavin: Yeah, I’d say this Spark started pretty simply and I do think about this a lot these days as a parent.. How do you instill this in kids and I’m sure lots of your listeners think about this too and read books on how to you know motivate your kids etc. But I think my parents ads entrepreneurs. Um, really just maybe by accident maybe intentionally just told me if you want something you got to go figure out how to do it How to get it and just go figure it out and then the beauty of I think that moment in time was that.

Wayne Slavin: They just then let me go figure it out. So if I wanted a you know landline phone in my bedroom or I wanted a Tv in my bedroom I to go figure it out and it was a moment in time you could figure out how to make money on the internet. There was lots of innovative ways to do that. And it was before everything was commoditized and we all had shopify and wordpress and all these awesome tools and so there was a moat. There was a barrier to entry but it was just a question of you know time and your dedication to figure stuff out and so I think my parents just said. You can have anything you just got to go figure out how to get it and that was really the journey and you know I’d I’d I’d argue there was maybe too much imposter syndrome because it was like wait that actually worked why not go do it more. Do it bigger. Do it larger? Um, but it was always with you know, big, big dose of skepticism of will this work in hindsight many of them worked and probably could have been even more successful if we had poured gas on it and that ties back also to why management. How do you know that? something’s working when do you know to pour gas on it. It’s not always obvious when you live and breathe it and eat it and you know that’s your whole day. Sometimes you don’t know when when it’s actually working or not.

Alejandro Cremades: So so in your case you know you actually ended up going to grad school. But 1 thing that is very interesting here. Is you go to grad school and then you go back in into joining other teams into joining more like the corporate side of things because. 1 thing that is striking me is before grad school. You actually built a couple of companies and in fact, you even sold one. You know, ah, essentially so once you’ve seen the full cycle of building scaling financing and and exiting I mean why going to corporate versus you know. Going at it again.

Wayne Slavin: Yeah, my early startups were all bootstrapped back to that immigrant mindset I think being in Southern California might have been different if I was in Northern California around the world of venture. Southern California vc I think is still not taken hold right? It’s still not part of the culture. It’s a great place to live and in remote world. You have venture back companies that have people all over but at that time that was a foreign concept and so everything was built bootstrapped. Tied together with you know, shoelaces and duct tape and you know the skin of an avocado in San Diego like that’s what everything was held together by and they happened to work because what other way was there that was the only disciplined way to build a company was to bootstrap it and make it profitable and so. First company helped cash flow and bootstrap the second going from an ad-driven revenue model which is unpredictable. You know Google is the overlord of that they control your your clicks and they control your top of funnel and they control their cost per. Click and that was it and that wasn’t a comfortable place for me to be because you couldn’t control your own destiny which has really been a theme throughout my life and throughout companies and the culture of the company controlling your own destiny and moving from that business model into a saas model.

Wayne Slavin: And at that time there was no sastster and it wasn’t even called Sas. It was just like how can you get people to pay you monthly so that you wake up on the first and you don’t have to start from 0 you start from some baseline and built a company scaled it um to a point. But. But like I said earlier you you don’t necessarily know when to pour gas on and nor do you know how and so built a company to the point at which you know I reached my ceiling for that moment in time and decided hey. I built it. It worked we you know our retention numbers in hindsight were elite retention numbers for a saas company and our nrn our r was elite company status but it just didn’t it just wasn’t known right? The history hadn’t happened yet and and so I said well. A linear growth business things were starting to go viral if you remember in the early you know early two thousand s that was like this whole idea of things going viral at Jcurve a rocket ship and I was like but that’s not what’s happening here. This is like put money into marketing and it grows and it compounds. Linearly and and so I actually thought that there was something I was missing and maybe I wasn’t missing it. Maybe I pulled the rip cord too early but decided hey I want to go where somebody understands outside capital and how do you pour fuel on this thing and so.

Wayne Slavin: Decided to go to grad school in New York could have gone to the bay area but decided to go to New York to to get a change of pace and the reason I went to the program I went to was that only about 20 people accepted to the program I think they made a mistake um on you know my application. Maybe ah, they just to hit the wrong button that the system didn’t allow them to undo it but I showed up on the first day and the the reason I wanted to go there was that they matched every student with like a sitting fortune 500 cio or cto of a big company. Whether as a bank. Private equity etc. And I said I want to be around a mentor who knows that world of you know venture outside capital etc and so tailored kind of my work and my thesis work and my coursework around really attracting that mentor and. Ended up successfully doing that with an awesome venture investor who’s still to this day on our on our board. Um, and that’s where I said hey I want to do 2 things in parallel I want to go to school to learn how to be a better manager. Want to find someone who knows this thing I don’t know about and instead of learning by failing I just want somebody who’s done it to explain it to me and successfully did that and then said well I’ve always done 2 things at once studied and worked or worked 2 things in parallel and so.

Wayne Slavin: Didn’t want to be working on my own gig wanted to learn from others and so joined you know, initially a big company trying to go online and struggling with it and then later on a scaling saas startup. 1 of the biggest successes in New York tech history and I think actually all 3 of those things have helped me to level up watching great managers watching terrible managers watching politics watching aligning incentives and and and just learning as well. Academically I think it’s all it all plays together in.

Alejandro Cremades: So so what do you? What do you thinking? I mean are obviously incredible companies now that you were alluding to I mean one that got sold you know which was burn So no digital. Um, you know it was part of that then body media which got acquired by Salesforce that was actually an incredible exit.

Wayne Slavin: In ah in a Symphony and.

Alejandro Cremades: And then also tap Lino that was acquired by grubhop. So I mean obviously this is incredible experience that experiences that you were achieving and putting under your belt I Guess what do you think needed to happen for you to be okay with the idea of going at it. You know again.

Wayne Slavin: So yeah I I want to say that the the we’ll get to you know this? the start of sure and how we you know came up with the idea for it here in a minute but I’d say the thing that gave me the confidence honestly was.

Alejandro Cremades: Ah, show founder first.

Wayne Slavin: Came up with the idea and laughed about it I thought it was hilarious like this was actually a joke of wouldn’t it be funny if Xyz was possible and just couldn’t get it out of my head and you know when. Started sure this was like peak vcs subsidizing uber ubers across San Francisco were like $2 and twenty five cents I mean it was like any idea you could throw at the wall. You could probably be able to go build it right? And. At least raise some seed capital and really waited for that thing that just got under my skin and just couldn’t put it down and waited for I guess the confirmation on a long weekend that hey I’m going to go build this thing and see if it works and if it doesn’t work. Okay. But at this point I can’t ignore it anymore that was that was the moment that.

Alejandro Cremades: So when you realize I can’t ignore this any longer what happened next.

Wayne Slavin: And um, well I’ll back up a sec if I if I could so I’ll give some context had gone through consumer electronics business gone through an enterprise software business then into a payments business and you know. Payments I thought was a perfectly challenging. Great company. You know moment in time of how are we going to do ah food ordering mobile payments on closed ecosystems and we had done an amazing job. Changed college campuses changed the you know the the world of ordering food and actually to Pingo where I was a Vp of product before starting sure we ended up being Techcrunch’s most innovative company of 2013 and nobody had ever heard of us. But this was ahead of snapchat. Amazon Tesla all these companies and it was like this little company in San Francisco is actually doing amazing stuff and I think that that was always an important thing of fighting above your weight class just because you didn’t raise the most capital just because you didn’t. Have a name. Everyone knew just because you were under the hood rather than the brand didn’t mean you couldn’t do awesome things and so I thought coming out of that experience that nothing can be harder than what we were doing like it was just so.

Wayne Slavin: Difficult from hardware to software to the adoption curve of mobile to you know ipads having lte versus just wi-fi like we were dealing with so many interesting problems and ah and then on the enterprise side dealing with huge institutions. Not just you know, payment and money movement but selling into quite literally governments and universities and like how challenging that is and people who want to control their own areas and I thought nothing can be harder than this this like anything will be less complex than this and boy was I wrong. Um, but basically I was on flight to to Las Vegas and I think you come up with ideas in a couple of good places one in bathrooms and if you’re in the bathroom. Maybe you’re taking a shower. Maybe you’re doing something else I think you come up with some good ideas there. And I and I think you come up with good ideas. You got nothing else to do you know these days you have a lot of distractions but on a flight and I was on a flight to Vegas and I saw the people sitting next to me gripping the handrests because we were in a little bit of turbulence and they were so you know so super scared. It is scary. But. Then took a step back and said this is one of the safest places you can be It’s much safer than riding a bike or taking a car trip. This is super safe and I said we do hundreds of millions of mobile transactions a year like this is what we’re really good at.

Wayne Slavin: And at that moment I said I wonder if I could sell these people life insurance before we took off. They are so scared right now I wonder if we could contextually target them and say hey you’re about to get on a flight from Baltimore to Miami amazing. Why don’t you buy life insurance right now and that was like the the. Kernel of inspiration and actually stood up on the plane and asked 3 rows ahead of me and 3 rows behind me hey if before we took off, you could buy life insurance for ninety nine cents would you buy it and everybody obviously they were scared at that moment. Their heart rate was you know one 50 said hey how could I not buy it and again. Like I said a minute ago I thought it was hilarious I’m like wow that was just so funny what ah what a funny observation okay back to selling smoothies on college campuses through a mobile app and took about a year of just joking about it and laughing about it to to really? ah, build a prototype and um. That Prototype was really approached blank slate I knew nothing about insurance knew about ecommerce knew about about you know, contextual commerce and said hey I wonder if people are going to buy $50000 of insurance 5000000 of insurance. Are they going to spend ninety nine cents are they going to spend twenty bucks I had no idea but built the entire flow if you will to go through purchasing quote unquote life insurance and it was purely a test trafficked it with ads.

Wayne Slavin: And had a few hypotheses that I wanted to prove I wanted to see if people would buy it a week in advance or 5 hours in advance or if they were going to buy it for just the one trip or their round trip a few different things so needed to figure out price and product mix needed to figure out some data about when they’re going to buy it. Um, because there’s you know insurances sold to people or maybe there was going to be a change where people would buy it if they could buy it right now. Ah and and ended up testing that mix and having a conversion rate at its best converting offerings. Ah, 15.9 one and I said wow and Jeff Bezos would be jealous of click to buy of 16% I have to build this business like at that point that was the moment where I was like okay now I have to build it like it worked I thought it was a joke. thought it was funny I thought I could spend a weekend testing it out and then some confirmation now. You got to go build it but still knew nothing about insurance I mean all of it was just hypothetical from the name to the landing pages to what information was needed. And and then said okay, ah I can’t be the first person to have wanted to start something in insurance and go do some research find an article about a guy who tried to start a life insurance company and the article was titled something very inspirational. The startup from hell quite literally.

Wayne Slavin: And it was a story about a guy who went and tried to start a life insurance company after um, after a moment in in his life and it didn’t go so well and I said whoa. Okay, he obviously learned some things another theme in my life I like to learn from other people rather than fail at it. And so reached out to to him and said hey man I read the article I’m a serial entrepreneur. Um I want to know if I’m an idiot and if I’m wasting my time in insurance and he responded back and said too early to know if you’re an idiot but you’re not wasting your time and insurance. Let’s. Get on a call and that was kind of my first introduction to anybody that knew anything about insurance. He ended up ah running a large life insurance company years later and I went on to start sure and it was based off of that idea that like eventually insurance was going to come online. And didn’t know how we would get it there but you know that’s kind of part 2 of the story first.

Alejandro Cremades: So for the people that are listening to get it. What ended up being the business model of sure. How do you guys make money. Yeah.

Wayne Slavin: So change over time is more of an evolution than a hard pivot I think people fantasize about this idea of pivoting I mean it’s amazing. That slack was a pivot So. There’s some other amazing pivot stories. We don’t have a pivot story per se. Ah, we originally started out with a mobile app to sell lots of different types of insurance through one interface. So hey I can open this up. Not unlike I’m going to go to doordash and I see every restaurant. Okay. I’m going to open up this app and I’m going to see every type of insurance I’m going to be able to buy it right now. I don’t need to reenter my information I don’t need to do anything.. It’s just automatic and um and it turned out that management all all those those degrees didn’t teach you anything about Marketing. So. Customer acquisitions. Not the the sweet spot Ltv- to Cac ratios that are Crazy. Don’t make me sleep well at night and so eventually we went through this process I went through the process going and seeing the c-suite of. Many major insurance companies in the Us and we had a pretty simple conversation. The conversation was hey we want to sell your product through our mobile app but didn’t matter if it was home insurance or pet insurance or travel Insurance. We want to sell your product cool.

Wayne Slavin: Here’s the demo. The demo took 30 seconds that was kind of the point is that it took 30 seconds to buy it and then we would spend the remaining part of that meeting that I had to travel across the country to go do for you know 1 hour spending multiple days on the road to go do spend the rest of the time showing them what we had built that. Ran the business. Really the backend and um and the first part of the demo would go great. They’d be like. Okay yeah, you could sell our insurance product through through your app. No problem. We love that. But show us how you do that thing show us that. That system that you were running your operation off of and that’s when they would start calling people into the room like literally being like hold on. Let me go get so and so he needs to see this or she needs to see this and I mean I’m pretty slow on the pickup. And it took about 6 of those meetings going exactly the same way for me to realize actually that’s the thing like like we’re really good at building enterprise software the distribution piece and the customer acquisition piece. It’s just not the sweet spot for us and so really. Evolved the business to be much more enterprise- focused infrastructure focused and that worked out well with kind of the how the ins ensure tech market unfolded going from insurance companies that were trying to bring technology.

Wayne Slavin: To where we are today and I would call the first part of that insure tech 1.0 to where we are today which is thriving burgeoning. It’s called insure tech 2.0 really focused on software infrastructure and rails and that’s and that’s really been the. Unfolding of the business and what we do and so in summary, we really provide the saas infrastructure and solution today ature to run an end-to-end insurance program. We. Do it go ahead. Click.

Alejandro Cremades: So I was just going to say that they obviously you know like this this is capital intensive. You know, ah you know some as I’m listening the um, the infrastructure that you guys have built and what you have accomplished is is really remarkable I Guess. For the capital side of it. How much capital have you guys raised to date and what has been the experience of going through the cycles there.

Wayne Slavin: So yeah, we’ve raised to date where I call us a pre ipo company because Ipo Market hasn’t really opened up yet. But we’ve raised through our series c which we raised in 2021 and we’ve raised about one hundred and twenty three million dollars in venture capital from traditional vcs and corporate venture as well. So corporate corporates that are in our space that understand our space and kind of did it in the normal way right? go. Meeting lot of meetings with vcs lots of pitches and and and finding our way but always knew that I wanted to rather than make fundraising the thing that we’re the best in the world at. Always knew that that’s just the means to an end and just because you raise the money doesn’t mean you have to spend the money and wanted to control our own destiny and so even though we had raised our series b and were profitable as a startup before it was cool to be profitable people used to say why would you want to do that. And here we are four years later and people are like The only thing they care about is are you profitable. Go speak to any Vc who who you meet on ah on a daily basis and they’re like that’s all we care about but four years ago they laughed they were like what why would you want to be profitable.

Wayne Slavin: And so we built that muscle tying back all the way to you know immigrant Bootstrapped origins. We knew how to do it and when we raised our series c we raised $100000000 from some awesome investors and we did that we had every dollar of our series b still in the bank. And that I’d say capital efficiency that attention to when is the time to scale when is the time to grow really allowed us to navigate this turbulent past four years of covid furloughs. Layoffs profitability ventures drying up deals and valuations and structure and term and I think that that’s just a contrarian way of building a company and you can do it even with traditional sources of capital. Ah, and so that’s really been. That’s really been. Experience to date and we’re in a fortunate place where we don’t need to raise money and can just continue to build and.

Alejandro Cremades: You get to control your own destiny which is beautiful now obviously with with investment you know comes um also betting on a vision. So as we’re thinking about that Wayne you are to go to sleep tonight and. You wake up in a world where the vision of sure is fully realized what does that world look like.

Wayne Slavin: Yeah, the vision of sure starts off with something that people think is just a crazy statement and and that crazy statement is really that today if you trust Mckinsey data but also our real world experience running. Billion Dollar insurance programs is that 1% give or take of insurance. Transactions are truly online meaning there’s no human involved. This is not my pivot to Ai. Believe me, it’s more to say that. Even today in 2024 the internet’s been mass adoption curve since 90 95 like this been happening for a long time There’s a human involved in 99% of the transactions. And that could be an agent that could be somebody who shows up at your house to look at your roof or your pool or your fence that could be somebody who is just entering information from 1 system to another because they never automated it or down to a claim somebody getting involved there and so if we’re at like 1 % truly online we’re actually pretty parallel to the moment in time when credit cards started emerging in the early sixty s where prior to that. Everything was cash and check like there was no other way to make a payment but there were a few people a few companies that made.

Wayne Slavin: A bet that Mastercard and visa come to mind that cashless transactions were going to be the thing that dominated commerce and it took a really long time right? I’m sure you can remember being in New York city not that long ago where you couldn’t pay for your taxicab with a credit card like. Went industry by industry business by business accepting credit cards and here we are today you go out for lunch on your break and there are places you can’t even use cash anymore. It literally says on the door. We are cashless and so people. Get wrong what will change in 1 year um they overestimate what’s going to happen. It’s a venture problem right? They think in 1 year this whole thing’s going to be solved and they underestimate what’s going to change in 10 years and if you have a 10 year mindset the vision of what we’re doing at sure is yes, we’ve built a ton of technology infrastructure. That required capital and investment and you know ah pragmatism to do but what we’re building is really the visa of insurance and the rails to bring insurance transactions online between 2 constituents and I’ll give it to you this way. In the world of visa and Mastercard. They’re the network I’m going to simplify this I know there’s a lot of fintech nerds and they’re going to yell at me in the comments and that’s fine. But in this simplified network you’ve got issuing banks and underwriting and lending and you’ve got merchants who are the distribution.

Wayne Slavin: In what we’re building in in our rails insurance companies are underwriting and in essence issuing policies and what we’re doing is enabling a new set of distribution global fortune 10 fortune 500 consumer brands that don’t sell insurance today to sell insurance. So we’ve helped the world’s largest ev manufacturer launch their auto insurance business. We run the auto insurance digital and auto insurance business for the largest car manufacturer Toyota do the same thing for small business insurance with companies like Quickbooks and. Mastercard and folks like revolu and money lion. These are companies who have millions if not billions of consumers that they have nailed their first act they get their product people. Love their product. They use their product all the time and they’re looking for. How can we expand our Ltv. How can we drive more revenue from our customer base and they naturally arrive at what about insurance and and it’s just really hard because that insurance companies never built the technology these consumer or b two b companies aren’t going to learn insurance and that’s the same way. Every merchant is not going to integrate to every bank and every bank is not going to build their own merchant network they’re going to use an independent so you talk about the vision. The vision we have is not to build an enterprise software company the vision we have is that.

Wayne Slavin: If we’re at 1% adoption of insurance is truly online today by 2030. We want to be 9 % of insurance transactions and behind payments insurance is the biggest dollar value in the biggest tam in fintech. So there’s about 6000000000000 some people think it’s double that 6000000000000 of insurance dollars to play with. We want to bring the next nine ten percent online in the next five years and right now we’re doing it. We’re already running. Billion Dollar insurance programs through our rails. For example.

Alejandro Cremades: I love it so Wayne for the people that are inspired that will love to reach out and say hi. What is the best way for them to do so.

Wayne Slavin: Um, certainly hit me up on X can shoot me an email. It’s my name at our domain name dot Com happy to respond and be helpful where I can and give advice if it’s worth anything. Feel free to not listen to it. Yeah.

Alejandro Cremades: Amazing. Well hey Wayne thank you so much for being on the deal maker show to it has been an absolute honor to have you with us.

Wayne Slavin: Yeah, thanks so much for having me on.

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