See a need and then fill it. That’s the secret of most successful businesses—and that was the driving motivator of InsurTech Thimble, which is currently working on coverage for small business customers during business interruptions.Executive SummarySee a need and then fill it. That has been the driving motivator of InsurTech Thimble, which had its roots as a provider of on-demand insurance for drones. These days, Thimble is working on a low-limit business interruption policy with a parametric trigger that will help tide businesses over until they can get government assistance during COVID-related shutdowns.
Jay Bregman, co-founder of the New York City-based company, is accustomed to filling gaps in the marketplace, having transformed a company that started with a singular focus on serving the needs of a narrow market—drone operators—into one serving the liability insurance needs of small businesses.
Now focused on business interruptions and the problems of small business owners during pandemic lockdowns, the new policy on the drawing board could be a first line of defense for shuttered businesses, to tide them over until they get help from the government, Bregman said during a recent interview. He explained that the BI policy, like the drone cover and liability offerings that preceded it, would deliver low-limit insurance through a simple application process.