Matt Connolly: Platformifying InsurTech Insights

On this episode, Sabine VdL interviews Matt Connolly, entrepreneur and platform builder to the insurance sector. He’s also the CEO of Sønr - the world's #1 InsurTech scouting and open innovation platform. On this episode Matt talks about himself, his idea to build the Sønr platform.

KEY TAKEAWAYS

• I always knew I wanted to start my own company, but I didn’t know what it was going to be or what I wanted to invent. The only relevant professional experience I had was working for a digital agency but my friend and I set up a web design company in 2003 that was going to deliver strategy, creative and tech for the web. Five years later the business was very successful and became the number one digital agency in the UK. It was a very unusual position to be in as a 20-something.
• I always wanted to push, push and push again. I’m never satisfied. They are terrible traits in somebody, but they are also great traits for an entrepreneur. I hope I’m able to do that with a level of empathy for those around me. Staff retention supports my belief that I’m able to create a good culture and be a good leader within my organisation. And, those traits really do drive me forward. 
• Having control of the DNA of a company and setting culture is a great responsibility and one of the most important things to achieve as a successful founder. Once you have that right the rest of the business will flow. Fun has to be a large part of that. As a founder you start off with your feet firmly under the desk. You are involved in shaping the operation of the business, KPIs, growth metrics and all those kinds of things and you can forget about having fun, that’s where my co-founder, Matt Ferguson, is great at continuously reminding me and us, to remember the fun part of work. He makes sure we are going out, we talk and connect.
• You need to set a vision and have a purpose within that vision and ensure that vision is brought into, and possibly even co-created, by people within the team. If you have that and everybody buys into it and you set a clear pathway to achieving that – whether you’re ahead of it or behind it – then everybody will rally and do their best to make that happen. I’ve always felt it should be somewhat of a democracy in the culture of a business. Rather than employ people to fulfil specific roles, I’d rather employ exceptional talent, understand where they are best deployed and allow them to function with that intent. That allows them to do the thing they love the best, and invariably they’re the best at, to create the right resourcing landscape to achieve our vision.

BEST MOMENTS

‘Employ people that are more talented than yourself.’ 

‘You will always overestimate what you can or will achieve in one year, but you will always underestimate what you can achieve in 10. I need to remind myself of that, I’m an incredibly impatient man.’

‘Always check in with each other and have those “high five” moments and check in and look after yourself en route.’

‘I am much better at encouraging others to have fun than doing it myself. But if you’re not having fun and living another life outside of work you become a one-dimensional person and that’s never going to be healthy for you.’

ABOUT THE GUEST

Matt is the CEO of Sønr - the world's #1 InsurTech scouting and open innovation platform.

Sønr is a subscription-based platform that houses the world’s most comprehensive source of innovation intelligence, designed specifically for the insurance innovator. 

It is used by some of the best-known insurance companies globally including Allianz, Bupa, Generali, Munich Re, Tokio Marine.

Sønr connects its clients to innovation globally – the latest market trends, startups, and scaleups reshaping the insurance market. It provides insight into competitors’ innovation activities too... The critical intelligence needed to compete in today’s changing world.

It also has an in-built collaboration toolset that enables teams to work smarter, faster and be more connected. This results in less duplicated effort and ensures everyone is really on the same page.

Website: https://sonr.global/ 

LinkedIn: https://www.linkedin.com/in/wearematt/ 

ABOUT THE HOST

There are over 140,000 FinTech ventures out there, including FinTechs, InsurTechs, HealthTechs, and WealthTechs. And the number keeps on changing every month. One statistic remains the same: 25% of these ventures have received investment and support from the financing world. 75% of these businesses still seek financing support from institutional and corporate investors alongside value-creating commercial collaboration opportunities with Global Fortune 500. 

Through this podcast series, I would like to demystify the world of corporate venturing, including how corporations collaborate with growth ventures, how venture capitalists and corporate venture capitalists make investment and collaboration choices in ventures and give tech founders and entrepreneurs, the strategies, tactics, tools, and techniques to build, grow and scale their business by understanding how those with financing power think. So, listen in, share and comment as you see fit.

Twitter: SabineVdL

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Website: www.sabinevdl.com