Q&A with CEO and Co-Founder of MyClaimMate, Gilberto Spencer.

How this Insurtech startup is making painful insurance claims a thing of the past.

  1. Describe your startup in 3 words.

Revolutionising the traditional insurance claim experience.

2. What does your startup do? Why does it do it? And how?

We help insurance companies provide better support and assistance to their customers and empower them on the way.

Gilberto Spencer from MyClaimMate

Our product establishes a direct and efficient communication channel for both parties, allowing the insurance provider and customer to interact during the claim process. This connection provides reassurance and transparency to the customer, two things that are often missing during a claim process.

3. Have you ever thought it was all over? And how did you bounce back?

Yes. There was one point where I followed the advice to pivot my idea and when I did, I completely lost interest as it was no longer solving the problem that I wanted to solve. The product no longer had an impact or would improve lives and for me, that is the most important aspect of my startup.

Eventually, I bounced back and remembered why I had founded MyClaimMate in the first place. I remembered the stories of my customers who went through an accident, illness or injury and how my product could l transform their experience and make a difference.

4. Who are your top three mentors?

I will mention the top of my top three. Aurora Voss, she is and have been incredible to us and an early believer in our project, its mission and purpose.

“Gilberto is an industry expert who is deeply connected to the problem; having worked in claims he knows first hand what the market is crying out for.” — Aurora Voss, H2 Ventures

5. How do you manage to stay sane, maintain a personal life and run a successful startup at the same time?

I surround myself with friends, family and people who stand for the same change I want to see in the world. They have pushed me forward in the moments I’ve thought I couldn’t.

6. Tell us how you got things off the ground and won your first customer?

We’ve been lucky enough participate in the H2 Accelerator program, which helped us with seed funding and getting things off the ground.

We found our first customer by word of mouth, they were sitting next to a MyClaimMate advocate at a conference, heard what we were doing and got in touch.

“At H2 Ventures we invest in exceptional founders like Gilberto, for the long-term, who are building the companies (in fintech, data and AI) that might change the world.” — Aurora Voss, H2 Ventures

7. Describe the day you came up with your startup idea.

I was working as a Claim Manager for a major insurance provider and realised that the claim process is far more complex and stressful that it needs to be. Customers would often end up stressed, worried and frustrated at the process, which is troubling considering the customer would already be in a challenging situation. I went on to learn that this was the case across the industry so left my job to do something about it and provide an empathetic service to those in need.

Insurtech has the potential to revolutionize the insurance industry. The time is now for insurance providers to embrace this change as it will improve customer experience, not just business efficiencies.

8. Tell us about your background, what did you study and how did your background prepare you to become an entrepreneur?

MyClaimMate application

I hold a bachelors in Accounting and a Masters in Financial Markets. In the past, I left a corporate role to study community services and spent my time volunteering in youth centres, nursing homes and ran meet up events for new migrants settling in Australia. I look back at this time and believe this is where I started to see the world differently.

9. What’s the most common mistake founders make when growing their business?

To assume things, do not assume anything.

10. What’s your one word of advice to new founders?

Have a strong connection to the problem you’re trying to solve, this will help you get by when things get ugly because at some point, they will. Also, stay focused, they will be a lot of distracting noise.

Questions?
Tweet us @High Growth Ventures or email highgrowthventures@kpmg.com.au

Visit MyClaimMate
Visit
H2 Ventures