Spotlight on: Quilt, StartHub’s Startup to Watch for February 2017
February 10, 2017
Each month as part of StartHub’s Startups to Watch Program we connect with the winning company to learn more about them. Our February Startup to Watchis Quilt, a Boston-based simplified insurance technology startup. Recently we had the pleasure of interviewing Hal Schwartz, COO and Cofounder of Quilt. Here’s what we learned:
StartHub: Tell us about your company. What does Quilt do?
Quilt delivers refreshingly simple insurance to people who get stuff done online. Our team is focused on a great customer experience. Unlike most insurance companies you can buy a full policy 100% online and in minutes.
StartHub: What is your background?
I started off on a traditional legal path, becoming partner at a large international law firm. After a while, I realized I really enjoyed working closely with the leadership teams of several of my venture-backed clients. So I decided to go in-house. First as General Counsel of Best Doctors. Then, at Goji where I led their legal, privacy, regulatory compliance, and a bunch of non-legal operations stuff. That’s where Blair and I came together. What gets me so excited about Quilt is the room to run operations differently than any other insurance company in the past. They play it really safe–for good reasons–but it won’t help them with this new generation of buyers. Why not use regulation and legal constraints as a launching point to get really creative? Working with established partners in the space gives us the freedom to drive real results by doing something different.
StartHub: How did you come up with the idea for Quilt?Who is your target customer?
Millenials are woefully underinsured. And, insurance companies are slow to embrace customer-centric design and service. With our cofounding teams’ experience at Goji and Enservio, we saw a clear need for insurance that was rewritten and retooled for a new generation of buyers.
StartHub: How do you think Quilt is going to disrupt the market? What are the main differentiators between you and your competitors?
Quilt is offering the perfect balance of simplicity, advanced tech, and a human touch. No other company is offering more than one type of insurance to their customers in a way that’s manageable 100% online with 1:1 interactions exactly when you need it, and automation when you don’t. Our voice is a little bit quirky, too, which pleasantly surprises people. It’s unique to find a team who’s in it with you for the long haul and genuinely wants to make your day better each time you interact. So far, people really love it! One of our early customers in Orlando raved about how he could chat with us and manage his policy through Twitter DMs. I mean, c’mon–that’s really fun, easy, and GIFtastic.
StartHub: Who are your main investors?
NextView Ventures led our round and other investors include Eniac Ventures, Founder Collective, Titan Partners, Basset Investment Group and angels.
StartHub: Why did you decide to start your business in Boston? How long has your company been around?
This is the hub for all of our cofounders. While we’re all travelling a lot, Boston is our home. We also think it has the perfect combination of innovative talent and insurance expertise. The team is looking forward to putting down roots–we just opened our headquarters in the Leather District– so we can really connect with and help out the local startup and fintech communities.
StartHub: What resources in the startup community have contributed to the success of Quilt?
NextView let us incubate in their space for the first year on the ground, which was really valuable. We met other great companies as they came into the office and it’s also how we attracted some of our early hires. Our alumni, VC, and professional networks helped us make our valuable insurance company partnerships a reality. It truly is a village here in Boston, which is another thing we love about making this our home. A big thank you to the team who organizes the #BostonFintech and #InsurtechBoston communities, too.
StartHub: How do you use StartHub professionally?
Startups, events, and jobs. We just posted our profile there and have gotten a nice amount of interest. It comes in handy when you’re looking to hire, which we are, and when you want to be active in the community around you. If we’re appearing with other companies for a panel or meeting up for coffee, we check them out there. It’s also a nice way to show our support for everything Venture Cafe and the city of Boston does to support local tech companies.
StartHub: What are the next steps for Quilt?
People will be able to cover both their life and their stuff with us across the US, very soon. And, look for that next round of launches to include Boston! We’re very, very excited to show what we’ve built with all of our friends and family here. The call is out to our community for what we should cover next–we aren’t going to rest until our customers feel like we’re covering everything that matters.
StartHub: What is the most important thing our readers should know about Quilt?
Quilt isn’t just great tech, it’s a team who cares. And, we’re hiring. Come join us!
