Omar Kaywan says lack of education, awareness, accessibility and affordability are the key factors in being underinsured. His company, Goose Insurance, is aiming to change that by removing barriers to entry in the personal lines space.
Kaywan, Goose’s co-founder and chief growth officer, describes the InsurTech as “an insurance super-app” for consumers in the U.S. and Canada to discover, learn about, and purchase personal lines of insurance. It operates in life and accident as well as property/casualty insurance.
“Goose is on a mission to make insurance accessible, affordable, and convenient,” he says. “You should be able to protect yourself, your loved ones and your belongings the same way as you hail a ride, order food or shop on your phone.”
With this in mind, the InsurTech’s goal is to turn every mobile device into an insurance storefront, he says, in which consumers can protect themselves financially in a simple, accessible way. The company doesn’t operate as a comparison site, but rather as a one-stop shop for life, renters, or travel insurance, as well as other lines of coverage. It works to build bespoke co-branded policies with carriers for each policy type.
“This strategy also builds a strong relationship with the carrier as they are getting 100 percent of the risk while the consumer is buying a policy not just based on price, but rather the coverage they need,” Kaywan says.
While Goose works to scale and add additional products, Kaywan is keeping an eye on trends in the InsurTech space as a whole.
“For me personally, I am really keen to see the impact of AI on insurance, particularly when it comes to underwriting risk and pricing,” he says. “I am also curious to see how this will impact the regulatory environments as we do start to inject more technology into an industry like insurance.”
He says that he hopes Goose’s business strategy of operating in accessory policy categories such as pet and travel will serve it well as it seeks to expand into coverages like device protection and accidental death and dismemberment. It plans to add products both in the property/casualty and life and accident lines, with a goal of launching an additional six products in the Goose app over the next eight to 12 months.
“Goose will continue to build on its vision of being the super app for insurance and offering one-stop shop solutions to our members’ insurance needs,” he says. “We have big goals with an aggressive mission, we are certainly on the path of achieving the goals we set. “