REGIONAL REVIEW to solve , one that is worth paying money for , and that is wide enough to enable you to build a successful technology company .
Marketing matters
Planning your marketing is as vital as developing your product . Don ’ t just focus on building your product ; invest significant effort into strategising promotion and marketing . As a start-up , your brand is fresh , but unfamiliar and not yet trusted .
One effective strategy is to collaborate with bigger , established brands to increase visibility and borrow credibility . Brand value plays a significant role in sales . An established brand can make sales and partnerships easier .
Adaptability is key
Flexibility in business models can lead to surprising successes . This is especially true if the initial approach is proving difficult to convey to potential customers . For instance , Root changed course from a direct-to-consumer approach with its original open banking solution to working solely with large enterprises that have existing consumer relationships .
These days , Root offers an insurtech platform following a purely business-tobusiness strategy , which has proven beneficial , and easier to export to other geographies , like the UK .
Root ’ s platform now helps insurers develop products , which are white-labelled by retailers , telcos and financial institutions . This model is proving useful for insurers across the world , allowing Root to expand beyond its initial success in South Africa and Mauritius .
Collaborate , do not compete
Instead of viewing big insurance companies as competitors , see them as potential collaborators . Not only is www . intelligentfin . tech
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