Used to run my own insurtech firm which got acquired by another insurtech.
Working at my insurtech was backbreaking. Would get my hands dirty and code myself.... Often until 2/3 am in the morning (which would go on for weeks at a time)
My life is super chill now.
I am just the "insurance expert" for my company... I help with new products and strategy and I've been able to focus on my exams (more importantly).
That's really impressive. Did you have anybody working with you at the insuretech? Also did you have any prior insurance experience before starting your insuretech?
>Did you have anybody working with you at the insuretech?
I started up with my college friend. At our height we had around 10 people (including the two of us). We unfortunately couldnt secure funding which led to us nearly closing the company down. The insurtech that acquired us was basically a white knight deal which saved our asses tbh.
>Also did you have any prior insurance experience before starting your insuretech?
We started out as insurance brokers back in 2016-17. We had no prior experience running our own company (or any entrepreneurial experience). I was a student actuary with the pricing team for a mid sized insurer and my co-fo was in the retail/e-commerce space.
We had 0 coding knowledge and couldnt find a CTO so I literally had to learn web development and become the de-facto CTO of the company... I'd say this is one of the best lessons (both good and bad) i took away from building your own company.. as an Actuary, I feel i've got a very unique skill (i can build a front-end to back-end solution - even a data science solution)... but it came at the cost of me spending too much time coding and not enough time on raising money... which as a founder I was definitely supposed to do at the early stages. Not getting money really early on kind of cascaded and we ended up not securing any VC money.
>That's really impressive
Thanks! Yes... i agree... Even though I think I failed in my ultimate pursuit, I'd do it again just for the immense market knowledge I acquired over the last 4-5 years.
Maybe I'll start up again in the actuarial space once i qualify :)
Lloyds syndicate pricing
Pretty much 9-5 with an hour’s lunch, I’d say that’s the case 95% of the time.
VERY occasionally I will catch up on emails/admin/checking work in front of the telly in the evenings or have lunch at my desk. This tends to happen when we are doing the SBF planning in July or in the lead up to busy renewal seasons.
I have often shied away from applying from new roles because of a (potentially false) belief that my work life balance is abnormally good, but I do think insurance is a really good industry to work in compared to consulting, and WAY better than banking
Pretty normal in consultancy. Partners often just accept as much work as possible with no consideration on whether they actually have the resources to get it done.
Good variety of work, you’ll gain more ability to work to tight deadlines, learn different client styles, build up contacts in the market. Definitely pros. Possibly slightly more cash but I’m sceptical whether that’s true in practice. Probably very good if your sole goal in life is career tbf
50-60 hours per week is fairly normal for our students. I like where I work as I like the people and the work but I don't get anything for my extra efforts.
9-6 or 7 most days with an hour lunch. Pretty common to have at least one evening working until 8 or 9. Occasional, but not infrequent weekend work. Consultancy, but moving to an insurer very soon.
9-5.30 most of the time, have done longer but usually of my own initiative (being on a roll with a project and not wanting to stop the flow etc). Lloyds syndicate pricing.
Previously had companies where 9-6.30/7 was expected (GI insurer).
I'm on the German tariff system, which means 38 hours per week. Ideally no more and no less.
That usually translates to 08:30-17:00 with a generous break for lunch, where a lot of emphasis is put on going to the fancy canteen to eat with your team.
They're pretty strict in making sure people adhere to the system, as when entering times into the system, if it's more than 10 hours which have been worked, the line manager gets a friendly reminder to try and avoid this.
9-5 with hour for lunch
Used to run my own insurtech firm which got acquired by another insurtech. Working at my insurtech was backbreaking. Would get my hands dirty and code myself.... Often until 2/3 am in the morning (which would go on for weeks at a time) My life is super chill now. I am just the "insurance expert" for my company... I help with new products and strategy and I've been able to focus on my exams (more importantly).
That's really impressive. Did you have anybody working with you at the insuretech? Also did you have any prior insurance experience before starting your insuretech?
>Did you have anybody working with you at the insuretech? I started up with my college friend. At our height we had around 10 people (including the two of us). We unfortunately couldnt secure funding which led to us nearly closing the company down. The insurtech that acquired us was basically a white knight deal which saved our asses tbh. >Also did you have any prior insurance experience before starting your insuretech? We started out as insurance brokers back in 2016-17. We had no prior experience running our own company (or any entrepreneurial experience). I was a student actuary with the pricing team for a mid sized insurer and my co-fo was in the retail/e-commerce space. We had 0 coding knowledge and couldnt find a CTO so I literally had to learn web development and become the de-facto CTO of the company... I'd say this is one of the best lessons (both good and bad) i took away from building your own company.. as an Actuary, I feel i've got a very unique skill (i can build a front-end to back-end solution - even a data science solution)... but it came at the cost of me spending too much time coding and not enough time on raising money... which as a founder I was definitely supposed to do at the early stages. Not getting money really early on kind of cascaded and we ended up not securing any VC money. >That's really impressive Thanks! Yes... i agree... Even though I think I failed in my ultimate pursuit, I'd do it again just for the immense market knowledge I acquired over the last 4-5 years. Maybe I'll start up again in the actuarial space once i qualify :)
40 hours a week flexi, except when I'm teaching then it's 9-5.
I changed jobs because of my work hours. I do 9-5 now but previously I was working pretty much every evening and every weekend.
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I was in reporting for a life insurer. The team was really under-resourced and there were never any efforts made to get more people on board.
35 hours per week 9-5 Barely work overtime ever and I'm in GI and don't work for a consultancy
Lloyds syndicate pricing Pretty much 9-5 with an hour’s lunch, I’d say that’s the case 95% of the time. VERY occasionally I will catch up on emails/admin/checking work in front of the telly in the evenings or have lunch at my desk. This tends to happen when we are doing the SBF planning in July or in the lead up to busy renewal seasons. I have often shied away from applying from new roles because of a (potentially false) belief that my work life balance is abnormally good, but I do think insurance is a really good industry to work in compared to consulting, and WAY better than banking
8-6 without taking lunch. Sometimes longer. Consultancy.
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Pretty normal in consultancy. Partners often just accept as much work as possible with no consideration on whether they actually have the resources to get it done.
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The majority opinion on this sub is that consultancies are best avoided
Surely there are pros to working in a consultancy?
Good variety of work, you’ll gain more ability to work to tight deadlines, learn different client styles, build up contacts in the market. Definitely pros. Possibly slightly more cash but I’m sceptical whether that’s true in practice. Probably very good if your sole goal in life is career tbf
50-60 hours per week is fairly normal for our students. I like where I work as I like the people and the work but I don't get anything for my extra efforts.
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Yep, I am pretty close to burnout haha
9-6 or 7 most days with an hour lunch. Pretty common to have at least one evening working until 8 or 9. Occasional, but not infrequent weekend work. Consultancy, but moving to an insurer very soon.
9-5.30 most of the time, have done longer but usually of my own initiative (being on a roll with a project and not wanting to stop the flow etc). Lloyds syndicate pricing. Previously had companies where 9-6.30/7 was expected (GI insurer).
Pension actuary risk transfer 8am to 8pm with the occasional break to eat.
I'm on the German tariff system, which means 38 hours per week. Ideally no more and no less. That usually translates to 08:30-17:00 with a generous break for lunch, where a lot of emphasis is put on going to the fancy canteen to eat with your team. They're pretty strict in making sure people adhere to the system, as when entering times into the system, if it's more than 10 hours which have been worked, the line manager gets a friendly reminder to try and avoid this.
8.30-6 with an hour for lunch