Whether you’re an SMB owner-operator or a trillion-dollar company, commercial insurance is mission-critical. Despite its importance, commercial insurance remains one of the final frontiers of product expansion opportunities for Vertical SaaS companies—and for good reason! Insurance is highly complex and highly regulated and, as a result, has seen little innovation.
With a sector this complicated, even knowing where to get started is a challenge. For example, there are twenty major standard commercial lines and dozens of specialty products, ranging from general liability to cyber insurance. The types of insurance required vary and are based on a multitude of factors, but workers’ comp is mandatory for any business with more than one employee; general liability for any commercial lease; commercial auto for any vehicle—and the list goes on. The scale of the commercial insurance industry is a whopping $350B+ in premiums per year in the US alone.
The prize is large if a founder is brave enough to tackle this complex field, but that complexity is the exact reason there are numerous opportunities available:
At Tidemark, we try to open-source our thinking as much as possible to help founders win; however, as investors, we can’t give everything away in public. If you’re an operator or founder, you can request access to the rest of this piece below.
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