Buying startup company insurance can be a daunting task. The insurance market is fragmented and there are no shortage of products out there. The industry is not exactly the tech savvy either and many brokers still employ items as archaic as fax machines in their practices. Just finding where to start can be a hassle! … Read More
Insurance for Internet of Things Companies — what you need to know The Internet of Things space is exploding right now and shows no signs of slowing down. In fact, some sources estimate that there will be 200 billion connected devices on the planet by 2020. The current global market size is estimated at $4.9 … Read More
**This is a guest post by Scott Smedresman of Sorin Rand.**
Background As we mentioned in a previous post, many of the startups we work with at Founder Shield are a new breed of B2C services. These companies leverage the latest technology to perform traditional services more efficiently and create a much better user experience than ever before.
The Space There’s a new breed of technology-enabled B2C services startups and we deal with a ton of them at Founder Shield. Think Uber, GetMaid, Makespace…all of these companies use custom platforms to access traditional service providers in very non-traditional ways. This creates exposure to a wide variety of liability. Here’s a quick look:
We track down Tech Errors and Omissions policies for the majority of the companies we work with. It’s extremely important coverage for anyone leveraging technology or social media, which most startups constantly do. Even using things as simple as AWS or Facebook login can expose your company to a lawsuit, and in a fast-paced, … Read More
The Space The Enterprise/SaaS space is hot spot for startups. The market size of this space projected to grow to roughly $22 billion by 2015. We work with several companies building enterprise/SaaS solutions, ranging from data collection to “consultative sales” to outpatient management and all done in the cloud.
While this list is definitely not exhaustive, I wanted to briefly shed some light on a couple of the reasons why startups should be need insurance and should look into coverage options regardless of where they are in their life cycle.