Ep. 169: From College to Multimillion Dollar Startup

by | Jun 16, 2020

Sonny Patel is the Founder and CEO of Insurmi, a company that developed Violet. Violet is an A.I. assistant designed to help clients increase their revenue, lower operational expenses, and improve the insurance customer experience. Violet can sell policies, file claims, manage policy changes, and answer customer questions. As CEO, Sonny is responsible for overseeing the company’s strategic growth and continual development of technologies meant to cater to future generations. 

In today’s episode, Sonny shares what it was like to move to Africa, what his life was like before he founded Insurmi, and what led to the development of Violet. He describes the need for technologies to catch up with current events, especially with regards to COVID-19. He explains how Violet works and it’s potential for revenue and customer engagement. Sonny also shares the funny story of how they came up with the name Violet and their other choices.

“Customers that are in the younger demographic are willing to pay a little bit more for a better customer experience.” – Sonny Patel

What you’ll learn:

  • Sonny’s childhood, the time he moved to Africa, and when he joined the insurance industry.
  • Why you should start building your network in college.
  • Why Insurmi focused on increasing customer engagement for their platform.
  • The difference between their young and more seasoned customers.
  • What Insurmi’s transition was like with the pandemic.
  • How they decided to name their company Insurmi.
  • Sonny’s thoughts on the future of insurtech and inventions to look forward to.
  • Sonny’s advice to those coming out of college and want to join the insurance industry.

Connect with Sonny

Key Takeaways:

  • The pandemic has forced industries to adapt to technologies that don’t require physical contact.
  • People are willing to pay more for apps designed to provide top-notch customer engagement and service.

This episode was brought to you by

Insurance Licensing Services of America (ILSA), America’s premier regulatory compliance experts. To learn more visit ILSAinc.com.

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