Tiegoo is one of the participating young startups in this year’s Accelerator Program of InsurLab Germany. CEO and founder Andreas Becker answers our questions. He tells us exactly what is behind the young company Tiegoo and how the startup is developing.
Andreas, what exactly is behind Tiegoo?
Andreas: Tiegoo is an “Insurance as a Service” startup. According to this motto, we created the first German animal health card and an artificially intelligent emergency system. We are building the platform for an ecosystem by integrating animal owners, insurers and veterinarians as well as other important and relevant user groups and enabling the exchange of digital data.
That sounds very interesting. How did you become aware of this gap in the market and how did your start-up company come about?
Andreas: The idea for the start-up basically came on a train during a business trip. Since I am a horse trainer myself, I got another message that one of my customer horses was very ill and the owner couldn’t reach her veterinarian and didn’t know how to get to the nearest equine clinic. It was clear to me that we urgently needed something like emergency assistance and a digital exchange of health and emergency data in this area. This ultimately led to the idea of inventing the animal health card and creating a digital platform for transparent and secure data transfer in animal health.
At what point are you standing with your startup right now? What are your next goals?
Andreas: We started as a relatively young startup just under a year ago with the idea and its direct implementation. We are currently in the phase of defining concrete pilot projects with veterinarians and entering into advantage partnerships with insurance companies in order to gradually establish and expand the ecosystem for the animal insurance market. A major milestone for us is the first investment round in which we are currently engaged, which will allow our team to grow further in the coming weeks.
This sounds like a positive and formative development for you. This year you are part of the Accelerator Program in the category “Start”. What is your current time in the InsurLab Germany Accelerator like? Who do you work with and what benefits do you already get?
Andreas: The InsurLab Germany Accelerator is just the right platform for us to make our startup known and to get in touch with established companies. The network contacts within the program are like a launch pad and priceless for us especially during the “Start” phase. For many corporates, the added value of using the “InsurLab” brand means that you have already proven the use case of your idea before an expert jury and that there is a general interest in your project. This often makes it easier to get started. Within the programme, we receive support from Helvetia, among others, who put three partners at our side to help us plan the pilot project. We have also found a contact for financing requirements in the W&W brand pool and two partners from Rheinland Versicherung who offer their support in the areas of product development and marketing and support us.
Where do you as a start-up see the biggest challenge in working with corporates?
Andreas: As a young startup, you are about to break new ground and find solutions quickly. This is not always easy for established corporates to understand. The factors time and money are essential for us as startups. Here there is often a discrepancy with potential partners who have long decision-making processes. Time that a startup does not have in order to enter the market as a competitive advantage. We have also noticed that the whole topic of “startups” is new territory for some corporates and that some of them do not yet have precise ideas on how to deal with the topic. This is where programs like the InsurLab Accelerator program come in, to which the Corporates, in my opinion, should pay even more attention and incorporate projects.
If you look 5 years into the future, where do you see Tiegoo?
Andreas: We would like Tiegoo to have positioned itself as a brand on the market within 5 years, so that every veterinarian and pet owner knows this name and we, as “Insurance as a Service” partners, are an integral part of the insurance industry.
What kind of contact are you looking for right now?
Andreas: We are currently carrying out pilot projects for veterinary practices and clinics. We are therefore looking for further insurers as advantage partners who would like to take part in these pilot projects in order to find new insurance companies.